Overview
- SB 1074 directs cash totals to the nearest nickel using set thresholds: 1–2 cents round down to 0, 3–4 up to 5, 6–7 down to 5, and 8–9 up to the next 10.
- The policy applies only to cash payments, with electronic transactions unchanged and sales tax still calculated on the stickered amount before rounding.
- The House approved the Senate bill 111-1 and sent it to Gov. Ron DeSantis; if signed, it would take effect immediately.
- Sen. Don Gaetz sponsored the measure, and Rep. Fiona McFarland presented the Senate bill after carrying an identical House version (HB 951).
- Federal officials halted penny production citing cost, projecting about $56 million in annual material savings, while roughly 114 billion existing pennies will continue to be recirculated.