Bill > SB1397

This bill requires various state entities, including agencies, boards, commissions, and public trusts, to round down cash transaction prices to the nearest five-cent increment when receiving payments from individuals. Specifically, the bill mandates that the total amount of a cash transaction be adjusted downward to the nearest multiple of five cents, with an exception for tax payments. In cases where a transaction involves both cash and another form of payment, only the cash portion will be subject to the rounding down procedure. The bill is set to take effect on July 1, 2026, and includes an emergency clause that allows for immediate implementation upon passage and approval. The purpose appears to be to simplify cash transactions for state entities and potentially provide a small benefit to individuals making cash payments by rounding amounts in their favor.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb1397&Session=2600