CO HB1048

Requires retail establishments to accept United States currency (including Federal Reserve notes) for purchases when an individual is present to accept payment in person.

Applies only to retail establishments with in-person payment acceptance; does not apply to banks, credit unions, or online-only retailers.

Creates exemptions for transactions requiring security deposits on credit cards, credit card numbers for damage coverage, and cash-to-prepaid card conversions meeting specified conditions (no fee, minimum deposit of $1 or less, receipt provided, no expiration date).

Allows multi-location retailers to comply by accepting cash at a minimum of one point of sale per address.

Establishes violation as a Class 2 petty offense with fines up to $250 per transaction or attempted transaction.