SB 1074 and HB 951 – One-Cent Piece

On Tuesday, March 10, SB 1074 by Senator Don Gaetz (R-Pensacola) was heard on the House Floor and was reported favorably. The identical companion, HB 951, was laid on the table. AIF supports this legislation.
 
This bill clarifies the rounding rules for cash change in the future after the Federal Government stopped production of the penny. Depending on the change owed, the business may round up or down to avoid using a penny.
 
SB 1074 will now be sent to the Governor for consideration.

AIF supports clarifying language in Florida Statutes for the business community to follow while dispensing cash change. As the penny becomes less common, making sure the state has clear and concise procedures will become increasingly important.