SLS 14RS-1667 ORIGINAL
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Regular Session, 2014
SENATE CONCURRENT RESOLUTI ON NO. 90
BY SENATOR MARTINY
BANKS/BANKING. Recognizes the importance and superiority of electronic payments
over cash and encourages the use of electronic payments.
A CONCURRENT RESOLUTI ON1
To recognize the importance of electronic payments and their superiority in terms of cost,2
safety, and convenience over cash and to encourage the use of electronic payments3
by all of Louisiana's citizens and particularly in government financing in the state.4
WHEREAS, in 2013 The Fletcher School of Law and Diplomacy at Tufts University5
published the results of a study regarding the cost of cash in the United States; and6
WHEREAS, this study found that cash, although ubiquitous, is costly to produce and7
manage and degrades through its lifetime; and8
WHEREAS, according to the study, cash costs society billions of dollars in foregone9
tax revenues annually and recovering even a fraction of what is lost in taxes to the cash10
economy would supply much-needed revenue for governments; and11
WHEREAS, cash costs retail businesses billions in cash theft, bank robbery, and12
other cash losses annually; and 13
WHEREAS, this burden significantly affects smaller businesses that are less likely14
to utilize high-level security for their cash; and 15
WHEREAS, cash is vulnerable to theft and inconvenient to transport, and may allow16
an underground economy to flourish because of the anonymity of cash transactions, all of17
which may create challenges for law-enforcement and tax authorities; and18 SCR NO. 90
SLS 14RS-1667 ORIGINAL
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WHEREAS, American households with bank accounts at formal financial institutions1
use only a little cash at a low cost, but households without such accounts carry higher cash2
balances and are more likely to pay fees to access their own money; and 3
WHEREAS, cash is losing share in consumer transactions to other payment methods4
and since 2010 has been superseded by electronic payments, primarily triggered by5
businesses seeking to reduce vulnerability to theft, and consumers seeking to reduce loss of6
time spent obtaining cash.7
THEREFORE, BE IT RESOLVED that the Legislature of Louisiana does hereby8
request all state agencies to seek out opportunities to replace cash-based government9
payment systems with electronic systems that reduce costs for government, taxpayers, and10
citizens.11
BE IT FURTHER RESOLVED that the Legislature of Louisiana encourages12
Louisiana citizens to choose electronic payment methods over cash.13
BE IT FURTHER RESOLVED that a copy of this Resolution be transmitted to the14
Commissioner of Administration.15
BE IT FURTHER RESOLVED that a copy of this Resolution be transmitted to16
Bhaskar Chakravorti and Benjamin D. Mazzotta at The Fletcher School of Law and17
Diplomacy, Tufts University.18
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by LG Sullivan.
DIGEST
Martiny SCR No. 90
Recognizes the superiority of electronic forms of payment in lieu of cash.