Allows rounding for cash transactions.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill, passed by the New Jersey Senate Commerce Committee, addresses the potential challenges businesses may face as the U.S. government stops producing pennies. It establishes guidelines for rounding cash transactions to the nearest five-hundredths of a dollar when the price ends in .03 or .04, and to the nearest tenth of a dollar when the price ends in .08 or .09. The bill aims to provide clarity and fairness for both businesses and consumers during this transition. Penalties are included for businesses that fail to follow the rounding rules.
Bill text
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Document of record
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Sponsors
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2 on record
Primary sponsors
Joseph Lagana
Robert Singer
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