This bill mandates that sellers in Minnesota must accept United States currency, including Federal Reserve notes, for the purchase of essential goods and services. It introduces a new section in the Minnesota Statutes, specifically section 325F.805, which outlines definitions for key terms such as "consumer," "essential goods and services," and "seller." The bill specifies that this requirement applies only to sellers who accept in-person payments and provides exceptions for certain transactions, such as those involving security deposits or prepaid cards under specific conditions.

Additionally, the bill establishes a civil penalty of up to $250 for sellers who fail to comply with the currency acceptance requirement. The law is set to take effect on January 1, 2027, and will apply to sales and transactions occurring on or after that date. Overall, the legislation aims to ensure that consumers can use cash for essential purchases, thereby promoting accessibility and convenience in retail transactions.