Currency Optimization, Innovation, and National Savings Act of 2017
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (May 2, 2017)
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.
What just happenedMay 2, 2017
Referred to the House Committee on Financial Services.
Who’s behind it
- Introduced in HouseMay 2, 2017
- May 2, 2017IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - May 2, 2017IntroReferralIntro-H
Introduced in House
- May 2, 2017IntroReferral1000
Introduced in House