Trade: business practices; requirement for rounding down certain cash transactions; provide for. Amends secs. 2 & 7 of 2011 PA 15 (MCL 445.312 & 445.317).
Key claim: Senate Bill 1014 would require businesses to round down certain cash transactions by amending sections 2 and 7 of Michigan’s 2011 PA 15.
Abstract
(SB1014 · 103rd Legislature) Trade: business practices; requirement for rounding down certain cash transactions; provide for. Amends secs. 2 & 7 of 2011 PA 15 (MCL 445.312 & 445.317). Sponsor: Sen. Jeff Irwin (D) + 3 co-sponsors In committee: S Finance, Insurance, And Consumer Protection Latest action (2026-06-03): Referred To Committee On Finance, Insurance, And Consumer Protection
Why this matters
For cash-paying consumers, mandatory round-down would produce small per-transaction savings and eliminate ambiguity when pennies are unavailable at the register; for businesses, it imposes a uniform pricing rule at point of sale under Michigan’s existing cash-pricing statute. As an introduced amendment to 2011 PA 15, the change is not yet law but signals continued legislative interest in cash-payment consumer protections.