In this subtitle the following words have the meanings indicated. “Cash” means United States coins and currency. “Cash” does not include: a paper instrument other than a Federal Reserve note; or a gift card. “Customer” means a purchaser of a good or service from a merchant. “Merchant” means a person engaged in the trade or business of the sale of goods or services. “Price” means the amount due and payable by a customer for a good or service after a merchant: subtracts any discount or deduction; and applies any applicable tax or fee.

This subtitle: does not apply to a transaction for a good or service paid with exact change; and may not be construed to authorize a merchant to round a price for a good or service in a manner that alters the calculation of any tax or fee applicable to the transaction.

This section applies to the portion of the price of an in–person transaction or a telephone, mail, or Internet transaction for which a customer pays using cash if the price totals at least 5 cents. Notwithstanding any other provision of law, a merchant doing business in the State may: round the price for a good or service in the following manner: if the price ends in 1 cent, 2 cents, 6 cents, or 7 cents, by rounding the price down to the nearest cent divisible by five; or if the price ends in 3 cents, 4 cents, 8 cents, or 9 cents, by rounding the price up to the nearest cent divisible by five; or round the amount of change due to a customer up or down consistent with item (1) of this subsection.

This section applies to the portion of the price of an in–person transaction or a telephone, mail, or Internet transaction for which a customer pays using cash if the price totals less than 5 cents. Notwithstanding any other provision of law, a merchant doing business in the State may round the price for a good or service by rounding the price up to 5 cents.

This subtitle supersedes any regulation, rule, or ordinance that conflicts with this subtitle.

The Secretary may adopt regulations to carry out the provisions of this subtitle.