S.759 - Currency Optimization, Innovation, and National Savings Act of 2017115th Congress (2017-2018)
|Sponsor:||Sen. McCain, John [R-AZ] (Introduced 03/29/2017)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 03/29/2017 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
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Summary: S.759 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in Senate (03/29/2017)
Currency Optimization, Innovation, and National Savings Act of 2017
This bill suspends the production of one-cent coins, other than collectible coins, for a 10-year period. The Government Accountability Office shall study the effect of this temporary suspension and report on whether production should remain suspended.
In addition, the bill provides for: (1) modifications to the composition of the five-cent coin; and (2) the replacement, in circulation, of $1 notes with $1 coins.