General Law Committee
JOINT FAVORABLE REPORT
Bill No.: HB-5172
AN ACT CONCERNING ACCEPTABLE FORMS OF CURRENCY AS PAYMENT
Title: IN LOCAL BUSINESSES.
Vote Date: 3/10/2020
Vote Action: Joint Favorable
PH Date: 2/27/2020
File No.:
Disclaimer: The following JOINT FAVORABLE Report is prepared for the benefit of the
members of the General Assembly, solely for purposes of information, summarization and
explanation and does not represent the intent of the General Assembly or either chamber
thereof for any purpose.
SPONSORS OF BILL:
General Law Committee
REASONS FOR BILL:
This bill with exceptions would not allow retailers to refuse cash as a form of payment, post
signs stating cash is not accepted, or charge higher prices for patrons who pay with cash.
Please refer to HB 5703 with amendment House A from 2019 as it is the identical, which
passed the House of Representatives in 2019.
RESPONSE FROM ADMINISTRATION/AGENCY:
No Response from administration/agency
NATURE AND SOURCES OF SUPPORT:
Holly Cheeseman, Representative, State of Connecticut, General Assembly
According to a 2017 survey from the FDIC approximately 25% of the population are either
unbanked or underbanked. Many people in this population use check cashing services,
payday loans or rent to own services. Data shows that this group of people are predominately
low income. As a result, they have little or no access to credit cards. Also, in a cashless
society all financial transactions are traceable which should be of great concern to
libertarians. The refusal of cash also impacts those who suffer from domestic abuse.
Abusers can track and monitor credit card use, etc. Several states including Massachusetts
has state laws that state that "no retailer shall discriminate against a cash buyer." Please
support HB5172.
Houston Putnam Lowry, Polivy, Lowry, & Clayton, LLC, Attorney's at law
This bill would not conflict with existing federal law. US currency is legal tender for all debts,
public and private. Accepting cash seems to be fair and appropriate. Perhaps placing
limitations on the amount of coinage that would be acceptable. An example would be if
someone purchased a car for $20,000 in pennies, this would not be reasonable or
appropriate.
Crystal Wright, External Affairs and Community Outreach, Cardtronics
There is an alarming number of businesses large and small that are refusing to accept cash
as a form of payment. Cardtronics applauds CT for joining the nationwide movement of 15
other cities and states introducing legislation that protects cash as payment of choice.
NATURE AND SOURCES OF OPPOSITION:
Connecticut Bankers Association,Tom Mongellow, Art Corey, Fritz Conway
CBA believes retail businesses should be free to choose the methods of payment they offer
to customers. Reasons that a business might choose not to accept cash as payment are as
follows: if a business has suffered multiple robberies or has suffered from accepting
counterfeit bills. Electronic payments also increase operational efficiencies. Transaction
times are also more streamline as technology allows for "tap and pay feature."
Reported by: Bonnie Gray, Asst. Clerk Date: 03/11/2020
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