Commerce and trade; rounding of total price of sale of goods or services when using legal tender; provide

The specific rule requiring merchants to round up totals of one or two cents to five cents was removed and replaced with a uniform instruction to round down any total ending in one through nine cents.

The definition of 'Merchant' was updated to remove redundant phrasing regarding 'in-person, face-to-face sales' while retaining the core meaning of selling goods or services.

The committee handling the bill changed from the Committee on Banks and Banking to the Committee on Rules, indicating a shift in the legislative process or focus.

The requirement for rounding was clarified to ensure it only happens after the total price is calculated, and the merchant must first accept exact payment in legal tender.

A new provision was added to explicitly state that state and local taxes do not apply to any profit or loss a merchant makes from rounding prices.

Added a specific definition for 'Merchant' to include only those engaged in in-person, face-to-face sales.

Clarified that the rounding adjustment does not impact the sales price for tax calculation purposes under Code Section 48-8-2.

Added a new provision granting merchants immunity from liability for complying with the rounding requirements.

Added a provision allowing rounding to apply to either the transaction amount or the change tendered to the customer.

Expanded the list of payment methods excluded from rounding rules to include gift cards and electronic funds transfers.