Massachusetts H5450 addresses rounding of transaction amounts to the nearest five cents when exact change in legal tender is unavailable.

Massachusetts H5450 amends the General Laws to allow rounding of transaction amounts to the nearest five cents when exact change in legal tender is not available. Specifically, if the total transaction amount, including taxes or fees, ends with 3, 4, 8, or 9 cents, the amount is rounded up to the nearest five cents. Conversely, if it ends with 1, 2, 6, or 7 cents, the amount is rounded down. This rounding does not apply if the total transaction amount is $0.01 or $0.02, in which case it may be rounded up to $0.05. The bill also mandates clear disclosure of this rounding practice.

Massachusetts H5450 addresses rounding of transaction amounts to the nearest five cents when exact change in legal tender is unavailable.

Massachusetts H5450 amends the General Laws to allow rounding of transaction amounts to the nearest five cents when exact change in legal tender is not available. Specifically, if the total transaction amount, including taxes or fees, ends with 3, 4, 8, or 9 cents, the amount is rounded up to the nearest five cents. Conversely, if it ends with 1, 2, 6, or 7 cents, the amount is rounded down. This rounding does not apply if the total transaction amount is $0.01 or $0.02, in which case it may be rounded up to $0.05. The bill also mandates clear disclosure of this rounding practice.