Bill
Bill > S759
summary
Introduced
03/29/2017
03/29/2017
In Committee
03/29/2017
03/29/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
Currency Optimization, Innovation, and National Savings Act of 2017 This bill suspends the production of one-cent coins, other than collectible coins, for a 10-year period. The Government Accountability Office shall study the effect of this temporary suspension and report on whether production should remain suspended. In addition, the bill provides for: (1) modifications to the composition of the five-cent coin; and (2) the replacement, in circulation, of $1 notes with $1 coins.
AI Summary
This bill suspends the production of one-cent coins (except for collectible coins) for a 10-year period, directs the U.S. Mint to modify the composition of the five-cent coin to reduce costs, and requires the replacement of $1 Federal Reserve notes with $1 coins as the only $1 monetary unit in circulation. The Government Accountability Office will study the effects of the one-cent coin suspension and report on whether production should remain suspended. The bill aims to save taxpayer money through these changes to the production and distribution of coins and notes.
Committee Categories
Housing and Urban Affairs
Sponsors (2)
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 03/29/2017)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/115th-congress/senate-bill/759/all-info |
| BillText | https://www.congress.gov/115/bills/s759/BILLS-115s759is.pdf |
| Bill | https://www.congress.gov/115/bills/s759/BILLS-115s759is.pdf.pdf |
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