H.R.1174 - United States Efficient Currency Act of 1997105th Congress (1997-1998)
|Sponsor:||Rep. Kolbe, Jim [R-AZ-5] (Introduced 03/20/1997)|
|Committees:||House - Banking and Financial Services|
|Latest Action:||04/14/1997 Referred to the Subcommittee on Domestic and International Monetary Policy.|
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Subject — Policy Area:
- Economics and Public Finance
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Summary: H.R.1174 — 105th Congress (1997-1998)All Bill Information (Except Text)
Introduced in House (03/20/1997)
United States Efficient Currency Act of 1997 - Amends Federal currency law to prescribe the color and content of one-dollar coins.
Instructs the Secretary of the Treasury to: (1) place certain authorized one-dollar coins into circulation before the government's current inventory of one-dollar coins bearing the likeness of Susan B. Anthony is depleted; and (2) increase capacity at U.S. Mint facilities to a level that permits replacement of one-dollar Federal reserve notes.
Prohibits a Federal reserve bank from placing into circulation any one-dollar Federal Reserve note after specified deadlines. Directs the Secretary of the Treasury to cease regular production of one-dollar Federal Reserve notes (except for such quantities ordered by the Board of Governors of the Federal Reserve to meet collectors' needs).