Currency Optimization, Innovation, and National Savings Act of 2017
Latest action · May 2, 2017 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.
- IntroducedMay 2, 2017
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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.
Cosponsors 10
Members who signed on, in the order they did. Signatures ran from May 2, 2017 to Feb 26, 2018, with 2 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-PA | Robert A. Brady | Original | May 2, 2017 |
| R-NC | Walter B. Jones | Original | May 2, 2017 |
| R-AZ | Paul A. Gosar | May 23, 2017 | |
| D-NY | Paul Tonko | May 23, 2017 | |
| D-IL | Bill Foster | Jul 11, 2017 | |
| D-AZ | Kyrsten Sinema | Jul 11, 2017 | |
| R-FL | Carlos Curbelo | Jul 26, 2017 | |
| R-CA | Duncan Hunter | Jul 26, 2017 | |
| R-IL | Mike Bost | Jul 27, 2017 | |
| D-CO | Jared Polis | Feb 26, 2018 |
Actions 2
Everything that happened, newest first.
- May 2, 2017Introduced in House
- May 2, 2017Referred 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 |
|---|---|---|---|
| S 759 | Currency Optimization, Innovation, and National Savings Act of 2017 | Related bill | Mar 29, 2017 |
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- May 2, 2017Introduced 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.