Local agency: payment: rounding amount.

Plain English Breakdown

The official summary and digest do not provide specific details about which terms are defined or how the bill handles payments ending exactly halfway between rounding options, leaving these points uncertain.

Local Agency Payment Rounding

This law allows local agencies to round cash payments and refunds to the nearest five cents if their governing body votes in favor of it.

What This Bill Does

• Allows local agencies to round cash payments they receive or give out to the nearest nickel (five cents).
• Requires a local agency's governing body to vote with at least half of its members in favor before using this rounding rule.

Who It Names or Affects

• Local agencies that choose to use this rounding rule after voting on it.
• People who pay cash to or receive refunds from local agencies that adopt this rule.

Terms To Know

governing body

The group of people in charge of making decisions for a local agency, like city council members or board trustees.

Limits and Unknowns

• This law only applies to local agencies that vote to use it.
• It is not clear which specific local agencies will choose to adopt this rule.

Official Summary Text

SB 1005, as introduced, Caballero.
Local agency: payment: rounding amount.
Existing law requires a public agency to accept specified methods of payment for designated obligations.
This bill would authorize a local agency to round the amount of any payment made wholly or partly in cash to the local agency, or any refund or other amount tendered wholly or partly in cash by the local agency, to the nearest $0.05. The bill would apply to a local agency only if the governing body of the local agency adopts, by majority vote, a resolution to make its provisions applicable to the local agency. The bill would define terms for its purposes.

Current Bill Text

Download Bill PDF