S 1228
118th Congress
Senate
Finance and Financial Sector
Coin Metal Modification Authorization and Cost Savings Act of 2023
Introduced: April 20, 2023
Introduced by:
Hassan, Margaret Wood
Democratic
· New Hampshire
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 20, 2023
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Apr 20, 2023
Introduced in Senate
Plain-English summary
Coin Metal Modification Authorization and Cost Savings Act of 2023
This bill authorizes the United States Mint to modify the metallic composition of circulating coins (including by prescribing reasonable manufacturing tolerances with respect to those coins) if a study and analysis conducted by the Mint indicates that the modification will
- reduce costs incurred by the taxpayers;
- be seamless, which means that the coins must have the same weight and diameter as current coins and that the coins work interchangeably in most coin acceptors using electromagnetic signature technology; and
- have as minimal an adverse impact as possible on the public and stakeholders.
The Mint must notify Congress before making the modification and provide a justification for the modification. Congress may disapprove of any proposed modification through a joint resolution.
What's happening now
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committees of jurisdiction
1