The proposed bill mandates that sellers in Minnesota must accept United States currency, including Federal Reserve notes, for purchases made in person. This requirement is outlined in a new section of the Minnesota Statutes, specifically under chapter 325F, which includes definitions and stipulations regarding the acceptance of cash. Notably, the bill specifies that sellers with multiple points of sale must accept cash at least at one location, and it provides exceptions for transactions involving security deposits or prepaid cards under certain conditions.

Additionally, the bill establishes a civil penalty of up to $250 for sellers who fail to comply with the cash acceptance requirement. The legislation is set to take effect on January 1, 2025, applying to all sales and transactions occurring from that date forward. This initiative aims to ensure that consumers can use cash for their purchases, thereby promoting accessibility and consumer rights in retail transactions.