I 
115TH CONGRESS 
1ST SESSION H. R. 2299 
To save taxpayers money by improving the manufacturing and distribution 
of coins and notes, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 2, 2017 
Ms. TENNEY (for herself, Mr. BRADY of Pennsylvania, and Mr. JONES) intro-
duced the following bill; which was referred to the Committee on Finan-
cial Services 
A BILL 
To save taxpayers money by improving the manufacturing 
and distribution of coins and notes, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Currency Optimiza-
tion, Innovation, and National Savings Act of 2017’’. 
SEC. 2. GAO STUDY ON THE PRODUCTION OF THE PENNY. 
(a) STUDY.—The Comptroller General of the United 
States shall carry out a study on the production cost of 
the one-cent coin and ways the production cost could be 
lowered while maintaining the utility of the one-cent coin. 
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(b) REPORT.—Not later than 180 days after the date 
of enactment of this Act, the Comptroller General shall 
issue a report to the Committee on the Budget and the 
Committee on Banking, Housing, and Urban Affairs of 
the Senate and the Committee on the Budget and the 
Committee on Financial Services of the House of Rep-
resentatives containing all findings and determinations 
made in carrying out the study required under subsection 
(a). 
SEC. 3. SAVING TAXPAYERS MONEY BY REPLACING $1 
NOTES WITH $1 COINS. 
(a) IN GENERAL.—It is the policy of the United 
States that $1 coins should replace $1 Federal reserve 
notes as the only $1 monetary unit issued and circulated 
by the Board of Governors of the Federal Reserve System. 
(b) FINAL DATE FOR PLACING $1 NOTES INTO CIR-
CULATION.—Beginning on the date that is 2 years after 
the date of enactment of this Act, the Board of Governors 
of the Federal Reserve System may not issue $1 Federal 
reserve notes. 
(c) TRANSITION PERIOD.—Before the date described 
in subsection (b), the Board of Governors of the Federal 
Reserve System shall ensure adequate supplies of $1 coins 
to meet the demand of such coins on and after such date. 
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(d) REMOVAL AND DESTRUCTION OF $1 FEDERAL 
RESERVE NOTES.—The Board of Governors of the Fed-
eral Reserve System shall ensure that all $1 Federal re-
serve notes removed from circulation in accordance with 
the date described in subsection (b) have been destroyed. 
(e) EXCEPTION.—Notwithstanding subsections (b) 
and (c), the Board of Governors of the Federal Reserve 
System shall produce such Federal reserve notes of $1 de-
nomination as the Board of Governors determines from 
time to time are appropriate solely to meet the needs of 
numismatic collectors of that denomination. Such collect-
ible versions of $1 Federal reserve notes shall be sold in 
accordance with other general provisions governing collect-
ible versions of notes. 
(f) NO EFFECT
ON LEGAL TENDER.—Notwith-
standing any other provision of this section, $1 Federal 
reserve notes are legal tender in the United States for all 
debts, public and private, public charges, taxes, and du-
ties, regardless of the date of printing or issue. 
Æ 
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