Senate File 274 mandates that public schools and organizations sponsoring extracurricular interscholastic athletic contests or competitions must accept legal tender as a form of payment for entry. This requirement is established under a new section, 280.13H, which defines "organization" in accordance with existing law. The bill stipulates that acceptance of legal tender is a condition for registration with the Department of Education for organizations involved in these events.

However, the bill specifies certain exceptions where this requirement does not apply. It does not pertain to contests or competitions held at public or nonpublic schools that are not members of an organization, nor does it apply to events taking place at venues not owned or operated by public schools, nonpublic schools, or organizations.