Text: SSB02046                          Text: SSB02048
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Senate Study Bill 2047

Bill Text

PAG LIN
  1  1    Section 1.  NEW SECTION.  234.12A  ELECTRONIC BENEFITS
  1  2 TRANSFER PROGRAM.
  1  3    1.  The department of human services may establish an
  1  4 electronic benefits transfer program utilizing electronic
  1  5 funds transfer systems.  The program, if established, shall at
  1  6 a minimum provide for all of the following:
  1  7    a.  A retailer shall not be required to make cash
  1  8 disbursements or to provide, purchase, or upgrade electronic
  1  9 funds transfer system equipment as a condition of
  1 10 participation in the program.
  1 11    b.  A retailer shall be paid for an approved transaction
  1 12 pursuant to the program no later than the end of the second
  1 13 business day after the day of the transaction.
  1 14    c.  A retailer providing electronic funds transfer system
  1 15 equipment for transactions pursuant to the program shall be
  1 16 reimbursed fifteen cents for each approved transaction
  1 17 pursuant to the program utilizing the retailer's equipment.
  1 18    d.  A retailer that provides electronic funds transfer
  1 19 system equipment for transactions pursuant to the program and
  1 20 who makes cash disbursements pursuant to the program utilizing
  1 21 the retailer's equipment shall be paid a fee for each cash
  1 22 disbursement transaction by the retailer which shall not be
  1 23 less than the fee paid to a financial institution for a cash
  1 24 disbursement by a satellite terminal, as defined in section
  1 25 527.2, established by the financial institution.
  1 26    2.  A point-of-sale terminal which is used only for
  1 27 purchases from a retailer by electronic benefits transfer
  1 28 utilizing electronic funds transfer systems is not a satellite
  1 29 terminal as defined in section 527.2.  
  1 30                           EXPLANATION
  1 31    This bill authorizes the department of human services to
  1 32 establish an electronic benefits transfer program.  The
  1 33 program would be used to electronically provide benefits, such
  1 34 as food stamp benefits, to eligible individuals through the
  1 35 use of electronic funds transfer system equipment.  The
  2  1 program, if established, must satisfy several criteria,
  2  2 including that a retailer must not be required to make cash
  2  3 disbursements, or to provide, purchase, or upgrade electronic
  2  4 funds transfer system equipment as a condition of
  2  5 participation in the program; a participating retailer is to
  2  6 be paid for an approved transaction no later than the end of
  2  7 the second business day after the day of the transaction; a
  2  8 participating retailer providing electronic funds transfer
  2  9 system equipment for transactions pursuant to the program is
  2 10 to be reimbursed 15 cents for each approved transaction
  2 11 utilizing the retailer's equipment; and a retailer that
  2 12 provides electronic funds transfer system equipment for
  2 13 transactions pursuant to the program and who makes cash
  2 14 disbursements pursuant to the program utilizing the retailer's
  2 15 equipment is to be paid a fee for each cash disbursement
  2 16 transaction by the retailer which is no less than the fee paid
  2 17 to a financial institution for a cash disbursement by a
  2 18 satellite terminal, as defined in Code section 527.2, which is
  2 19 established by the financial institution.
  2 20    The bill provides that a point-of-sale terminal used only
  2 21 for purchases from a retailer under the electronic benefits
  2 22 transfer program is not a satellite terminal for purposes of
  2 23 Code chapter 527, which generally applies to electronic funds
  2 24 transfers.  
  2 25 LSB 3670SC 77
  2 26 mj/sc/14
     

Text: SSB02046                          Text: SSB02048
Text: SSB02000 - SSB02099               Text: SSB Index
Bills and Amendments: General Index     Bill History: General Index

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