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IA SSB3143

SB

Official Source

Status

Introduced

2/10/2026

Primary Sponsor

Commerce

Click for details

Origin

Senate

91st General Assembly

AI Summary

  • Allows sellers, employers, and parties to cash transactions in Iowa to round cents to the nearest five-cent increment for cash payments
  • Amounts ending in 1, 2, 6, or 7 cents may be rounded down to the nearest nickel; amounts ending in 3, 4, 8, or 9 cents may be rounded up
  • Transactions totaling only 1 or 2 cents must be rounded up to 5 cents
  • Rounding rules do not apply to non-cash payments including checks, credit cards, electronic transfers, gift cards, or money orders
  • Responds to the U.S. Mint's suspension of penny production on November 12, 2025

Legislative Description

A bill for an act relating to rounding the amount of cents for cash transactions and payments.(See SF 2456.)

Last Action

Committee report approving bill, renumbered as SF 2456.

2/19/2026

Committee Referrals

Commerce2/10/2026

Full Bill Text

No bill text available