Florida Senate - 2026                                    SB 1074
       
       
        
       By Senator Gaetz
       
       
       
       
       
       1-00864A-26                                           20261074__
    1                        A bill to be entitled                      
    2         An act relating to the one-cent piece; amending s.
    3         212.12, F.S.; requiring dealers to round to the
    4         nearest nickel in certain circumstances; providing
    5         procedures for such rounding; providing applicability;
    6         requiring that the tax due on rounded transactions be
    7         calculated on the price before rounding; amending s.
    8         501.212, F.S.; providing that rounding to the nearest
    9         nickel is not a deceptive and unfair trade practice in
   10         certain circumstances; providing an effective date.
   11          
   12  Be It Enacted by the Legislature of the State of Florida:
   13  
   14         Section 1. Paragraphs (c) and (d) are added to subsection
   15  (10) of section 212.12, Florida Statutes, to read:
   16         212.12 Dealer’s credit for collecting tax; penalties for
   17  noncompliance; powers of Department of Revenue in dealing with
   18  delinquents; rounding; records required.—
   19         (10)
   20         (c) If the one-cent piece is no longer in production, and
   21  as a result the dealer is unable to round an in-person cash
   22  transaction to the whole cent as required in this subsection,
   23  such transaction must be rounded to the nearest nickel:
   24         1. If the final digit of such cash transaction ends in 1 or
   25  2 cents, it must be rounded down to zero.
   26         2. If the final digit of such cash transaction ends in 3 or
   27  4 cents, it must be rounded up to 5 cents.
   28         3. If the final digit of such cash transaction ends in 6 or
   29  7 cents, it must be rounded down to 5 cents.
   30         4. If the final digit of such cash transaction ends in 8 or
   31  9 cents, it must be rounded up to 10 cents.
   32         5. Cash transactions ending in zero or 5 cents are not
   33  rounded.
   34  
   35  Rounding to the nearest nickel does not apply to transactions
   36  conducted electronically. For mixed-tender transactions,
   37  rounding to the nearest nickel applies only to the portion of
   38  the transaction paid in cash. Rounding under this paragraph will
   39  not alter or affect the exact amounts authorized, cleared, or
   40  settled through any noncash payment system.
   41         (d) The amount of tax due for an in-person cash transaction
   42  does not increase or decrease as a result of rounding under
   43  paragraph (b). The tax due must be calculated pursuant to
   44  paragraph (a) before rounding to the nearest nickel.
   45         Section 2. Subsection (8) is added to section 501.212,
   46  Florida Statutes, to read:
   47         501.212 Application.—This part does not apply to:
   48         (8) Rounding a consumer sale to the nearest nickel if the
   49  one-cent piece is no longer in production.
   50         Section 3. This act shall take effect upon becoming a law.