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CA SB926
Bill
AI Summary
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Requires retail locations in California to accept cash payments for transactions not exceeding $5,000 involving the sale or lease of goods or services.
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Defines "cash" as Federal Reserve Notes and metal coins issued by the United States as legal tender, with no requirement to accept bills larger than $20.
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Exempts online, mail, telephone, and catalog transactions; rental transactions requiring collateral; wholesale clubs with membership-only models; and transactions prohibited by other law.
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Requires retail locations to make reasonable efforts to have equal numbers of cash-accepting and non-cash points of sale that are equally accessible.
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Authorizes the Attorney General to enforce the law with civil penalties ranging from $25 to $500, with penalties deposited into the Public Rights Law Enforcement Special Fund; cash acceptance must continue during declared emergencies unless conflicting with State Department of Public Health directives.
Legislative Description
Business: retail locations: cash payments.
Last Action
June 18 hearing: Held in committee and under submission.
6/18/2020