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SB 2498

Finance and Administration, Dept. of - As introduced, requires the department to promulgate rules relating to cash transaction rounding. - Amends TCA Title 47, Chapter 18 and Title 67.

114th Regular Session (2025-2026) Introduced by Sara Kyle

Tennessee bill requires Department of Finance and Administration to establish statewide rules for rounding cash transaction amounts to nearest cent or dollar.

Placed on Senate Finance, Ways, and Means Committee calendar for 4/20/2026
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Bill Summary · SB 2498

Legislative bill overview

SB 2498 requires Tennessee's Department of Finance and Administration to establish rules governing how cash transactions are rounded. The bill amends existing statutes in Title 47 (concerning business regulations) and Title 67 (concerning taxation and revenue). This appears to address the practical issue of handling penny amounts in cash-only transactions.

Why is this important

As cash transactions become less common, questions about rounding rules create potential for inconsistent business practices and consumer confusion. Clear statewide rules could standardize whether businesses round up, down, or to the nearest cent, affecting both retailers and customers in cash-based exchanges. This also has minor tax implications, as rounding practices could theoretically impact reported revenue.

Potential points of contention

  • Regulatory burden: Creates new administrative requirements for a department to draft rules for what many consider a minor issue
  • Business impact variance: Different rounding rules (up vs. down vs. nearest) benefit different parties; retailers, consumers, and tax collection could be affected differently
  • Practical necessity: With digital payments dominant, questions remain about whether statewide rounding rules address a genuine problem or create solutions seeking problems

Compiled from official sources — confirm details with the bill’s official record.

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