S.428 - A bill to modernize United States circulating coin designs, of which one reverse will have a theme of the Bicentennial of the Constitution.101st Congress (1989-1990)
|Sponsor:||Sen. Wallop, Malcolm [R-WY] (Introduced 02/22/1989)|
|Committees:||Senate - Banking, Housing, and Urban Affairs | House - Banking, Finance, and Urban Affrs|
|Latest Action:||07/01/1989 Referred to the Subcommittee on Consumer Affairs and Coinage. (All Actions)|
This bill has the status Passed Senate
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Summary: S.428 — 101st Congress (1989-1990)All Bill Information (Except Text)
Introduced in Senate (02/22/1989)
Requires U.S. coins to be redesigned, at the discretion of the Secretary of the Treasury, over the next six years. Requires the reverse side of the first coin redesigned to commemorate the bicentennial of the U.S. Constitution for a two-year period.
Provides that the design on the obverse side of U.S. coins shall contain the likenesses of those displayed on current coins and shall be considered for redesign. Requires any such obverse redesigns to conform to the inscription requirements of current law.
Requires the Secretary, in selecting new designs, to consider specified constitutional concepts. Requires the designs to be selected by the Secretary upon consultation with the United States Commission of Fine Arts.
Requires that any profits from the sale of uncirculated and proof sets of U.S. coins be deposited in the Treasury and used solely to reduce the national debt.