H.R. 3074 · SPONSOR LISA C. MCCLAIN R-MI-9
Common Cents Act
- Stops general penny production: The Treasury Secretary would stop producing pennies for general circulation but could continue making them for collectors. Pennies already issued would remain legal tender
- Allows conditional rounding of cash transactions: When exact change cannot be provided, cash transactions could be rounded to the nearest five cents under rules that specify when amounts round up or down; rounding would not be required. The rules would not apply to payments made by methods such as check, card, gift card, or electronic transfer
- Sets rules for cash wage payments: An employer choosing to round a cash payment to an employee would have to round up to the nearest five cents. Employers could still pay an exact amount without rounding
- Introduced
- In committee
- Reported
- Passed House
- Passed Senate
- Law
What’s next: Passed the House. Next step: the Senate.
RESULTS NOT POSTED YET
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