H.R.7995 - Coin Metal Modification Authorization and Cost Savings Act of 2020116th Congress (2019-2020)
|Sponsor:||Rep. Amodei, Mark E. [R-NV-2] (Introduced 08/11/2020)|
|Committees:||House - Financial Services | Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 12/03/2020 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
|Roll Call Votes:||There has been 1 roll call vote|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Summary: H.R.7995 — 116th Congress (2019-2020)All Information (Except Text)
Passed House (12/02/2020)
Coin Metal Modification Authorization and Cost Savings Act of 2020
This bill authorizes the United States Mint to modify the metallic composition of circulating coins (including by prescribing reasonable manufacturing tolerances with respect to those coins) if a study and analysis conducted by the Mint indicates that the modification will
- reduce costs incurred by the taxpayers;
- be seamless, which shall be determined by verifying that the coins will work interchangeably in most coin acceptors using electromagnetic signature technology; and
- have as minimal an adverse impact as possible on the public and stakeholders.
The Mint must notify Congress before making the modification and provide a justification for the modification.