Senate Bill 4006
116th Congress(2019-2020)
Coin Metal Modification Authorization and Cost Savings Act of 2020
Introduced
Introduced in Senate on Jun 18, 2020
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
4006
Congress
116
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
No Senate votes have been held for this bill.
Summary
Coin Metal Modification Authorization and Cost Savings Act of 2020
This bill authorizes the United.States Mint to modify the metallic composition of circulating coins (including by prescribing reasonable manufacturing tolerances with respect to those coins) if a study and analysis conducted by the Mint indicates that the modification will
- reduce costs incurred by the taxpayers;
- be seamless, which shall be determined by verifying that the coins will work interchangeably in most coin acceptors using electromagnetic signature technology; and
- have as minimal an adverse impact as possible on the public and stakeholders.
The Mint must notify Congress before making the midification and provide a justification for the modification.
June 18, 2020
06/18/2020
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
06/18/2020
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:46:12 PM