SB1810 amends Tennessee law to allow rounding cash transactions to the nearest nickel instead of the nearest penny.
SB1810 modifies Tennessee Code to allow rounding cash transactions to the nearest nickel if the penny is not available. This applies to both public and private entities. For mixed-tender transactions, rounding applies only to the cash portion. The rounding does not affect electronic transactions or the exact amounts settled through non-cash systems. The law also specifies rules for rounding based on the cents in the total amount. This act takes effect immediately upon becoming law.
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- Impact
- Legal Framework
- Critical Issues
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