OKLAHOMA CITY — Legislation that would allow and later require certain public cash transactions to be rounded to the nearest nickel has passed a House policy committee and now moves to an oversight committee.
Authored by Rep. Derrick Hildebrant, R-Catoosa, House Bill 3075, formally titled the Oklahoma Common Cents Act, would not apply to the private sector and would apply only to public payments made in cash or the portion paid in cash. The measure does not apply to checks, debit cards, credit cards, electronic payments or other digital transactions.
“This is a simple, practical bill that modernizes how we handle cash payments without impacting anyone who pays digitally,” Hildebrant said. “HB3075 is limited to public cash transactions only. If you’re paying online or with a card, nothing changes.”
Under HB3075, final cash amounts owed to a political subdivision would be rounded to the nearest nickel. Amounts ending in $0.01 or $0.02 would be rounded down to $0.00, amounts ending in $0.03 or $0.04 would be rounded up to $0.05, amounts ending in $0.06 or $0.07 would be rounded down to $0.05, and amounts ending in $0.08 or $0.09 would be rounded up to $0.10…