Florida SB 1074: Debt Relief Services

Bill Text

1074 
One-cent Piece 
2026-03-18T10:48:16Z 
Defining the term “cash”; authorizing dealers to round to the nearest nickel in certain circumstances; providing that rounding to the nearest nickel is not a deceptive and unfair trade practice in certain circumstances; requiring that certain cash payments be made in the full amount due or rounded in a specified manner in certain circumstances, etc. 
ENROLLED 
2026 
S 
2026-05-11T00:00:00Z 
GB 
General Bill 
er 

 ENROLLED 
 2026 Legislature CS for SB 1074 

 20261074er 
 1 
 2 An act relating to the one-cent piece; amending s. 
 3 212.12, F.S.; defining the term “cash”; authorizing 
 4 dealers to round to the nearest nickel in certain 
 5 circumstances; specifying the methodology for such 
 6 rounding; providing applicability and construction; 
 7 amending s. 501.212, F.S.; providing that rounding to 
 8 the nearest nickel is not a deceptive and unfair trade 
 9 practice in certain circumstances; amending s. 
 10 538.235, F.S.; requiring that certain cash payments be 
 11 made in the full amount due or rounded in a specified 
 12 manner in certain circumstances; providing an 
 13 effective date. 
 14 
 15 Be It Enacted by the Legislature of the State of Florida: 
 16 
 17 Section 1. Paragraph (c) is added to subsection (10) of 
 18 section 212.12, Florida Statutes, to read: 
 19 212.12 Dealer’s credit for collecting tax; penalties for 
 20 noncompliance; powers of Department of Revenue in dealing with 
 21 delinquents; rounding; records required.— 
 22 (10) 
 23 (c)1. For purposes of this paragraph, the term “cash” has 
 24 the same meaning as defined in 12 U.S.C. s. 4001. 
 25 2. If the 1-cent piece is no longer in production, an in 
 26 person cash transaction may be rounded to the nearest nickel 
 27 using the following methodology: 
 28 a. If the final digit of a cash transaction ends in 1 or 2 
 29 cents, it must be rounded down to zero. 
 30 b. If the final digit of a cash transaction ends in 3 or 4 
 31 cents, it must be rounded up to 5 cents. 
 32 c. If the final digit of a cash transaction ends in 6 or 7 
 33 cents, it must be rounded down to 5 cents. 
 34 d. If the final digit of a cash transaction ends in 8 or 9 
 35 cents, it must be rounded up to 10 cents. 
 36 e. Cash transactions ending in 0 or 5 cents are not 
 37 rounded. 
 38 3. Rounding to the nickel applies only to cash 
 39 transactions. Rounding to the nickel does not apply to any 
 40 transaction for which payment is made by a noncash method, 
 41 including electronic funds transfer; check; gift card; money 
 42 order; credit card; or mixed tender, except to the extent that 
 43 cash is dispersed to the purchaser. 
 44 4. Rounding to the nickel does not alter the sales price, 
 45 the amount of tax collected under this chapter, or any 
 46 surcharges, assessments, or fees imposed on the sale. 
 47 5. Rounding to the nickel may apply to the amount of the 
 48 transaction or to the amount of change tendered to the 
 49 purchaser. 
 50 6. Rounding to the nickel does not alter or affect the 
 51 exact amounts authorized, cleared, or settled through any 
 52 noncash payment system or electronic transaction. 
 53 Section 2. Subsection (8) is added to section 501.212, 
 54 Florida Statutes, to read: 
 55 501.212 Application.—This part does not apply to: 
 56 (8) Rounding a consumer sale to the nickel if the 1-cent 
 57 piece is no longer in production. 
 58 Section 3. Present subsections (2) and (3) of section 
 59 538.235, Florida Statutes, are redesignated as subsections (3) 
 60 and (4), respectively, and a new subsection (2) is added to that 
 61 section, to read: 
 62 538.235 Method of payment.— 
 63 (2) Any cash payment made to a seller under this section 
 64 shall be made in the full amount due or rounded up to the 
 65 nearest nickel if the 1-cent piece is no longer in production. 
 66 Section 4. This act shall take effect upon becoming a law.