Lake County rounding of local taxes pilot program to accommodate federal penny phaseout.
The bill establishes a pilot program for Lake County to round local tax amounts to the nearest five cents. If a tax amount ends in one, two, six, or seven in the second decimal place, it rounds down. If it ends in three, four, eight, or nine, it rounds up. Amounts less than five cents round down to zero. This program aims to align with the federal phaseout of the penny.
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