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Senate committee hears 'penny' bill to allow permissive rounding of cash sales
Summary
Substitute House Bill 2334 would allow permissive asymmetrical rounding for in‑person cash transactions after the U.S. Treasury stopped minting pennies; supporters say retailers lack pennies and need legal guardrails, while members asked about signage and mixed‑tender rules; staff and sponsors said rounding would not affect tax calculations and would be permissive.
The Senate Business, Trade and Economic Development Committee heard Substitute House Bill 2334 on Feb. 18, a bill that would permit sellers to round in‑person cash transactions to eliminate reliance on pennies. Committee staff explained the rounding method: totals ending in 1¢, 2¢, 6¢ and 7¢ would be rounded down; totals ending in 3¢, 4¢, 8¢ and 9¢ would be rounded up. Rounding would be applied after sales and use tax so the tax owed is not changed.
John Kim, committee staff, said the bill is permissive for sellers and state and local agencies, applies only to in‑person cash…
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