(3) 
IMPROVEMENT
OF
CIRCULATION.—The 
Board of Governors of the Federal Reserve System 
shall— 
(A) undertake efforts to improve the cir-
culation and remove barriers to the circulation 
of the $1 coin, other than those coins described 
under paragraph (1)(A); 
(B) issue a quarterly report to the Com-
mittee on Financial Services of the House of 
Representatives and the Committee on Bank-
ing, Housing, and Urban Affairs of the Senate 
on— 
(i) what efforts have been made to im-
prove the circulation of $1 coins and what 
efforts are being planned to improve the 
circulation of $1 coins; 
(ii) the success of such efforts, includ-
ing an analysis of such coins held in stor-
age owned or controlled by the Federal Re-
serve System and the number of such coins 
in circulation; 
(iii) barriers to the circulation of such 
coins, including the availability of such 
coins in quantities unmixed with the $1 
coins described in paragraph (1)(A); and 
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(iv) the extent to which the Federal 
Reserve System and any agents of the 
Federal Reserve System are unable to 
meet end-user requests for delivery of 
unmixed quantities of such coins in what-
ever form such end user requires, including 
rolls, disposable tubes, or volume bags of 
such coins. 
(4) OUTREACH AND EDUCATION.—The Board 
of Governors of the Federal Reserve System shall 
continuously conduct outreach and education pro-
grams aimed at helping each business using or ac-
cepting cash to choose the best mix of $1 coins and 
banknotes to facilitate transactions and reduce costs 
of transactions and of ‘‘cashing out’’ at the end of 
a transaction period. 
(5) USE
OF
$1
COINS
BY
FOREIGN
COUN-
TRIES.—The Board of Governors of the Federal Re-
serve System shall work with the Departments of 
State and the Treasury to ensure that countries that 
have adopted the dollar as a base unit of exchange 
and which place orders with the Federal Reserve 
System, or through any United States financial in-
stitution, for supplies of $1 monetary units, are fully 
briefed before placing each such order on the dura-
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bility and longevity of $1 coins in high-circulation 
economies when used for transactions of a low dollar 
value. 
(b) PUBLICITY REQUIREMENT.—Section 5112(p)(2) 
of title 31, United States Code, is amended by inserting 
after ‘‘Mint’’ the following: ‘‘and the Board of Governors 
of the Federal Reserve System’’. 
(c) REPORT ON IMPLEMENTATION.—Not later than 
the end of the 1-year period beginning on the date of the 
enactment of this Act, and annually thereafter, the Comp-
troller General of the United States and the Inspector 
General of the Federal Reserve System and the Bureau 
of Consumer Financial Protection shall each issue a report 
to the Committee on Financial Services of the House of 
Representatives and the Committee on Banking, Housing, 
and Urban Affairs of the Senate on steps being taken by 
the Board of Governors of the Federal Reserve System 
to carry out this Act. 
(d) CLARIFICATION WITH RESPECT TO SEIGNIOR-
AGE.—The ninth proviso of section 5136 of title 31, 
United States Code, is amended, by inserting after ‘‘mis-
cellaneous receipts’’ the following: ‘‘and such amount shall 
be included as an estimated receipt of the Government and 
a receipt of the Government under paragraphs (6) and (7), 
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respectively, of section 1105(a) in any budget submitted 
under such section’’. 
(e) POLICY STATEMENT.—It is the policy of the 
United States that after $1 coins achieve sufficient market 
penetration such that consumers and retailers are com-
fortable using $1 coins and are able to obtain adequate 
supplies of $1 coins, $1 coins should replace $1 Federal 
Reserve notes as the only $1 monetary unit issued and 
circulated by the Federal Reserve System. 
(f) DEADLINE FOR PLACING $1 FEDERAL RESERVE 
NOTES INTO CIRCULATION.—Federal Reserve banks may 
continue to place into circulation $1 Federal Reserve notes 
until the earlier of— 
(1) the date on which the number of $1 coins 
placed into circulation after the date of the enact-
ment of this Act exceeds 600,000,000 annually; or 
(2) the date that is 4 years after the date of the 
enactment of this Act. 
(g) TRANSITION PERIOD.—After the date referred to 
in subsection (f), a Federal Reserve bank may not order 
additional $1 Federal Reserve notes but may, for a period 
of one year, continue to place into circulation $1 Federal 
Reserve notes on hand or those deposited with it, except 
for notes described in subsection (h). 
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(h) REMOVAL OF UNFIT CURRENCY.—After the date 
referred to in subparagraph (f), a Federal Reserve bank 
shall continue to remove unfit currency from circulation, 
and shall continue to destroy such currency. 
(i) EXCEPTION.—Notwithstanding subsections (f) 
and (g), the Board of Governors of the Federal Reserve 
System shall produce such Federal Reserve notes of $1 
denomination as the Board determines from time to time 
are appropriate solely to meet the needs of collectors of 
that denomination. Such notes shall be issued by one or 
more Federal Reserve banks in accordance with section 
16 of the Federal Reserve Act and sold by the Board, in 
whole or in part, under procedures prescribed by the 
Board. 
(j) NO EFFECT
ON LEGAL TENDER.—Notwith-
standing any other subsection of this section, $1 Federal 
Reserve notes are legal tender in the United States for 
all debts, public and private, public charges, taxes, and 
duties, regardless of the date of printing or issue. 
SEC. 206. ENHANCING THE INTERNAL REVENUE SERVICE’S 
ONLINE SERVICES. 
No later than six months after the date of the enact-
ment of the Act, the Commissioner of Internal Revenue 
shall, pursuant to the recommendations of the Govern-
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ment Accountability Office in its report GAO–14–343SP 
(April, 2014): 
(1) Develop a long-term strategy to improve 
web services provided to taxpayers, in accordance 
with www.Howto.gov and other Federal guidance 
outlined in the April 2013 report of the Government 
Accountability Office GAO–13–279SP. 
(2) Study leading practices of other organiza-
tions to understand how web improvement strategies 
were developed and new services prioritized. 
(3) Develop business cases for all new online 
services, describing the potential benefits and costs 
of the project, and use them to prioritize future 
projects. 
(4) Review risk mitigation plans for interactive 
tools to ensure all risks are addressed and link in-
vestments in security to the long-term plan. 
SEC. 207. IMPROVING FORECLOSURE LOSS MITIGATION EF-
FORTS FOR MORTGAGES MADE, INSURED, OR 
GUARANTEED BY FEDERAL AGENCIES. 
(a) PERIODIC ANALYSIS OF LOSS MITIGATION AC-
TIONS.—Not later than the expiration of the 6-month pe-
riod beginning on the date of the enactment of this Act 
and annually thereafter, the Secretary of Housing and 
Urban Development, the Secretary of Agriculture, and the 
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Secretary of Veterans Affairs shall each analyze the effec-
tiveness and long-term costs and benefits of the programs, 
actions, and strategies of the applicable agency for avoid-
ance or mitigation of foreclosure losses with respect to cov-
ered loans and mortgages of the applicable agency, which 
shall include analyses of— 
(1) the re-default rates associated with various 
types of loss mitigation actions; and 
(2) the impacts that loan and borrower charac-
teristics have on the performance of different loss 
mitigation actions. 
(b) RE-EVALUATION.—Upon completion of each peri-
odic analysis conducted pursuant to subsection (a) with 
respect to covered loans and mortgages of an applicable 
agency, the head of the applicable agency shall use the 
results of the analysis to— 
(1) re-evaluate the programs, actions, and 
strategies of the agency for avoidance or mitigation 
of foreclosure losses with respect to covered loans 
and mortgages; and 
(2) provide additional guidance to servicers of 
covered loans and mortgages to more effectively tar-
get and implement loss mitigation efforts. 
(c) COLLECTION
OF INFORMATION.—Each of the 
agency heads referred to in subsection (a) shall— 
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(1) collect such information regarding covered 
loans and mortgages of the applicable agency as may 
be necessary to conduct the analysis required under 
such subsection, including loan level data and infor-
mation regarding loan performance; or 
(2) require servicers of such loans and mort-
gages to provide any such information not main-
tained or collected by the applicable agency. 
(d) CONSULTATION AND COORDINATION.—Each of 
the agency heads referred to in subsection (a) shall consult 
and coordinate with each other in conducting the analyses 
and re-evaluations required under subsection (a) and (b) 
to ensure the sharing of information and promote effective 
loss mitigation efforts. 
(e) DEFINITIONS.—For purposes of this section, the 
following definitions shall apply: 
(1) APPLICABLE AGENCY.—The term ‘‘applica-
ble agency’’ means— 
(A) with respect to the Secretary of Hous-
ing and Urban Development, the Department of 
Housing and Urban Development; 
(B) with respect to the Secretary of Agri-
culture, the Department of Agriculture; and 
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(C) with respect to the Secretary of Vet-
erans Affairs, the Department of Veterans Af-
fairs. 
(2) COVERED
LOANS
AND
MORTGAGES.—The 
term ‘‘covered loans and mortgages’’ means, with re-
spect to an applicable agency, loans for and mort-
gages on 1- to 4-family homes made, insured, or 
guaranteed by such applicable agency. 
Æ 
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