Sangamon Sun

The federal government has intervened in a legal dispute concerning a new Illinois law that could affect how banks and credit unions manage transaction fees. The U.S. Office of the Comptroller of the Currency has filed an amicus brief supporting a lawsuit to block the Illinois Interchange Fee Prohibition Act.

This law, enacted earlier this year, would be the first in the nation to prevent banks from charging interchange fees on taxes and tips. Critics argue it could complicate transactions for retailers and consumers by necessitating two separate card swipes: one for purchases and another for sales tax. Federal officials contend that the law disrupts their regulatory authority and jeopardizes "safe and sound banking" by undermining fees that cover transaction costs and guard against fraud.

Proponents of the law assert that banks are overstating their case, suggesting they can easily differentiate between taxes and tips without disrupting operations. The court is scheduled to hear arguments on October 30th.

In other news, Round 2 of the Illinois Grocery Initiative's "New Stores in Food Deserts" program is now accepting applications. This initiative aims to improve access to fresh food in underserved areas by offering $11 million in grants for grocery store development. Sen. Bennett supports this initiative, which he helped legislate to provide necessary resources to communities facing food insecurity.

Eligible stores must meet specific criteria, including classification under certain North American Industry Classification System codes, location in a food desert census tract, limited revenue from alcohol and tobacco sales, acceptance of SNAP and WIC benefits, and contribution to community food diversity. Grant awards will range from $150,000 to $2.4 million with applicants needing a 1:3 funding match. Applications are due by December 2, 2024.

Meanwhile, the 2024 Du Quoin State Fair set a new attendance record with over 204,000 visitors during its run from August 23rd to September 2nd. This surpasses the previous record of 171,000 attendees set in 2022. Cooler temperatures along with new attractions contributed to this success.

As Halloween approaches, Sen. Bennett offers safety tips for trick-or-treating including sticking to designated hours and checking treats before consumption.

Finally, as reported at press time, Illinois owes $1,740,433,021.34 to state vendors with over 16 thousand pending vouchers awaiting payment.