Like Countable?

Install the App
TRY NOW

bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      House Committee on Financial Services
    IntroducedOctober 22nd, 2013

Bill Details

Official information provided by the Congressional Research Service. Learn more or make a suggestion.
The Congressional Research Service writes summaries for most legislation. These summaries are listed here. Countable will update some legislation with a revised summary, title or other key elements.

Suggest an update to this bill using our form.

Title

Currency Optimization, Innovation, and National Savings Act

Official Title

To improve the circulation of $1 coins, to remove barriers to the circulation of such coins, and for other purposes.

Summary

Currency Optimization, Innovation, and National Savings Act - Requires the Board of Governors of the Federal Reserve System (Federal Reserve Board) to sequester all $1 coins bearing the design common to those $1 coins minted and issued from 1979-1981 and again in 1999. Allows the release of such sequestered coins to collectible coin dealers and countries that have adopted the U.S. dollar as their base unit of exchange. Directs the Federal Reserve Board to: (1) undertake efforts to improve, and remove barriers to, the circulation of all other $1 coins; and (2) work with the U.S. Mint, consumer groups, media outlets, and schools to publicize the Presidential $1 Coin Program. Requires the Federal Reserve Board to report to Congress on the Board's efforts to improve the circulation of, and remove barriers to, the circulation of $1 coins bearing Native American designs. Declares it is U.S. policy that after consumers and retailers are comfortable using and able to obtain adequate supplies of $1 coins, such $1 coins should replace $1 Federal Reserve notes as the only $1 monetary unit issued and circulated by the Federal Reserve System.