Florida is preparing for the end of the penny.
A bill (SB 1074) that would allow retailers to round to the nearest nickel following the federal government's decision last year to cease production of the 1-cent coin passed unanimously through the Senate Thursday.
The bill, sponsored by Sen. Don Gaetz, R-Niceville, would only apply to cash transactions.
It "prepares the Florida economy for a time without pennies, which is coming very quickly," Gaetz said.
Rounding to the nearest nickel would not alter the sales price, the amount of tax collected, or any surcharges, assessments or fees imposed on the sale, according to the bill analysis by legislative staffers.
The House version of the bill (HB 951) is ready for a floor vote in that chamber, too.
The United States Treasury minted its last penny in late 2025 after deciding it was "no longer necessary to meet the needs of the United States." The price to create the zinc and copper plated piece jumped from 1.42 cents to 3.69 cents per penny, according to the U.S. Treasury.
The penny was first created in 1792 and was one of the first coins authorized under the Coinage Act.
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