Ohio lawmakers propose bill to require businesses to accept cash

OHIO — Ohio lawmakers have introduced a bill that would require businesses to accept cash for in-person transactions.

Senate Bill 30, sponsored by Sens. Louis Blessing III (R-Colerain Township) and Catherine Ingram (D-Cincinnati), aims to ban fully cashless businesses in the state.

The bill comes as 4.2% of Ohio households remained unbanked in 2023, according to the Federal Deposit Insurance Corporation.

Since there is no federal law mandating cash acceptance, businesses can currently refuse cash payments unless state or local laws say otherwise.

If passed, businesses that reject cash could face lawsuits from the Ohio attorney general, with penalties ranging from $5,000 to $25,000 under the Consumer Sales Practices Act.

Customers would also have the right to sue for the amount of their transaction plus up to $5,000.

The bill includes exemptions for certain businesses, including airport vendors, some parking facilities, rental car companies, and large venues with at least 10,000 seats.

Businesses that provide fee-free cash-to-card conversion machines would also be exempt.

Senate Bill 30 has been assigned to the Small Business and Economic Opportunity Committee and is awaiting its first public hearing.