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Retail groups back bill to round cash transactions as Treasury stops minting pennies
Summary
Business groups told the Senate committee they support Senate Bill 6230 to round cash transactions to the nearest nickel after the Treasury announced it would cease producing new pennies; supporters asked for consumer protections and clarifications in the bill text.
The Senate Transportation Committee heard testimony in favor of Senate Bill 6230 on Feb. 5, a bill that would require cash transactions to be rounded to the nearest 5 cents following the U.S. Treasury's announcement it would cease minting new pennies.
John Kim, staff, said the Treasury advised states that rounding conventions would be permissible and the bill establishes precise rounding…
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