OPENING THE RECORD
OPENING THE RECORD
H.R. 3074 · 119TH CONGRESS
This has not become law. Both chambers must pass the same text before sending it to the president. How a bill becomes law.
CONGRESSIONAL RESEARCH SERVICE
Common Cents Act
This bill generally ends the production of the penny and requires rounding to the nearest amount divisible by five for the payment or transfer of cash.
The Department of the Treasury must stop producing the penny, except to meet collector needs. The penny shall continue to be legal tender.
Any person selling goods or services in a cash transaction, entering into other transfers of cash, or paying cash wages to an employee must round the payment up or down in accordance with the bill.
The bill takes effect one year after the date of enactment.
Written by the Congressional Research Service for this version of the bill. Later versions may differ. Read at Congress.gov.