US Congress House Bill 2977 (Prior Session Legislation)

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Sponsorship: Bipartisan Bill
Status: Introduced on September 20 2011 - 25% progression, died in committee
Action: 2011-10-04 - Referred to the Subcommittee on Domestic Monetary Policy and Technology.
Pending: House Subcommittee on Domestic Monetary Policy and Technology Committee
Text: Latest bill text (Introduced) [PDF]

Currency Optimization, Innovation, and National Savings Act - Requires the Board of Governors of the Federal Reserve System (Federal Reserve Board) to sequester all $1 coins bearing the design common to those $1 coins minted and issued from 1979-1981 and again in 1999. Allows the release of such sequestered coins to collectible coin dealers and countries that have adopted the U.S. dollar as their base unit of exchange. Directs the Federal Reserve Board to: (1) undertake efforts to improve, and remove barriers to, the circulation of the all other $1 coins; and (2) work with the U.S. Mint, consumer groups, media outlets, and schools to publicize the Presidential $1 Coin Program. Declares it U.S. policy that after consumers and retailers are comfortable using and able to obtain adequate supplies of $1 coins, such $1 coins should replace $1 Federal Reserve notes as the only $1 monetary unit issued and circulated by the Federal Reserve System.

Currency Optimization, Innovation, and National Savings Act

Rep. David Schweikert [R-AZ]	Rep. Leonard Boswell [D-IA]	Rep. Robert Brady [D-PA]	Rep. Bruce Braley [D-IA]
Rep. Ken Calvert [R-CA]	Rep. Trent Franks [R-AZ]	Rep. Jeb Hensarling [R-TX]	Rep. Walter Jones [R-NC]
Rep. David Loebsack [D-IA]	Rep. Blaine Luetkemeyer [R-MO]	Rep. Thaddeus McCotter [R-MI]	Rep. Gregory Meeks [D-NY]
Rep. James Renacci [R-OH]	Rep. Patrick Tiberi [R-OH]	Rep. Paul Tonko [D-NY]

Date	Chamber	Action
2011-10-04	House	Referred to the Subcommittee on Domestic Monetary Policy and Technology.
2011-09-20	House	Referred to the House Committee on Financial Services.

SB2049 (Related) 2012-01-31 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/house-bill/2977/all-info
Text	https://www.congress.gov/112/bills/hr2977/BILLS-112hr2977ih.pdf