House Bill 3075, authored by Rep. Derrick Hildebrant, R-Catoosa, and Sen. Chuck Hall, R-Perry, establishes standardized rounding rules for cash transactions made to state agencies and political subdivisions. The rounding requirements apply only to cash, public transactions made to government entities and does not impact private businesses or electronic transactions. Payments made by check, debit card, credit card or other electronic methods will not be affected.
“This is a practical solution that reflects how people are already using cash today,” Hildebrant said. “As the use of the penny continues to decline, there is a need for clear statutory authority allowing state agencies and political subdivisions to round cash transactions in a consistent manner. I appreciate the Governor for signing this into law and my colleagues for their unanimous support in moving this measure forward.”
Under the law, cash payments ending in $0.01 or $0.02 would be rounded down to $0.00, amounts ending in $0.03 or $0.04 would be rounded up to $0.05, amounts ending in $0.06 or $0.07 would be rounded down to $0.05, and amounts ending in $0.08 or $0.09 would be rounded up to $0.10.
To address any minimal rounding differences in property tax collections, the measure directs counties to absorb discrepancies through unappropriated general fund revenue. For all other payments, political subdivisions may use any available fund under their control to account for rounding differences.
Hildebrant said the legislation was requested by Rogers County Treasurer Jason Carini after the county reviewed several years of cash transaction data and found the overall impact of rounding would be negligible.
“The Rogers County penny analysis showed the rounding approach is essentially neutral overall, and in some years, it resulted in a slight net gain,” Hildebrant said.
Rogers County analyzed its own data to see what the result of rounding would have been. The county recorded 1,517 cash transactions in 2023, resulting in a net gain of $0.21 cents through rounding. In 2024, 1,555 cash transactions resulted in a net gain of $0.75 cents. In 2025, 1,542 cash transactions resulted in a net gain of $0.86 cents.
The Oklahoma Common Cents Act mirrors similar legislation being considered at the federal level that would end penny production and require cash transactions to round to the nearest five cents.
The Oklahoma Common Cents Act takes effect Nov. 1, for state agencies. Political subdivisions, including cities and counties, will have until July 1, 2027, to transition to the new rounding requirements.
Get Local News!
