Currency Optimization, Innovation, and National Savings Act
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HR 2977 — Currency Optimization, Innovation, and National Savings Act
Last action — Referred to the Subcommittee on Domestic Monetary Policy and Technology.
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✓Introduced
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✓In Committee
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Died in session
This bill died with 112th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.
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 the 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. Declares it 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.
Bill Text
We don't have the full text on file for this bill yet.
Read HR 2977 on the official United States source →Action History
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Referred to the Subcommittee on Domestic Monetary Policy and Technology.
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Referred to the House Committee on Financial Services.
Sponsors
- David Schweikert · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 546 not signed on
Sponsors (1)
Co-sponsors (0)
None.
Not signed on (546)
546 members have not signed on to this bill.
Show all 546 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Subjects
Frequently asked questions
- What does HR 2977 do?
- 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 the 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. Declares it 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.
- Who sponsors HR 2977?
- HR 2977 is sponsored by David Schweikert (R).
- What is the current status of HR 2977?
- This bill died with 112th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
- Where can I track HR 2977?
- Track HR 2977 free on One Click Politics — get push/email alerts when it moves.
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