Thursday, October 20, 2011

WTF — Louisiana bans using cash in sales of second-hand goods

In a new law that could put every trading post, Goodwill, flea market, garage sale and Craigslist merchant in the state of Louisiana out of business, a bipartisan group of elected representatives has opted to ban all cash payments for the buying and selling of used goods.

Though House Bill 195 was intended to make it easier to track the sales of stolen goods by giving police a paper trail to follow, the unintended consequences could be much more widespread. Namely, the law requires second-hand sales be made paid for with credit cards, paper checks, electronic transfer or money orders. Cash is prohibited.

It was signed into law on July 1, but flew so far under the radar that practically nobody in the media noticed until this week, when Louisiana’s KLFY Eyewitness News 10 put a spotlight on the new rules and their likely impacts on local business.

The law also requires second-hand sellers to obtain personal information about each buyer — information like names, addresses, driver’s license number and even, if applicable, their license plate number — and turn it over to state officials.
Read the full post (text of law also available) at Raw Story, Louisiana bans using cash in sales of second-hand goods

A friend of mine asked me about this this yesterday and I dismissed it as a ridiculous conspiracy theory. I was wrong apparently. Unbelievable!


Anti said...

Is this even legal, considering the federal "legal tender" law?

Mario said...

yeah I think federal law trumps state law here.

But I'm no lawyer. What fools.