Bill > HB3075

This bill, known as the Oklahoma Common Cents Act, establishes a system for rounding cash payments to the nearest five cents for certain government entities and political subdivisions, meaning amounts ending in 1 or 2 cents will be rounded down to zero, 3 or 4 cents up to five cents, 6 or 7 cents down to five cents, and 8 or 9 cents up to ten cents. Initially, this rounding will be optional for political subdivisions until July 1, 2027, after which it becomes mandatory for them, and for state agencies and other specified entities, this rounding will be mandatory from the bill's effective date of November 1, 2026. This rounding rule only applies to cash payments, not to other forms of payment like checks or cards, and specific provisions are made for handling shortages or overages in cash payments for ad valorem taxes and other funds.