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HR 2299 115th Congress House Finance and Financial Sector Congressional oversight Currency Government studies and investigations

Currency Optimization, Innovation, and National Savings Act of 2017

Introduced: May 2, 2017 Introduced by: Tenney, Claudia Republican · New York See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 2, 2017
Referred to the House Committee on Financial Services.
May 2, 2017
Introduced in House
 Plain-English summary Congressional Research Service

Currency Optimization, Innovation, and National Savings Act of 2017

This bill directs the Government Accountability Office to study the production cost of the one-cent coin and ways the production cost could be lowered while maintaining the utility of the coin.

The bill provides for the replacement of $1 notes with $1 coins as the only $1 monetary unit in circulation. Treasury will no longer be authorized to issue $1 notes two years after passage of this bill and the Board of Governors of the Federal Reserve System shall ensure that all $1 Federal Reserve notes are destroyed within this time.

Notwithstanding this bill, $1 Federal Reserve notes shall remain legal tender in the United States.

What's happening now May 2, 2017

Referred to the House Committee on Financial Services.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Democratic 2 Republican 2