New York Assembly Bill A07929

New York 2025-2026 Regular Session

• Introduced: 4/15/25
• Refer: 4/15/25
• Report Pass: 5/19/25
• Refer: 5/19/25
• Report Pass: 5/28/25
• Refer: 5/28/25
• Report Pass: 5/29/25

Caption

Prohibits food stores and retail establishments from refusing to accept payment in cash; provides a civil penalty will be assessed for such actions.

Impact

If enacted, A07929 would amend the General Business Law, introducing a penalty system for non-compliance. Retailers found guilty of refusing cash payments would face a civil penalty of up to $1,000 for the first violation and $1,500 for subsequent violations. This regulatory change aims to discourage businesses from adopting cashless payment policies that could alienate certain customer groups, thereby maintaining a level of accessibility for all consumers regardless of their financial circumstances.

Summary

Assembly Bill A07929 aims to prohibit food stores and retail establishments in New York from refusing to accept cash payments. The legislation reflects a growing concern that cashless policies disproportionately impact low-income individuals and those without access to banking services. By ensuring that cash is accepted as a form of payment, the bill seeks to uphold consumer rights and promote financial inclusion. Proponents of the bill argue that cash remains a vital form of payment for many consumers and that its exclusion can limit access to goods and services.

Contention

While the bill has gained traction among consumer advocacy groups, it has also encountered opposition from some retail businesses and trade organizations. Opponents argue that requiring cash payments could increase operational costs and potentially compromise employee safety, as accepting cash may raise the risk of theft. They contend that the market should dictate payment methods and that businesses should have the flexibility to implement cashless systems if they so choose. This clash over consumer rights versus business freedoms is likely to be a focal point in ongoing discussions surrounding the bill.