119-s1525

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 1525 Introduced in Senate

    (IS) ]

<DOC>

119th CONGRESS
 1st Session
 S. 1525

 To direct the Secretary of the Treasury to stop minting the penny, to 
 require cash transactions to be rounded up or down to the nearest 5 
 cents, and for other purposes.

_______________________________________________________________________

 IN THE SENATE OF THE UNITED STATES

 April 30, 2025

 Ms. Lummis (for herself and Mrs. Gillibrand) introduced the following 
 bill; which was read twice and referred to the Committee on Banking, 
 Housing, and Urban Affairs

_______________________________________________________________________

 A BILL

 To direct the Secretary of the Treasury to stop minting the penny, to 
 require cash transactions to be rounded up or down to the nearest 5 
 cents, and for other purposes.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``Common Cents Act''.

SEC. 2. ELIMINATION OF PRODUCTION OF ONE-CENT COIN.

    (a) Elimination.--Except as provided in subsection

    (b) , and 
notwithstanding any other provision of law (including 

section 5112

    (a)

    (6) of title 31, United States Code), beginning on a date that 
is not later than 1 year after the date of enactment of this Act, the 
Secretary of the Treasury shall cease minting and issuing one-cent 
coins.

    (b) Exception.--

    (1) In general.--On and after the date described in 
 subsection

    (a) , the Secretary of the Treasury shall continue to 
 mint and issue one-cent coins as appropriate solely to meet the 
 needs of numismatic collectors of the one-cent coin.

    (2) Sale.--Any one-cent coin minted and issued under this 
 subsection shall be sold in accordance with 

section 5132

    (a) of 
 title 31 United States Code, and any other provisions of law 
 governing numismatic coins.

    (3) Net receipts.--The net receipts from the sale of a one-
 cent coin minted and issued under this subsection shall equal 
 or exceed the total cost of production, including variable 
 costs and the appropriate share of fixed costs of production, 
 as determined by the Secretary of the Treasury.
            (c) No Effect on Legal Tender.--All coins and currencies of the 
United States, including one-cent coins, regardless of when coined, 
printed, minted, or issued, shall continue to be legal tender for all 
debts, public and private, public charges, taxes, duties, and dues, in 
accordance with law.

SEC. 3. CASH TRANSACTION ROUNDING.

    (a) In General.--Notwithstanding any other provision of law, any 
person selling goods or services in a cash transaction, entering into 
any other transaction that results in a payment or transfer of cash 
between the parties to the transaction, or paying cash wages to an 
employee as compensation shall round the payment in the following 
manner:

    (1) Rounding down.--In any case in which the total 
 transaction amount, including any taxes, ends with 1 cent, 2 
 cents, 6 cents, or 7 cents as the final digit, the amount of 
 cents in the sum shall be rounded down to the nearest amount 
 divisible by 5 for any person seeking to make payment with 
 legal tender.

    (2) Rounding up.--In any case in which the total 
 transaction amount, including any taxes, ends with 3 cents, 4 
 cents, 8 cents, or 9 cents as the final digit, the amount of 
 cents in the sum shall be rounded up to the nearest amount 
 divisible by 5 for any person seeking to make payment with 
 legal tender.

    (b) Exception.--Subsection

    (a) shall not apply to a transaction--

    (1) in which the total transaction amount, including any 
 taxes, totals $0.01 or $0.02, in which case that transaction 
 amount shall be rounded up to $.05 for any person seeking to 
 make payment with legal tender; or

    (2) for which payment is made by any demand or negotiable 
 instrument, electronic fund transfer, check, gift card, money 
 order, credit card, or other similar instrument or method.
            (c) Effective Date.--This section shall take effect on the date 
that is 1 year after the date of enactment of this Act.
 <all>