Senate Commerce Committee Statement to Senate, No. 3977 (May 18, 2026)

Summary

Statement to Senate, No. 3977, with committee amendments, from the Senate Commerce Committee of the State of New Jersey, dated May 18, 2026, reporting Senate Bill No. 3977 favorably. The statement says the amended bill establishes rounding requirements, for businesses that choose to follow them, for cash transactions in response to the end of the production of pennies by the federal government in November of 2025, and sets penalties for businesses that adopt the requirements but violate them. It lists amendments that round a price ending in three-hundredths or four-hundredths of a dollar up to the nearest five-hundredths of a dollar, and a price ending in eight-hundredths or nine-hundredths up to the nearest tenth.

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     SENATE COMMERCE COMMITTEE

                    STATEMENT TO

                  SENATE, No. 3977
                   with committee amendments



 STATE OF NEW JERSEY
                       DATED: MAY 18, 2026

    The Senate Commerce Committee reports favorably and with
committee amendments Senate Bill No. 3977.
    As amended, this bill establishes the rounding requirements, for
businesses that choose to follow them, for cash transactions in
response to the end of the production of pennies by the federal
government in November of 2025. While pennies will still
circulate, the bill intends to assist businesses in preparation for a
phaseout in the use of the penny for cash transactions. As noted by
the National Conference of State Legislatures, guidance issued by
states on this issue will provide critical clarity and fairness for
businesses and subsequently, consumers.           Penalties are also
established in the bill for businesses who adopt the rounding
requirements but violate their provisions.
    As amended, nothing in the bill will be construed to prohibit a
program that rounds a purchase or transaction up as a donation;
provided that the program is voluntary, and the consumer has the
right to opt in to and opt out of the donation.

COMMITTEE AMENDMENTS:
    The committee amended the bill to provide that:
    (1) in a cash transaction where the price ends in three-hundredths
or four-hundredths ($.03 or $.04) of a dollar, the transaction will be
rounded up to the nearest five-hundredths of a dollar;
    (2) in a cash transaction where the price ends in eight-hundredths
or nine-hundredths ($.08 or $.09) of a dollar, the transaction will be
rounded up to the nearest tenth of a dollar; and
    (3) nothing in the bill will be construed to prohibit a program that
rounds a purchase or transaction up as a donation; provided that the
program is voluntary, and the consumer has the right to opt in to and
opt out of the donation.


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