Coin Modernization and Taxpayer Savings Act of 2007
Latest action · Mar 25, 2008 Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedOct 24, 2007
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Coin Modernization and Taxpayer Savings Act of 2007 - Revises the discretionary authority of the Secretary of the Treasury to prescribe the weight and the composition of the alloy in the one-cent coin. Extends such authority to, and requires the Secretary to prescribe the weight and composition of, the dollar, half-dollar, quarter-dollar, dime, and five-cent coin, as well as the one-cent coin. Cites factors to be considered when prescribing such characteristics, including the effect on vending machines.
Repeals current weight requirements for the half-dollar, quarter-dollar, dime, five-cent coin, and the one-cent coin.
Specifies the characteristics of $1 coins and gold coins.
Authorizes the Secretary to prescribe manufacturing tolerances for five-cent and one-cent coins.
Repeals specified regulations promulgated by the Director of the U.S. Mint on April 16, 2007. Declares that such regulations have no force or effect after the enactment of this Act with respect to one-cent coins.
Repeals the Secretary's authority to restrict exportation, melting, or treatment of the one-cent coin during the period between enactment of this Act and the date when the Secretary first issues a one-cent coin with a different metallic content than current one-cent coins.
Cosponsors 3
Members who signed on, in the order they did. Signatures ran from Oct 24, 2007 to Oct 29, 2007; 2 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-MA | Barney Frank | Original | Oct 24, 2007 |
| D-IL | Luis V. Gutierrez | Original | Oct 24, 2007 |
| D-OH | Charles A. Wilson | Oct 29, 2007 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Oct 24, 2007 |
| Domestic Monetary Policy and Technology Subcommittee | Referred Mar 25, 2008 |
Actions 3
Everything that happened, newest first.
- Mar 25, 2008Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.
- Oct 24, 2007Introduced in House
- Oct 24, 2007Referred to the House Committee on Financial Services.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 5512 | Coin Modernization and Taxpayer Savings Act of 2008 | Related bill | May 12, 2008 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To authorize the Secretary of the Treasury to prescribe the weights and the compositions of circulating coins, and for other purposes.
- Short Titles as Introduced
- Coin Modernization and Taxpayer Savings Act of 2007
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Oct 24, 2007Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
