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Committee hears guidance bill for penny rounding after minting cessation
Summary
Sen. Doug Ricks presented RS33423, nonmandatory guidance for merchants on penny rounding after pennies stopped being minted, clarifying rounding at invoice total and tax calculation on final amount; the committee voted to send the RS to print.
Senator Doug Ricks (District 34) described RS33423 as a nonbinding industry guidance bill addressing merchant responses to diminishing penny supplies after the U.S. stopped minting pennies. He said the measure permits merchants to round cash transactions on the invoice total while preserving exact accounting for electronic payments: "Merchants may do this. It's not forcing them to do it as a requirement, but it just provides some common-sense industry-appropriate standards."
Ricks emphasized the bill ensures taxes are calculated on the final invoice amount, not on each line item. Committee members made no substantive challenges during this introduction and approved a motion to send RS33423 to print.
