Currency Optimization, Innovation, and National Savings Act
Latest action · Jan 31, 2012 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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.
- IntroducedJan 31, 2012
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Currency Optimization, Innovation, and National Savings Act - Requires the Board of Governors of the Federal Reserve System (Federal Reserve Board) to sequester all $1 coins bearing the design common to those $1 coins minted and issued from 1979-1981 and again in 1999.
Allows the release of such sequestered coins to collectible coin dealers and countries that have adopted the U.S. dollar as their base unit of exchange.
Directs the Federal Reserve Board to: (1) undertake efforts to improve, and remove barriers to, the circulation of all other $1 coins; and (2) work with the U.S. Mint, consumer groups, media outlets, and schools to publicize the Presidential $1 Coin Program.
Declares it is U.S. policy that after consumers and retailers are comfortable using and able to obtain adequate supplies of $1 coins, such $1 coins should replace $1 Federal Reserve notes as the only $1 monetary unit issued and circulated by the Federal Reserve System.
Cosponsors 4
Members who signed on, in the order they did. Signatures ran from Jan 31, 2012 to Nov 30, 2012, with 3 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-AZ | John McCain | Original | Jan 31, 2012 |
| R-WY | Michael B. Enzi | Original | Jan 31, 2012 |
| R-OK | Tom Coburn | Original | Jan 31, 2012 |
| D-CO | Mark Udall | Nov 30, 2012 |
Actions 2
Everything that happened, newest first.
- Jan 31, 2012Introduced in Senate
- Jan 31, 2012Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 2977 | Currency Optimization, Innovation, and National Savings Act | Related bill | Oct 4, 2011 |
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Jan 31, 2012Introduced in Senate
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.
