This bill mandates that all commercial enterprises operating from a physical location in Iowa must accept cash as a form of payment and prohibits them from maintaining cash-free locations. The legislation aims to ensure that cash remains an accepted payment method, thereby promoting accessibility for all customers.

Additionally, the bill stipulates that any violation of this requirement will lead to the revocation of the commercial enterprise's license to conduct business in the state. To facilitate the implementation of this law, the Department of Insurance and Financial Services is tasked with adopting rules in accordance with existing administrative procedures.