Int 1049-2024

Be it enacted by the Council as follows: Section 1. Section 20-672 of the administrative code of the city of New York is amended by adding a new subdivision h to read as follows: h. Preauthorization holds disclosure. 1. Definitions. For purposes of this subdivision, the term "preauthorization hold" means a temporary hold placed on available funds or credit in the account associated with the form of payment used in a transaction when the amount held may exceed the actual amount due. 2. Any person who sells or offers for sale at retail any petroleum product for use in motor vehicles or motor boats shall conspicuously post at the place where payment is accepted a written notice indicating whether a preauthorization hold will be imposed as part of a transaction. Where such notice indicates that a preauthorization hold will be imposed as part of a transaction, it shall include information about when such a hold is initiated, the dollar amount of such hold, and how a customer may avoid a preauthorization hold. � 2. This local law takes effect 180 days after it becomes law. PS/SS LS #15894 11/17/2025 11:41AM 1 2