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Committee approves bill to round cash transactions to the nearest nickel
Summary
A committee substitute to House Bill 1112 that would round cash transactions to the nearest nickel was explained and approved; the sponsor clarified examples for how amounts such as $100.04 and $100.06 would be handled during questioning.
Chairman Williamson presented a substitute to House Bill 1112 that would apply rounding rules to cash transactions, moving totals to the nearest nickel in specified ranges. "For example, if it was if they owed $100.04 in a cash transaction, they would only pay $100," Williamson said when explaining application of the floor rounding. He further clarified that totals from $100.06 up to $100.09 would be rounded to $100.05.
A committee member asked how rounding should apply to amounts like $1.02 or $1.03; the sponsor reiterated the stated examples and said the intent is to round down amounts below five cents and round up amounts of six to nine cents to the nickel. After a motion and second, the substitute was approved by the committee on voice vote.
The measure was moved onto the committee calendar for additional consideration; no roll-call vote was recorded in the transcript.
