Bill > S08580

This bill, known as the "New Yorkers for Common Cents Act," requires merchants in New York state to round cash transaction totals to the nearest five-cent increment when customers are paying with legal tender (coins and cash currency). Specifically, if a transaction total ends in one, two, six, or seven cents, the amount will be rounded down to the nearest five-cent mark; if the total ends in three, four, eight, or nine cents, it will be rounded up. The rounding requirement does not apply to transactions under four cents or to payments made electronically (such as credit cards, debit cards, or electronic transfers). The bill includes provisions that ensure any tax calculations remain unaffected by the rounding process, and it grants the superintendent of financial services the authority to create additional regulations or exemptions for implementation. The law would take effect 180 days after being signed, giving businesses time to adapt to the new rounding procedure, which aims to reduce the circulation of pennies in the state and simplify cash transactions.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/S8580