Home > Legislation > 115th Congress > H.R.2299

H.R.2299 - Currency Optimization, Innovation, and National Savings Act of 2017115th Congress (2017-2018) |

Bill

Hide Overview
Sponsor: Rep. Tenney, Claudia [R-NY-22] (Introduced 05/02/2017)
Committees: House - Financial Services
Latest Action: House - 05/02/2017 Referred to the House Committee on Financial Services.  (All Actions)

Tracker:

This bill has the status Introduced

Here are the steps for Status of Legislation:

  1. Introduced
  2. Passed House
  3. Passed Senate
  4. To President
  5. Became Law

More on This Bill

  • Constitutional Authority Statement
  • CBO Cost Estimates [0]

Subject — Policy Area:

Summary: H.R.2299 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for H.R.2299. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (05/02/2017)

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.