S-3889.1

SENATE BILL 6230

BySenators Frame and Stanford

AN ACT Relating to adjusting the price of a cash transaction to eliminate the need for pennies; adding a new section to chapter 82.08 RCW; and adding a new section to chapter 82.12 RCW.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION.  Sec. 1. A new section is added to chapter 82.08 RCW to read as follows:

(1) The total price of any transaction must be adjusted as follows:

(a) If the total price results in a sum ending in one cent, two cents, six cents, or seven cents, the total price must be rounded down to the nearest amount divisible by five cents; or

(b) If the total price results in a sum ending in three cents, four cents, eight cents, or nine cents, the total price must be rounded up to the nearest amount divisible by five cents.

(2) This section applies only to purchases made by legal tender. This section does not apply to transactions for which payment is made by any demand or negotiable instrument, electronic fund transfer, money order, credit card, debit card, electronic payment, or other like instrument.

(3) The department shall adopt rules for transactions that are made by a combination of legal tender and any other form of payment.

(4) For the purposes of this section, the following definitions apply:

(a) "Legal tender" means all coins and currencies of the United States.

(b) "Total price" means the final amount due and payable by the buyer for the purchase of any good, service, or other product, or combination thereof, after all applicable taxes and fees are applied, as well as any discounts or other adjustments are made by the seller.

(c) "Transaction" means the entire purchase by a buyer from a seller for all goods, services, and other products, at that date and time as is shown on an invoice or receipt. A transaction may include one item or multiple items.

NEW SECTION.  Sec. 2. A new section is added to chapter 82.12 RCW to read as follows:

(1) The total price of any transaction must be adjusted as follows:

(a) If the total price results in a sum ending in one cent, two cents, six cents, or seven cents, the total price must be rounded down to the nearest amount divisible by five cents; or

(b) If the total price results in a sum ending in three cents, four cents, eight cents, or nine cents, the total price must be rounded up to the nearest amount divisible by five cents.

(2) This section applies only to transactions made by legal tender. This section does not apply to transactions for which payment is made by any demand or negotiable instrument, electronic fund transfer, money order, credit card, debit card, electronic payment, or other like instrument.

(3) The department shall adopt rules for transactions that are made by a combination of legal tender and any other form of payment.

(4) For the purposes of this section, the following definitions apply:

(a) "Legal tender" means all coins and currencies of the United States.

(b) "Total price" means the final amount due and payable by the buyer for the purchase of any good, service, or other product, or combination thereof, after all applicable taxes and fees are applied, as well as any discounts or other adjustments are made by the seller.

(c) "Transaction" means the entire purchase by a buyer from a seller for all goods, services, and other products, at that date and time as is shown on an invoice or receipt. A transaction may include one item or multiple items.

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