HR 3761 · 101th Congress · Finance and Financial Sector

Price Rounding Act of 1989

Introduced 1989-11-20· Sponsored by Rep. Hayes, James A. [D-LA-7]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Subcommittee on Consumer Affairs and Coinage.(1989-12-15)

Plain Language Summary

[AI summary unavailable — showing source text] Price Rounding Act of 1989 - Declares that one-cent coins shall be legal tender to a maximum of 25 cents only if used in quantities divisible by five without fraction or remainder. Prescribes guidelines to round out prices to the nearest five cents (including taxes), except for specified transactions. Declares that State or local taxes shall not apply to gains or losses resulting from rounding. Permits the Secretary of the Treasury to produce one-cent pieces as numismatic items.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Republican
Rep. Kolbe, Jim [R-AZ-5]AZ