Committee approves penny-rounding rule for public cash transactions

Derek Goldberg, presenting a PCS for Representative Hildebrand, described House Bill 3075 as creating a penny-rounding rule for cash transactions by state agencies, counties and municipalities. He said the federal use of the penny has effectively ended and public entities lack rolls of pennies, creating practical problems for cash-handling.

Goldberg presented an impact analysis from the Rogers County treasurer showing three years of cash-only transactions (2023–2025) with a net cumulative effect of 21¢ in rounding surplus; he said cash payments accounted for 4.7% of transactions in that sample. The bill would authorize standard mathematical rounding to the nearest nickel for cash transactions only and would not affect checks or digital payments.

A motion and second were made; the chair opened the queue and later declared the bill due passed and will report it. The chair adjourned the meeting and said the committee will meet the same time next week.