#aaith ,,congress  #b;d ,session  ,h4   
,r4 #cjgd  ,,an ,,act  ,to direct the   
,secretary of the ,treasury to stop     
minting the penny1 to permit cash       
transactions to be rounded up or down to
 the nearest five cents1 and for other  
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,common ,cents ,act4
  #b4 ,specifications of #e-;cent coins 
and ceasing production of one-cent coins
 ,section #eaab of title #ca1 ,united   
,states ,code1 is amended--  7#a7 in    
subsection 7a7-- 7,a7 in paragraph 7#e71
 by striking weighs #e grams4 and       
inserting the following3  weighs-- 7,a7 
#e grams1 with respect to such coin that
 is an alloy of copper and nickel2 or   
7,b7 between #d and #f grams1 with      
respect to such coin as described in    
subsection 7c74  2 and  7,b7 in         
paragraph 7#f7--  7i7 by striking except
 as provided under subsection 7c7 of    
this section12 and  7ii7 by striking and
 weighs #c4aa grams2  7#b7 in subsection
 7b7-- 7,a7 in the sixth sentence--  7i7

 by inserting either before an alloy2   
and  7ii7 by inserting or a composition 
described in subsection 7c7 before the  
period2  7,b7 by inserting with respect 
to such coins that are an alloy of      
copper and nickel after nickel required2
 and  7,c7 by striking ,except through  
zinc and inserting ,the one-cent coin is
 composed of copper and zinc2  7#c7 by  
amending subsection 7c7 to read as      
follows3  7c7 #e-;cent coin  7#a7 ,in   
general ,the #e-;cent coin may be a coin
 with an inner layer of zinc and an     
outer layer of nickel4  7#b7            
,composition ,the ,secretary may        
prescribe the composition of zinc and   
nickel in the #e-;cent coin1 subject to 
testing and evaluation that such        
composition-- 7,a7 reduces the cost     
incurred to produce such coin2 and  7,b7
 to the greatest extent practicable1 has
 a minimal adverse impact on machines   
designed to accept coins4  2 and  7#d7  
by adding at the end the following3     
7bb7 ,ceasing production of one-cent    

coin  7#a7 ,in general ,notwithstanding 
any other provision of law1 the         
,secretary shall cease production of    
one-cent coins for general circulation1 
but may continue to produce and issue   
one-cent coins for sale as numismatic   
items4  7#b7 ,no effect on legal tender 
,any one-cent coin that is minted and   
issued on any date before the date of   
the enactment of this subsection shall  
remain legal tender for all debts1      
public charges1 taxes1 and dues4  4  #c4
 ,cash transaction rounding  7a7 ,in    
general ,any person1 including a        
financial institution1 selling goods or 
services in a cash transaction or       
entering into any other transaction that
 results in a payment or transfer of    
cash between the parties to the         
transaction may1 if exact change cannot 
be provided at that time of such        
transaction1 round the covered amount in
 the following manner3 7#a7 ,rounding   
down ,except as provided in paragraph   
7#b77;,b71 in any case in which the     

covered amount ends with #a cent1 #b    
cents1 #f cents1 or #g cents as the     
final digit1 the amount of cents in the 
sum may be rounded down to the nearest  
amount divisible by #e for any person   
seeking to make payment with cash4  7#b7
 ,rounding up  7,a7 ,in general ,in any 
case in which the covered amount ends   
with #c cents1 #d cents1 #h cents1 or #i
 cents as the final digit1 the amount of
 cents in the sum may be rounded up to  
the nearest amount divisible by #e for  
any person seeking to make payment with 
cash4  7,b7 ,small transactions ,in any 
case in which the covered amount totals 
#j4ja or #j4jb1 such amount may be      
rounded up to 4#je for any person       
seeking to make payment with cash4  7b7 
,additional authority to round ,with    
respect to a person1 including a        
financial institution1 conducting a cash
 transaction with a customer of the     
person1 the amount of cents in the sum  
of the transaction may be rounded1 if   
such rounding is in favor of the        

customer1 as follows3 7#a7 ,up to the   
nearest amount divisible by #e1 if the  
person is paying the customer in cash4  
7#b7 ,down to the nearest amount        
divisible by #e1 if the customer is     
paying the person in cash4  7c7         
,employer payments to employees  7#a7   
,in general ,with respect to an employer
 providing a cash payment to an employee
 in an amount that is not divisible by  
#e cents1 if the employer chooses to    
round the amount of cents in such       
payment1 the employer shall round the   
amount of cents in such payment up to   
the nearest amount divisible by #e      
cents4  7#b7 ,no rounding requirement   
,nothing in this subsection may be      
construed to require rounding by an     
employer described in paragraph 7#a7 who
 provides a cash payment to an employee 
in an exact amount4  7d7 ,application   
,subsections 7a71 7b71 and 7c7 shall not
 apply to any transaction for which     
payment is made by any demand or        
negotiable instrument1 electronic fund  

transfer1 check1 gift card1 money order1
 credit card1 or other like instrument  
or method4  7e7 ,rule of construction   
,nothing in this ,act may be construed  
to require any person to round a payment
 as described in subsections 7a7 or 7b74
  7f7 ,covered amount defined ,in this  
section1 the term covered amount means--
  7#a7 the total transaction amount1    
including taxes2 or  7#b7 in the case of
 a person selling goods or services in a
 cash transaction or entering into any  
other transaction that results in a     
payment or transfer of cash between the 
parties to the transaction1 the amount  
of change due to the customer if the    
customer provides a cash payment that   
exceeds the total transaction amount1   
including taxes4  #d4 ,treatment of     
,federal1 ,state1 and ,tribal law with  
respect to cash transaction rounding    
7a7 ,federal law ,any person selling    
goods or services in a cash transaction1
 including a financial institution1     
entering into any other transaction that

 results in a payment or transfer of    
cash between the parties to the         
transaction shall not be in violation of
 any ,federal requirement1 law1         
regulation1 or standard based on the    
adherence to the cash rounding          
provisions described in section #c4  7b7
 ,state and ,tribal law ,any person     
selling goods or services in a cash     
transaction1 including a financial      
institution1 entering into any other    
transaction that results in a payment or
 transfer of cash between the parties to
 the transaction shall not be in        
violation of any requirement1 law1      
regulation1 or standard of a ,state1    
,tribe1 or a political subdivision of a 
,state based on the adherence to the    
cash rounding provisions described in   
section #c4  7c7 ,rule of construction  
,nothing in this ,act or of any order   
thereunder shall excuse noncompliance   
with any ,federal1 ,state1 ,tribal1 or  
local law1 regulation1 ordinance1 or    
requirement establishing a minimum wage1

 providing for overtime pay             
requirements1 or providing for paid     
leave4  #e4 ,strategic plan and report  
on coin terminal operations and coin    
distribution stability  7a7 ,strategic  
,plan and ,report ,not later than #ij   
days after the date of the enactment of 
this ,act1 the ,board of ,governors of  
the ,federal ,reserve ,system shall     
submit to the covered committees and    
make publicly available a report that   
outlines a strategic plan for the       
acceptance of penny orders and deposits 
at commercial coin terminals providing  
services under agreements with the      
,federal reserve banks nationwide1      
including--  7#a7 a description of the  
,board's approach to limiting           
disruptions in penny supply and         
maintaining the stability of and        
efficiency of the coin distribution     
system1 to the greatest extent          
practicable2  7#b7 an evaluation of such
 coin terminals where the ,federal      
reserve banks no longer accept penny    

deposits or penny orders2  7#c7 an      
assessment of whether processing penny  
deposits or penny orders at such coin   
terminals could mitigate any challenges 
related to ceasing the production of the
 penny1 including challenges related to 
the implementation of rounding          
practices2  7#d7 an assessment by the   
,secretary of the ,treasury1 which the  
,secretary shall conduct and deliver to 
the ,board not less than #fj days after 
the date of enactment of this ,act--    
7,a7 on the impact of penny supply and  
demand disruptions1 and rounding        
practices for check cashing1 on         
low-income communities1 older consumers1
 debanked1 unbanked1 and underbanked    
individuals1 including feedback from    
,state or local entities2 and  7,b7 that
 includes recommendations to the        
,congress to address any adverse impacts
 identified under subparagraph 7,a72 and
  7#d7 any additional considerations the
 ,board determines relevant to          
maintaining penny distribution          

stability4  7b7 ,evaluation  7#a7 ,in   
general ,not later than #f months after 
submission of the report required under 
subsection 7a71 the ,board of ,governors
 of the ,federal ,reserve ,system shall 
submit to the covered committees and    
make publicly available a report that   
evaluates the progress of implementing  
the strategic plan described in         
subsection 7a71 including--  7,a7 any   
material changes to the plan2 and  7,b7 
any identified or emerging stress in the
 penny distribution system4  7#b7       
,successive reports ,the ,board of      
,governors of the ,federal ,reserve     
,system shall submit to the covered     
committees and make publicly available  
#b additional reports that evaluate the 
progress described in paragraph 7#a7 on 
dates that are not later than-- 7,a7 #ah
 months after the submission of the     
report required under subsection 7a72   
and  7,b7 #cj months after the          
submission of the report required under 
subsection 7a74  #f4 ,definitions ,in   

this ,act3  7#a7 ,covered committees    
,the term covered committees means--    
7,a7 the ,committee on ,financial       
,services of the ,house of              
,representatives2 and  7,b7 the         
,committee on ,banking1 ,housing1 and   
,urban ,affairs of the ,senate4  7#b7   
,financial institution ,the term        
financial institution means any person1 
other than an individual1 the business  
of which is engaging in financial       
activities in section #d7k7 of the ,bank
 ,holding ,company ,act of #aief 7#ab   
,u4,s4,c4 #ahdc7k774  ,passed the ,house
 of ,representatives ,july #ad1         
#bjbf4;,clerk4