A measure allowing certain public cash transactions to be rounded to the nearest nickel has cleared the Oklahoma House with unanimous support.
Oklahoma Representative Derrick Hildebrant is the author of House Bill 3075, also known as the Common Cents Act. The proposal applies only to payments made in cash to public entities and would not impact private sector transactions or electronic payments.
“This is a simple, practical solution that reflects how people are already using cash today,” Hildebrant said.
The legislation was inspired by a suggestion from Rogers County Treasurer Jason Carini, who identified the need for clear legal authority for state agencies and political subdivisions to round cash transactions as the use of pennies declines.
Under the bill, political subdivisions could choose to begin rounding cash payments upon the measure taking effect through July 1, 2027. After that date, rounding would become mandatory for applicable transactions unless federal law directs otherwise.
The measure also includes provisions for handling accounting differences in ad valorem tax payments and allows local governments to determine how to manage any overages or shortages.
House Bill 3075 now advances to the Oklahoma Senate for further consideration.
