A bill to amend title 31, United States Code, to save Federal funds by authorizing changes to the composition of circulating coins, and for other purposes.
About This Bill
Committee
Latest Action · June 18, 2020
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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 midification and provide a justification for the modification.
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