ARIZONA HOUSE OF REPRESENTATIVES Fifty-sixth Legislature First Regular Session
	House: COM DP 10-0-0-0

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HB 2555: businesses; requirement to accept cash

Sponsor: Representative Chaplik, LD 3

Caucus & COW

Overview

Stipulates that cash must be accepted as a form of payment by businesses located in this state.

History

Statute defines legal tender as a medium of exchange, including specie, that is authorized by the United States Constitution or Congress for payment of debts, public charges, taxes and dues (A.R.S. § 6-851).

Legal tender is federally defined as United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes and dues. Foreign gold or silver coins are not legal tender for debts (Section 31, U.S.C. § 5103).

Provisions

1. Asserts businesses that are physically located in Arizona must accept cash as a form of payment for goods and services. (Sec. 2)

2. Prohibits businesses from charging a fee or penalty for using cash as a form of payment. (Sec. 2)

3. Stipulates a person has a cause of action against the person who commits a violation by denying the use of cash or charging a fee for using cash. (Sec. 2)

4. Specifies a person who has committed a violation is liable for damages for each violation amounting to $1,000 with a maximum of $1,000 per person per day or $5,000 per person in total. (Sec. 2)

5. Entitles the prevailing plaintiff in an action to recover reasonable attorney fess and costs. (Sec. 2)

6. Directs the court to annually adjust the liability damage amounts for inflation. (Sec. 2)

7. Excludes online sales from the requirement to accept cash. (Sec. 2)

8. Makes a technical change. (Sec. 1)

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12.                   HB 2555

13. Initials PRB           Page 0 Caucus & COW

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