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Banking and Insurance Committee gives HB545 favorable report after brief debate on cash-rounding rules
Summary
The Senate Banking and Insurance Committee gave a favorable report to HB545, a bill from Representative Crow that would set rules for rounding cash transactions to the nearest five cents; members asked about sponsor experience and a fiscal note that LSA listed as 'none.'
The Senate Banking and Insurance Committee gave a favorable report to House Bill 545 on a single-bill calendar, advancing a proposal from Representative Crow to set statewide guidance for rounding cash transactions.
Representative Crow told the committee HB545 "provides guidance for rounding for our businesses or small businesses in the state that take cash," saying the bill defines how the total purchase is calculated for cash payments. He said the measure would standardize rounding practices for retailers that accept cash.
Committee members focused on sponsor background and fiscal impact. Senator Woods questioned Crow's qualifications, asking, "Do you have expertise in the field of pennies?" Crow replied that his experience in the trucking business gave him practical familiarity with cash handling. When asked whether the Legislative Services Agency produced a fiscal note, Crow said the fiscal note listed "none. Zero." Members observed that any budgetary effect would likely be very small.
Senator Carley moved that the committee give HB545 a favorable report; Senator Woods seconded. The clerk called the roll; Senator Coleman said "No," Senator Shelnut said "I" with reservations, and the clerk concluded the motion had a favorable report and noted "10 votes." The committee did not record a full named tally for every member in the transcript provided.
Senator Smith asked for a technical clarification about rounding. Representative Crow explained the bill rounds to the nearest five cents (a nickel), saying amounts of three or four cents would round up to the next nickel and that the rule applies to the final transaction total.
Crow also said he had discussed the proposal with retail stakeholders and referenced Neil Marson when describing prior collaborative work, noting an earlier transportation plan Crow worked on that he said was later adopted in Kentucky.
After brief additional remarks and recognition of legislative pages, the chair dismissed the committee.
The committee's favorable report sends HB545 to the next legislative step; the transcript does not record a subsequent committee date or final legislative action.
