Business Regulation - Rounding Cash Transactions - Authorization

SB 893 authorizes retail businesses and employers to round cash transactions to the nearest five cents. It allows merchants to round prices ending in 1-2¢ or 6-7¢ down to the nearest nickel, and prices ending in 3-4¢ or 8-9¢ up to the nearest nickel for transactions of at least 5 cents. For transactions under 5 cents, merchants must round up to 5 cents. The bill also permits employers to round cash wages to the nearest nickel, and it overrides conflicting local regulations. This directly affects businesses processing cash payments and employers paying employees in cash.