00                             HOUSE BILL NO. 281                                                                          
01 "An Act relating to rounding cash transactions to the nearest five cents."                                              
02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
03    * Section 1. AS 45.45 is amended by adding a new section to read:                                                  
04 Sec. 45.45.940. Cash transaction rounding. (a) When processing a cash                                                 
05 transaction, a seller that rounds cash transactions to the nearest five cents shall                                     
06 determine the total price of the transaction by first summing the price of the goods and                                
07 services being purchased, including discounts, then applying applicable sales or other                                  
08 taxes, and then, when necessary to obtain a total divisible by five cents, rounding as                                  
09       follows:                                                                                                          
10                 (1)  if the total ends in one cent, two cents, six cents, or seven cents, the                           
11       total is rounded down to the nearest amount divisible by five cents;                                              
12                 (2)  if the total ends in three cents, four cents, eight cents, or nine cents,                          
13       the total is rounded up to the nearest amount divisible by five cents.                                            
14            (b)  This section does not apply to transactions for which payment is made by                                
15       electronic funds transfer, money order, credit card, debit card, electronic payment, or                           
01       other similar payment method.                                                                                     
02            (c)  A tax imposed by the state or a local government does not apply to a gain                               
03       or loss resulting from rounding.                                                                                  
04            (d)  In this section, "seller" means a person who engages in the business of                                 
05       selling, contracting for the sale of, or arranging for the sale of goods or services.