A new state law will require retailers to accept cash for most transactions below $500, and fine repeat violators up to $5,000.
The days of cashless businesses are coming to an end in Illinois.
On July 31, Governor J.B. Pritzker signed House Bill 4592 into law, which bars companies from refusing to accept cash for purchases valued below $500.
The law also prohibits companies from posting signs stating that they don’t accept cash and bans businesses from charging customers higher prices for paying with cash than for other forms of payment.
Consumers shouldn’t be required to use digital payments, one of the bill’s sponsors, Illinois Sen. Li Arellano, Jr., explained in an interview this week.
“We don’t want to force people to become part of payment structures or financial systems, especially ones that take a percentage of everybody’s pay and make everybody’s life get more expensive,” Arellano said in the Wednesday interview.
The law, which takes effect Jan. 1, 2028, applies to gas stations, grocery stores, pharmacies, restaurants, retailers and self-service checkout.
Violators of the act will face up to $5,000 fines per calendar year, starting with up to a $50 fine for the first violation, a $100 fine within the first 12 months of the first violation and $500 for the third and every violation after the first two, according to the law.
Illinois State Rep. Rita Mayfield introduced the bill in January , and State Sen. Christopher Belt became the chief sponsor in April. Along with Arellano, State Rep.
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