Ohio Lawmakers Propose Phasing Out Pennies in Cash Transactions

New bill would require cash payments to be rounded to the nearest nickel

Mar. 13, 2026 at 12:04am

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Two Ohio state representatives have introduced legislation that would phase out the use of pennies in cash transactions. The proposed bill, House Bill 737, would require all cash payments in Ohio to be rounded to the nearest nickel. The lawmakers argue this would reduce unnecessary costs associated with producing and distributing pennies.

Why it matters

The move to eliminate pennies from cash transactions reflects the changing nature of the economy, as electronic payments become more prevalent. Supporters of the bill say it will support local businesses and reduce costs, though the impact on consumers remains to be seen.

The details

Under the proposed legislation, cash payments would be rounded as follows: Amounts ending in $0.01 or $0.02 would be rounded down to $0.00, amounts ending in $0.03 or $0.04 would be rounded up to $0.05, amounts ending in $0.06 or $0.07 would be rounded down to $0.05, and amounts ending in $0.08 or $0.09 would be rounded up to $0.10. The bill would only apply to cash transactions, leaving electronic payments unaffected.

  • The bill, House Bill 737, has been introduced and is awaiting a committee assignment.

The players

Bill Roemer

A Republican state representative from Richfield, Ohio, who co-introduced the bill.

Thomas Hall

A Republican state representative from Madison Township, Ohio, who co-introduced the bill.

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What they’re saying

“This is common-sense legislation that reflects the reality of today's economy. By rounding cash transactions to the nearest nickel, we can reduce unnecessary costs while allowing constituents and businesses to continue to transact efficiently.”

— Bill Roemer, State Representative (WKEF)

“As our economy continues to evolve, our policies should evolve with it. This bill will support community businesses as well as reduce unnecessary costs.”

— Thomas Hall, State Representative (WKEF)

What’s next

The bill has been introduced and is awaiting a committee assignment, after which it will need to pass through the Ohio legislature before potentially being signed into law.

The takeaway

The proposed legislation to phase out pennies in cash transactions reflects the changing nature of the economy and the desire to reduce unnecessary costs associated with producing and distributing low-value coins. If enacted, it could have implications for both businesses and consumers in Ohio.