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Tennessee comptroller encourages governments to provide new payment methods following penny discontinuance
Tennessee Comptroller Jason Mumpower outlined five payment options to address penny discontinuation, emphasizing exact change and electronic alternatives for local governments.
- Comptroller Jason Mumpower issued a statewide memo Tuesday from Knoxville advising local governments across Tennessee to consider five ways to adjust payment procedures after the penny ended.
- Because the U.S. Mint reported high production costs of 3.69 cents per penny, the federal government ended penny production in 2025 despite about 114 billion pennies in circulation.
- The memo recommends offering electronic payment alternatives and encouraging exact change for cash, crediting customer accounts for non-exact cash, declining some payment types, or adjusting fees to five or ten cents where lawful.
- Before adopting changes, local governments must ensure uniform application and consult legal counsel, train staff, communicate clearly, and confirm accounting systems can handle adjustments.
- Rep. Charlie Baum introduced a bill Tuesday permitting rounding to the nearest nickel, and House Bill 1744 excludes electronic transactions while taxes are based on exact amounts, with the National Conference of State Legislatures urging legal clarity.
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WBBJ TVComptroller releases guidance following penny discontinuance
The Tennessee Comptroller of the Treasury has issued guidance to help local governments, including utility systems, adjust their payment processing practices in a fair, transparent, and legally sound manner.
·Memphis, United States
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Total News Sources6
Leaning Left0Leaning Right2Center4Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
C 67%
R 33%
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