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