Law Bans Cash for Second Hand Transactions

[daveman]

Law Bans Cash for Second Hand Transactions

Cold hard cash. It's good everywhere you go, right? You can use it to pay for anything.

But that's not the case here in Louisiana now. It's a law that was passed during this year's busy legislative session.

House bill 195 basically says those who buy and sell second hand goods cannot use cash to make those transactions, and it flew so far under the radar most businesses don't even know about it.

"We're gonna lose a lot of business," says Danny Guidry, who owns the Pioneer Trading Post in Lafayette. He deals in buying and selling unique second hand items.

"We don't want this cash transaction to be taken away from us. It's an everyday transaction," Guidry explains.

Guidry says, "I think everyone in this business once they find out about it. They're will definitely be a lot of uproar."

The law states those who buy or sell second hand goods are prohibited from using cash. State representative Rickey Hardy co-authored the bill.​

In yet another instance of "Ready, Fire, Aim!", a Democrat writes a law that has negative impact far beyond any good it might have done.

Good job, asshat.

 

[ScienceRocks]

This is pure insanity

 

[Photonic]

Well, if it's true, that's fucking stupid.

 

[Dr.Traveler]

Hmmm.... hadn't heard of this one. I know that there was an issue a month or so back that they wanted pawn shops to have tighter records in Louisiana to cut down on thefts of gold, silver, electronics, etc.

It sounds to me like this is a step along a similar line. Payment methods other than cash leave a paper trail, meaning you can track some of these items if need be. Plus, who's really using cash right now? I very rarely see cash transactions when I'm in line at the grocery store, target or walmart. It seems everyone is using plastic (credit cards and food stamps).

It's definitely going to hurt businesses though, something that really isn't a great idea in this economy.

BTW: I'd add to the OP. If this became a law, it had to get past (R) Bobby Jindal and a pretty solidly (R) legislature. The Democratic party is pretty much a non-existent entity in Louisiana now. A fair number of the elections on Saturday won't actually have any Democratic nominee at all. Your choices are (R) or (R). (There can be a lot of Republican candidates for a single office thanks to the Napoleonic system in place here).

 

[Remodeling Maidiac]

WTF?!?

Who authored that king of stupid bills?

 

[percysunshine]

Law Bans Cash for Second Hand Transactions

Cold hard cash. It's good everywhere you go, right? You can use it to pay for anything.

But that's not the case here in Louisiana now. It's a law that was passed during this year's busy legislative session.

House bill 195 basically says those who buy and sell second hand goods cannot use cash to make those transactions, and it flew so far under the radar most businesses don't even know about it.

"We're gonna lose a lot of business," says Danny Guidry, who owns the Pioneer Trading Post in Lafayette. He deals in buying and selling unique second hand items.

"We don't want this cash transaction to be taken away from us. It's an everyday transaction," Guidry explains.

Guidry says, "I think everyone in this business once they find out about it. They're will definitely be a lot of uproar."

The law states those who buy or sell second hand goods are prohibited from using cash. State representative Rickey Hardy co-authored the bill.​

In yet another instance of "Ready, Fire, Aim!", a Democrat writes a law that has negative impact far beyond any good it might have done.

Good job, asshat.

I lived in Nawlins for four years. Written law has no relationship to practiced or enforced law....chuckle

 

[daveman]

Hmmm.... hadn't heard of this one. I know that there was an issue a month or so back that they wanted pawn shops to have tighter records in Louisiana to cut down on thefts of gold, silver, electronics, etc.

It sounds to me like this is a step along a similar line. Payment methods other than cash leave a paper trail, meaning you can track some of these items if need be. Plus, who's really using cash right now? I very rarely see cash transactions when I'm in line at the grocery store, target or walmart. It seems everyone is using plastic (credit cards and food stamps).

It's definitely going to hurt businesses though, something that really isn't a great idea in this economy.

BTW: I'd add to the OP. If this became a law, it had to get past (R) Bobby Jindal and a pretty solidly (R) legislature. The Democratic party is pretty much a non-existent entity in Louisiana now. A fair number of the elections on Saturday won't actually have any Democratic nominee at all. Your choices are (R) or (R). (There can be a lot of Republican candidates for a single office thanks to the Napoleonic system in place here).

Good point. Here's the vote. They're ALL idiots, except for Neil Riser.

 

[eflatminor]

Outlawing cash...a law only a progressive could love.

Tell me this won't pass Constitutional muster.

 

[paulitician]

Nanny State blues. Another completely useless law. Time to scale back Government intrusion and oppression. This Nanny State will only lead to a Police State/Prison State eventually. It's already happening.

 

[Dr.Traveler]

Woke up this morning and realized what this was really about. In Louisiana sales tax is out of control and it is on everything. No food exemptions, non profits pay, etc. This is about tax collection.

 

[Ravi]

Red state madness.

Herman Cain will love it since he wants the poor to buy used goods.

 

[editec]

House bill 195 basically says those who buy and sell second hand goods cannot use cash to make those transactions, and it flew so far under the radar most businesses don't even know about it.

IF that's true?

That law is insane.

 

[Ravi]

Well, I skimmed the actual law and it sounds more like it applies to second hand dealers not the buying public. Second hand dealers can't buy things to resell and pay in cash.

 

[Conservative]

did anyone bother to READ the amendment that Daveman linked to?
I just did.

There is no mention of preventing/banning cash transactions. None. The only reference I see to cash is a requirement to report cash transactions over $25.00.

Um... what's the problem here, again?

 

[konradv]

Well, I skimmed the actual law and it sounds more like it applies to second hand dealers not the buying public. Second hand dealers can't buy things to resell and pay in cash.

Hey Dave, where's THAT in the story? This isn't about going into a store and not being able to pay in cash. Why are you pretending it is?

 

[Conservative]

Well, I skimmed the actual law and it sounds more like it applies to second hand dealers not the buying public. Second hand dealers can't buy things to resell and pay in cash.

I don't know what the original law says, as I don't see a link to it in here. However, the amendment that Dave started this thread about says nothing about not being able to pay for things in cash.

 

[Ravi]

Well, I skimmed the actual law and it sounds more like it applies to second hand dealers not the buying public. Second hand dealers can't buy things to resell and pay in cash.

I don't know what the original law says, as I don't see a link to it in here. However, the amendment that Dave started this thread about says nothing about not being able to pay for things in cash.

Yeah, it sounds like the guy in the OP is upset that he won't be able to run two sets of books and pocket the cash.

I don't feel sorry for him.

 

[zzzz]

I wonder what this does to yard sells?

§1864.3. Payment by check or money order required
11 A secondhand dealer shall not enter into any cash transactions in payment for
12 the purchase of junk or used or secondhand property. Payment shall be made in the
13 form of check, electronic transfers, or money order issued to the seller of the junk or
14 used or secondhand property and made payable to the name and address of the seller.
15 All payments made by check, electronic transfers, or money order shall be reported
16 separately in the daily reports required by R.S. 37:1866.
17 §1864.4. Statement by seller required; failure to exact statement evidence of
18 fraudulent intent; exoneration from criminal knowledge
19 A.(1) Every secondhand dealer shall obtain a signed statement from the
20 seller that the junk or used or secondhand property has been paid for or is owned by
21 the seller, and a failure of the dealer to exact a statement from the seller shall be
22 prima facie evidence of the fraudulent intent and guilty knowledge on the part of the
23 dealer within the meaning of this Part, sufficient to warrant a conviction

http://www.legis.state.la.us/billdata/streamdocument.asp?did=760886

 

[bitterlyclingin]

The Government needs to know where all of IT's money goes, so they can tax it. Just a not so subtle reminder that Big Brother is watching you, constantly. Mr Jindal, Republican Governor, sir, is that egg on your face? Oh my! Whatever you have on your face smells just awful. I don't think its egg.

 

[Dr.Traveler]

I wonder what this does to yard sells?

§1864.3. Payment by check or money order required
11 A secondhand dealer shall not enter into any cash transactions in payment for
12 the purchase of junk or used or secondhand property. Payment shall be made in the
13 form of check, electronic transfers, or money order issued to the seller of the junk or
14 used or secondhand property and made payable to the name and address of the seller.
15 All payments made by check, electronic transfers, or money order shall be reported
16 separately in the daily reports required by R.S. 37:1866.
17 §1864.4. Statement by seller required; failure to exact statement evidence of
18 fraudulent intent; exoneration from criminal knowledge
19 A.(1) Every secondhand dealer shall obtain a signed statement from the
20 seller that the junk or used or secondhand property has been paid for or is owned by
21 the seller, and a failure of the dealer to exact a statement from the seller shall be
22 prima facie evidence of the fraudulent intent and guilty knowledge on the part of the
23 dealer within the meaning of this Part, sufficient to warrant a conviction

http://www.legis.state.la.us/billdata/streamdocument.asp?did=760886

Ok, this is what I expected. The second hand dealer can't pay in cash. This is an attempt to help generate a paper trail for all of the transactions a second hand dealer does. It's in response to the rising crime incidents of theft. People are turning around and selling stolen stuff to the pawn shops, getting paid in cash, and disappearing. This will stop that.

I knew the legislature was going to tackle stolen goods in pawn shops, sounds like that's what's happening here.