Currency Optimization, Innovation, and National Savings Act
Latest action · Oct 22, 2013 Referred to the House Committee on Financial Services.
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 22, 2013
- Passed HouseNot reached
- Passed SenateNot 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.
Requires the Federal Reserve Board to report to Congress on the Board's efforts to improve the circulation of, and remove barriers to, the circulation of $1 coins bearing Native American designs.
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 16
Members who signed on, in the order they did. Signatures ran from Oct 22, 2013 to Nov 12, 2014; 8 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NY | Gregory W. Meeks | Original | Oct 22, 2013 |
| D-FL | Joe Garcia | Original | Oct 22, 2013 |
| R-OH | Patrick J. Tiberi | Original | Oct 22, 2013 |
| D-NY | Paul Tonko | Original | Oct 22, 2013 |
| D-PA | Robert A. Brady | Original | Oct 22, 2013 |
| R-AZ | Trent Franks | Original | Oct 22, 2013 |
| R-NC | Walter B. Jones | Original | Oct 22, 2013 |
| D-IL | William L. Enyart | Original | Oct 22, 2013 |
| R-CA | Ken Calvert | Oct 30, 2013 | |
| D-NY | Louise McIntosh Slaughter | Nov 20, 2013 | |
| R-AZ | Paul A. Gosar | Nov 20, 2013 | |
| R-AZ | Matt Salmon | Feb 27, 2014 | |
| R-NY | Richard L. Hanna | Mar 6, 2014 | |
| I-AZ | Kyrsten Sinema | Mar 12, 2014 | |
| R-CA | Duncan Hunter | Mar 13, 2014 | |
| D-CA | Alan S. Lowenthal | Nov 12, 2014 |
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 22, 2013 |
Actions 2
Everything that happened, newest first.
- Oct 22, 2013Introduced in House
- Oct 22, 2013Referred to the House Committee on Financial Services.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the page H6676.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 1105 | Currency Optimization, Innovation, and National Savings Act | Related bill | Jun 6, 2013 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To improve the circulation of $1 coins, to remove barriers to the circulation of such coins, and for other purposes.
- Short Titles as Introduced
- Currency Optimization, Innovation, and National Savings Act
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Oct 22, 2013Introduced 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.
