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House Journal: Page 1252: Wednesday, April 5, 1995

 3   following:
 4     "Sec. ___.  Section 527.5, subsection 13, Code
 5   1995, is amended to read as follows:
 6     13.  Effective July 1, 1994, any transaction
 7   engaged in with a retailer through a satellite
 8   terminal located in this state at a location
described
 9   in section 527.4, subsection 3, paragraph "d", by
10   means of an access device which results in a debit to
11   a customer asset account shall be cleared and paid at
12   par to the retailer during the settlement of such
13   transaction to the retailer.  Processing
14   Notwithstanding the terms of any contractual agreement
15   between a retailer or financial institution and a
16   national card association as described in subsection
17   12, an electronic funds transfer processing facility
18   of a national card association, a central routing unit
19   approved pursuant to this chapter, or a data
20   processing center, the processing fees and charges for
21   such transactions to the retailer shall not be based
22   on a percentage of the amount of the transaction be
as
23   contractually agreed upon between the retailer and the
24   financial institution which establishes, owns,
25   operates, controls, or processes transactions
26   initiated at the satellite terminal.  All accounting
27   documents reflecting such fees and charges imposed on
28   the retailer shall separately identify transactions
29   which have resulted in a debit to a customer asset
30   account and the charges imposed.  The provisions of
31   this subsection shall apply to all satellite
32   terminals, including limited-function terminals, full-
33   function point-of-sale terminals as identified in
34   subsection 12, paragraph "a", and multiple use
35   terminals."
36     2.  By renumbering as necessary.
Amendment H-3743 was adopted.
Holveck of Polk asked and received unanimous consent to defer
action on amendment H-3748.
Speaker pro tempore Van Maanen of Marion in the chair at 10:10
a.m.
Holveck of Polk offered the following amendment H-3747 filed by
him and moved its adoption:
H-3747
 1     Amend House File 520 as follows:
 2     1.  Page 6, by striking line 8 and inserting the
 3   following:
 4     "Sec. ___.  Section 527.6, Code 1995, is repealed."
 5     2.  By renumbering as necessary.

Iowa General Assembly

Index: House Journal (76th General Assembly: Session 1)

© 1995 Cornell College and League of Women Voters of Iowa

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URL: /DOCS/GA/76GA/Session.1/HJournal/01200/01252.html
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