Directs the Treasury to stop minting one-cent coins for circulation, allows businesses to round cash totals to the nearest 5 cents, and changes the specifications for a new 5-cent coin.

• Requires the Treasury Secretary to stop producing one-cent coins for general circulation, while allowing sales of penny numismatic items and keeping existing pennies legal tender.
• Allows sellers and financial institutions to round cash transactions up or down to the nearest 5 cents when exact change is not available, and lets employers round cash wages up to the nearest 5 cents.
• Exempts rounding done under this law from violating federal, state, or tribal rules, while leaving minimum wage, overtime, and paid leave requirements in place.
• Requires the Federal Reserve Board to report within 90 days on a plan for penny deposits and orders at coin terminals, and requires periodic progress reports afterward.
• Requires 60 days' notice and a plan before the Treasury discontinues any other circulating coin.

• Banking, Housing, and Urban Affairs Committee (Senate)

Finance and Financial Sector