Bill > S1074

This bill, titled the "One-cent Piece," proposes changes to Florida law to allow for rounding of cash transactions to the nearest nickel if the one-cent coin is no longer being produced. It defines "cash" as it is understood in federal law (12 U.S.C. s. 4001) and outlines a specific methodology for rounding: amounts ending in 1 or 2 cents are rounded down to zero, 3 or 4 cents up to 5 cents, 6 or 7 cents down to 5 cents, and 8 or 9 cents up to 10 cents, while transactions ending in 0 or 5 cents remain unchanged. This rounding would only apply to cash payments and not to electronic transfers, checks, or other non-cash methods, and it would not change the actual sales price or the amount of tax collected. The bill also clarifies that this rounding practice will not be considered a deceptive trade practice and specifies that certain cash payments must be made in the full amount due or rounded up to the nearest nickel.

Budget and Finance

Finance and Tax (Senate)

https://www.flsenate.gov/Session/Bill/2026/1074