This bill mandates that sellers in Minnesota must accept United States currency, including Federal Reserve notes, for purchases of goods and services. It introduces a new section, designated as [325F.805], which outlines the requirements for retailers regarding currency acceptance. Specifically, it states that sellers must accept cash unless certain exceptions apply, such as transactions requiring a security deposit on a credit card or the use of devices that convert cash into prepaid cards under specific conditions. The bill also clarifies that it does not apply to banking institutions or credit unions.

Additionally, the bill establishes a civil penalty for sellers who fail to comply with the cash acceptance requirement, imposing a fine of up to $250 per transaction or attempted transaction. The law is set to take effect on January 1, 2026, and will apply to sales and transactions occurring on or after that date.