Senate Finance schedules testimony on requiring businesses to accept cash, examines credit‑card fee issues

The Senate Committee on Finance said it will hold testimony on proposals related to requiring businesses to accept cash and on rules concerning credit‑card fees.

A committee member described plans to take testimony from merchants who have raised concerns about “card‑only” policies and described local examples such as transfer stations and small retailers. The senator said it is not the committee’s current intention to change statewide credit card fees beyond taking testimony and understanding merchants’ concerns.

Committee members discussed legal and practical constraints. Staff and members noted that businesses regulated by the Federal Reserve or engaged in interstate commerce could present legal questions, and one member referenced concerns raised by payments processors (PayPal/Point‑of‑sale systems) and potential enforcement burdens if the state required separate cash handling or reporting. Committee members observed that accepting cash can impose administrative costs and security considerations on merchants and that online transactions cannot practically accept cash.

The committee stated it will invite affected merchants and stakeholders to testify so members can evaluate practical, legal and enforcement implications before deciding whether to pursue legislation on cash acceptance or to amend existing thresholds (for example, a $500 threshold discussed in earlier sessions). No formal committee vote was taken on the issue at this meeting.