H.R.4036 - Cents and Sensibility Act110th Congress (2007-2008)
|Sponsor:||Rep. Roskam, Peter J. [R-IL-6] (Introduced 10/31/2007)|
|Committees:||House - Financial Services|
|Latest Action:||House - 03/25/2008 Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology. (All Actions)|
This bill has the status Introduced
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Summary: H.R.4036 — 110th Congress (2007-2008)All Information (Except Text)
Introduced in House (10/31/2007)
Cents and Sensibility Act - Revises the discretionary authority of the Secretary of the Treasury to prescribe the weight and the composition of the alloy of the one-cent coin.
Requires that the one-cent coin be: (1) produced primarily of steel; and (2) treated to impart a copper color to its appearance so that the appearance is similar to one-cent coins produced of a copper-zinc alloy.
Exempts from such requirement certain Lincoln Bicentennial numismatic pennies.
Requires the Secretary of the Treasury to report to certain congressional committees on a unified plan to change the metallic content of the five-cent, ten-cent, quarter-dollar and half-dollar circulating coins so as to return the ratios between the unit cost to produce such coins and their face value to a point where it is as close as possible to the historic production-cost-to-face-value ratios achieved in the 1980s.