Bill > A09274

This bill, known as the "New Yorkers for Common Cents Act," requires merchants in New York state to round cash purchases to the nearest five-cent denomination in order to reduce penny circulation. Specifically, the bill defines a merchant as any business engaged in face-to-face, in-person sales and establishes a rounding method for cash transactions: if the total price ends in one, two, six, or seven cents, the amount will be rounded down to the nearest five-cent increment; if the total price ends in three, four, eight, or nine cents, the amount will be rounded up. The rounding rule does not apply to transactions under four cents or to payments made via electronic methods like credit cards, debit cards, or electronic fund transfers. Additionally, any tax-related gains or losses from rounding will not be subject to taxation, and the superintendent of the department of financial services is authorized to create regulations for implementing the law. The bill will take effect 180 days after becoming law, giving businesses time to prepare for the new rounding procedure.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A9274