SB 2498

This bill requires t he department of finance and administration to promulgate rules governing cash transaction rounding. Such rules must (i) r equire rounding to the nearest five cents, through the establishment of specific rounding methodology; ( ii ) c reate specific standards to prohibit rounding practices that systematically favor the seller; and ( iii ) r equire receipts to clearly itemize transaction subtotals, a ny rounding adjustments , and t he total price for transactions. The department must enforce such requirements and ru les promulgated through the use of existing funds, personnel, and other such resources. This bill provides that f ailure to comply with a cash transaction rounding rule promulgated under this bill constitutes a violation of the Tennessee Consumer Protection Act of 1977 and is subject to the penalties and remedies as provided in that Act, which includes, but is not limited to, restraining orders, injunctions, private rights of action, and damages.