New York S08580 requires merchants to round cash purchases to the nearest five cent denomination to reduce penny circulation.

New York S08580 mandates that merchants round cash purchases to the nearest five cent denomination. This rounding applies to transactions where the total amount exceeds four cents and excludes payments made by instruments like credit or debit cards. The rounding rules specify rounding down if the amount ends in six, one, or seven cents, and rounding up if it ends in three, four, eight, or nine cents. This measure aims to decrease the circulation of pennies within New York state.

New York S08580 requires merchants to round cash purchases to the nearest five cent denomination to reduce penny circulation.

New York S08580 mandates that merchants round cash purchases to the nearest five cent denomination. This rounding applies to transactions where the total amount exceeds four cents and excludes payments made by instruments like credit or debit cards. The rounding rules specify rounding down if the amount ends in six, one, or seven cents, and rounding up if it ends in three, four, eight, or nine cents. This measure aims to decrease the circulation of pennies within New York state.