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CA AB2991
Bill
Status
9/22/2024
Primary Sponsor
Avelino Valencia
Click for details
AI Summary
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Requires all payments from retailer licensees to wholesaler licensees for beer, wine, or distilled spirits to be made by electronic funds transfer (EFT) commencing January 1, 2026.
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Wholesaler licensees are responsible for selecting and initiating the third-party payment processor for EFTs, with payment due by the 30th day from delivery date.
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Permits cash, check, or money order payments only in limited circumstances: insufficient funds on prior EFT, interim/temporary permits, payment processor service interruptions, or within 30 days of license issuance.
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Prohibits wholesalers from paying retailer EFT fees and retailers from paying wholesaler EFT fees; retailers cannot receive rebates or incentives from payment processors.
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Modifies tied-house restrictions in Section 25509 by removing the "for cash or by receiving payment in advance" language, as retailers must now use EFT by default.
Legislative Description
Alcoholic beverage control: retailer payments: electronic funds transfers.
Last Action
Chaptered by Secretary of State - Chapter 426, Statutes of 2024.
9/22/2024