House Bill 2299
115th Congress(2017-2018)
Currency Optimization, Innovation, and National Savings Act of 2017
Introduced
Introduced in House on May 2, 2017
Origin Chamber
House
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
2299
Congress
115
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 House votes have been held for this bill.
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.
May 2, 2017
05/02/2017
Referred to the House Committee on Financial Services.
05/02/2017
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:36:51 PM