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

Showing the cosponsors who are on Agora, A to Z. The official record may list more.

• Democratic1

Shown in neutral colors by design; Agora is non-partisan.

◆ The sponsor's argument

Why James Skoufis says this is needed

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.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.