Senate Bill 2498 amends Tennessee law to establish regulations for cash transaction rounding. The bill mandates that the Department of Finance and Administration create rules that require cash transactions to be rounded to the nearest five cents ($0.05). Additionally, the rules must include standards to prevent rounding practices that unfairly benefit sellers and require receipts to clearly itemize transaction subtotals, rounding adjustments, and the total price.

Furthermore, the bill adds a new subdivision to Tennessee Code Annotated, Section 47-18-104(b), which specifies that failure to comply with the cash transaction rounding rules established under this act will be considered a violation. The enforcement of these requirements will be managed by the Department of Finance and Administration using existing resources. The act is set to take effect upon becoming law.

Statutes affected:
Introduced: 47-18-104(b), 47-18-104