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HOUSE OF REPRESENTATIVES - FLOOR VERSION
STATE OF OKLAHOMA
2nd Session of the 59th Legislature (2024)
COMMITTEE SUBSTITUTE
FOR
HOUSE BILL NO. 3753 By: Hardin of the House
and
Woods of the Senate
COMMITTEE SUBSTITUTE
An Act relating to legal tender; defining terms;
requiring acceptance of cash as legal tender;
providing penalties and enforcement ; providing
exception; providing for codification; providing an
effective date; and declaring an emergency.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 2200 of Title 25, unless there
is created a duplication in numberin g, reads as follows:
A. As used in this act:
1. "At retail" shall include any retail transaction conducted
in person and shall exclude:
a. any telephone, mail, or Internet-based transactions,
b. parking lots and parking garages ,
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c. transactions at wholes ale clubs that sell consumer
goods and services through a membership model,
d. transactions at retail stores selling consum er goods
exclusively through a membership model that requires
payment by means of an affiliated mobile device
application,
e. transactions for the rental of consumer goods,
services, or accommodations for which posting of
collateral or security is t ypically required,
f. consumer goods or services provided exclusively to
employees and others authorized to be on the
employer's premises, and
g. member transactions at fitness cen ters, including
payment of membership fees.
B. A person or entity selling or offering for sale consumer
goods or services at retail is prohibited from re fusing to accept
cash as a form of payment to purchase goods or services.
C. Any person or entity in violation of this act shall be
subject to a warning for a first violation. A second violation
shall be punishable by a fine not to exceed One Thousand Dollars
($1,000.00). A third or subsequent violation shall be p unishable by
a fine not to exceed Two Thousand Five Hundred Dollars ( $2,500.00).
The penalties in this subsection shall be enforced by the Office of
the Attorney General. Fines collected by the O ffice of the Attorney
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General shall be deposited in the Gen eral Revenue Fund of the State
Treasury.
D. This act shall not apply to a retail establishment that
provides a device on premises that converts cash, without charging a
fee or requiring a minimum deposit amount greater than Five Dollars
($5.00), into a prepaid card that allows a consumer to complete a
transaction at such retail establishment . Upon request, such device
shall provide each consumer with a receipt indicating the amo unt of
cash such consumer deposited onto the prepaid card. Cash deposits
onto such a prepaid card shall not be subjec t to an expiration date
and there shall be no limit on the number of transactions t hat may
be completed on such prepaid card. In the event such retail
establishment does not have a devi ce to convert cash to a prepaid
card and cash is presented for payment , then the retail
establishment shall accept cash as payment for services or good s.
SECTION 2. This act shall become effective July 1, 2024.
SECTION 3. It being immediately necessary for the preservation
of the public peace, health or safety, an emergency is hereby
declared to exist, by reason whereof th is act shall take effect and
be in full force from and after its passage an d approval.
COMMITTEE REPORT BY: COMMITTEE ON BANKING, FINANCIAL SERVICES AND
PENSIONS, dated 02/13/2024 - DO PASS, As Amended and Coauthored.