Senate Bill S8580

2025-2026 Legislative Session

Requires merchants to round cash purchases to the nearest five cent denomination in order to reduce the circulation of pennies within New York state

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Current Bill Status - In Senate Committee Rules Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Date of Action	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Nov 14, 2025	referred to rules

2025-S8580 (ACTIVE) - Details

Current Committee:: Senate Rules
Law Section:: General Business Law
Laws Affected:: Add §399-ooo, Gen Bus L

2025-S8580 (ACTIVE) - Summary

Requires merchants to round cash purchases to the nearest five cent denomination in order to encourage the reduction of the circulation of pennies within New York state.

2025-S8580 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S8580

SPONSOR: SKOUFIS
 
TITLE OF BILL:

An act to amend the general business law, in relation to requiring
merchants to round cash purchases to the nearest five cent denomination
in order to reduce the circulation of pennies within New York state

 
PURPOSE:

To require merchants to round cash purchases to the nearest five-cent
denomination.

 
SUMMARY OF PROVISIONS:

Section 1: This act shall be known and may be cited as the "New Yorkers
for Common Cents Act".

Section 2: Adds a new section 399-00o to the general business law,
defining "merchants" and "legal tender." Requires NYS merchants to
determine the total price of goods and services (inclusive of any

discount, deduction, sales tax, or any other tax imposed) and round to
the following for individuals seeking to pay with legal tender:

* If 1-2 or 6-7 cents are at the end of the resulting sum, then that
amount shall be rounded down to the nearest amount divisible by 5, or

* If 3-4 or 8-9 cents are at the end of the resulting sum, then that
amount shall be rounded up to the nearest amount divisible by 5.

This determination of the total price of goods shall not apply to trans-
actions for which the total amount is 4 cents or less, as well as to
transactions for which payment is made by any negotiable instrument,
electronic fund transfer, money order, credit card, debit card, elec-
tronic payment, or other like instrument. Additionally, any state or
municipal tax imposed shall not apply to gains or losses from rounding.

Section 3: Sets effective date.

 
JUSTIFICATION:

The United States penny, once a fixture of everyday commerce, has become
an inconvenience in cash transactions. Today, it costs more to mint than
it is worth, underscoring its obsolescence. In May 2025, the U.S. Treas-
ury placed its final order for blank pennies, marking the beginning of
its permanent phase-out. On November 12, 2025, the US Mint produced the
last penny.

As pennies gradually disappear from circulation, cash transactions
rounded to the cent will become increasingly impractical. Starting in
the Summer of 2025, businesses started posting signs in stores alerting
customers of a "penny shortage" and asking them to use exact change when
possible.

According to the Associated Press, the phaseout of the penny has sparked
criticism from some retailers because there was no federal guidance on
how they should handle transactions. As a result, each business is
implementing its own policy on how to handle the change, which could
lead to confusion and frustration amongst business owners and consumers
alike.

This bill would modernize and bring uniformity to how cash transactions
are processed in New York State. This will help ensure a smooth transi-
tion as the nation moves away from the penny. The rounding system
outlined in this bill is based on Canada's federal policy when it abol-
ished the country's penny in 2013.

 
LEGISLATIVE HISTORY:

New bill.

 
FISCAL IMPLICATIONS:

None.

 
EFFECTIVE DATE:
This act shall take effect on the one hundred eightieth day after it
shall have become a law.

2025-S8580 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8580
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             November 14, 2025
                                ___________
 
 Introduced  by  Sen. SKOUFIS -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 AN ACT to amend the general  business  law,  in  relation  to  requiring
   merchants  to  round  cash  purchases to the nearest five cent denomi-
   nation in order to reduce the circulation of pennies within  New  York
   state

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1.  Short title. This act shall be known and may be  cited  as
 the "New Yorkers for Common Cents Act".
   §  2.    The  general  business law is amended by adding a new section
 399-ooo to read as follows:
   § 399-OOO. 1. FOR THE PURPOSES OF THIS SECTION,  THE  FOLLOWING  TERMS
 SHALL HAVE THE FOLLOWING MEANINGS:
   (A)  "MERCHANT"  SHALL  MEAN  ANY  PERSON, CORPORATION, OR PARTNERSHIP
 ENGAGED IN THE BUSINESS OF THE SALE OF GOODS  OR  SERVICES  ENGAGING  IN
 FACE-TO-FACE, IN-PERSON SALES.
   (B)  "LEGAL  TENDER" SHALL MEAN ALL COINS AND CURRENCIES OF THE UNITED
 STATES.
   2. NOTWITHSTANDING ANY OTHER PROVISION OF LAW  TO  THE  CONTRARY,  ANY
 MERCHANT DOING BUSINESS IN THIS STATE SHALL DETERMINE THE TOTAL PRICE OF
 SUCH GOODS OR SERVICES IN THE FOLLOWING MANNER:
   (A)  PRICES  OF  GOODS  AND SERVICES SHALL BE TOTALED, ANY DISCOUNT OR
 DEDUCTION THEREFOR MADE, AND SALES TAX OR OTHER  TAX  IMPOSED,  IF  ANY,
 ADDED  TO  THAT  TOTAL IN ACCORDANCE WITH THE LAW OF THE MUNICIPALITY IN
 WHICH SUCH GOODS OR SERVICES ARE SOLD; AND
   (B)(I) IF A MILL, ONE CENT, TWO CENTS, SIX CENTS, OR SEVEN CENTS IS AT
 THE END OF THE RESULTING SUM, THAT SUM SHALL  BE  ROUNDED  DOWN  TO  THE
 NEAREST  AMOUNT  DIVISIBLE  BY FIVE FOR THOSE INDIVIDUALS SEEKING TO PAY
 THEREFOR WITH LEGAL TENDER; OR

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11817-02-5
 S. 8580                             2

 
   (II) IF THREE CENTS, FOUR CENTS, EIGHT CENTS, OR NINE CENTS IS AT  THE
 END  OF  THE  RESULTING SUM, THAT SUM SHALL BE ROUNDED UP TO THE NEAREST
 AMOUNT DIVISIBLE BY FIVE FOR THOSE INDIVIDUALS SEEKING TO  PAY  THEREFOR
 WITH LEGAL TENDER.
   3.  THE  PROVISIONS OF SUBDIVISION ONE OF THIS SECTION SHALL NOT APPLY
 TO THE FOLLOWING:
   (A) TRANSACTIONS FOR WHICH THE TOTAL AMOUNT IS FOUR CENTS OR LESS; OR
   (B) TRANSACTIONS FOR WHICH PAYMENT IS MADE BY ANY DEMAND OR NEGOTIABLE
 INSTRUMENT, ELECTRONIC FUND TRANSFER, MONEY ORDER,  CREDIT  CARD,  DEBIT
 CARD, ELECTRONIC PAYMENT, OR OTHER LIKE INSTRUMENT.
   4.  ANY TAX IMPOSED BY STATE OR MUNICIPAL TAXING AUTHORITIES SHALL NOT
 APPLY TO GAINS OR LOSSES RESULTING FROM ROUNDING.
   5. THE SUPERINTENDENT OF THE  DEPARTMENT  OF  FINANCIAL  SERVICES  MAY
 PROMULGATE  REGULATIONS  TO  IMPLEMENT  THIS SECTION, INCLUDING, BUT NOT
 LIMITED TO, AUTHORIZATION OF EXEMPTIONS OR EXCLUSIONS FROM THIS SECTION.
   § 3. This act shall take effect on the one hundred eightieth day after
 it shall have become a law.

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Senate Bill S8580

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Current Bill Status - In Senate Committee Rules Committee

Actions

2025-S8580 (ACTIVE) - Details

2025-S8580 (ACTIVE) - Summary

2025-S8580 (ACTIVE) - Sponsor Memo

2025-S8580 (ACTIVE) - Bill Text download pdf

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Sponsored By

James Skoufis

Current Bill Status - In Senate Committee Rules Committee

Actions

2025-S8580 (ACTIVE) - Details

2025-S8580 (ACTIVE) - Summary

2025-S8580 (ACTIVE) - Sponsor Memo

2025-S8580 (ACTIVE) - Bill Text download pdf

Comments