Title: American Innovation $1 Coin Act
Policy area: Finance and Financial Sector

Summary:
American Innovation $1 Coin Act
This bill directs the Department of the Treasury to mint and issue "American Innovation" $1 coins commemorating an innovation, an individual innovator or pioneer, or a group of innovators or pioneers from each state, each U.S. territory, and the District of Columbia. Treasury shall issue four coins per year, in alphabetical order by jurisdiction, until a coin has been issued for each jurisdiction.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 770 Introduced in House (IH)]

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115th CONGRESS
  1st Session
                                H. R. 770

 To require the Secretary of the Treasury to mint coins in recognition 
   of American innovation and significant innovation and pioneering 
   efforts of individuals or groups from each of the 50 States, the 
District of Columbia, and the United States territories, to promote the 
    importance of innovation in the United States, the District of 
  Columbia, and the United States territories, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 31, 2017

 Mr. Himes (for himself, Mr. Posey, Mr. King of New York, Mr. Cooper, 
     Mr. Joyce of Ohio, Mr. Fleischmann, and Mr. Roe of Tennessee) 
 introduced the following bill; which was referred to the Committee on 
                           Financial Services

_______________________________________________________________________

                                 A BILL


 
 To require the Secretary of the Treasury to mint coins in recognition 
   of American innovation and significant innovation and pioneering 
   efforts of individuals or groups from each of the 50 States, the 
District of Columbia, and the United States territories, to promote the 
    importance of innovation in the United States, the District of 
  Columbia, and the United States territories, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``American Innovation $1 Coin Act''.

SEC. 2. AMERICAN INNOVATION $1 COIN PROGRAM.

    Section 5112 of title 31, United States Code, is amended by 
inserting after subsection (v) the following new subsection:
    ``(w) Redesign and Issuance of $1 Coins Honoring Innovation, 
Innovators, and Pioneers From Each State, the District of Columbia, and 
Each Territory.--
            ``(1) Redesign beginning in 2018.--
                    ``(A) In general.--Notwithstanding subsection 
                (d)(1) and subsection (d)(2) and in accordance with the 
                provisions of this subsection, during the 14-year 
                period beginning on January 1, 2018 (or such later date 
                as provided under subparagraph (B)(ii)), the Secretary 
                of the Treasury shall mint and issue $1 coins to be 
                known as `American Innovation $1 coins', that--
                            ``(i) have designs on the obverse selected 
                        in accordance with paragraph (2)(A); and
                            ``(ii) have a design on the reverse 
                        selected in accordance with paragraph (2)(B).
                    ``(B) Continuity provisions.--
                            ``(i) In general.--Notwithstanding 
                        subparagraph (A), the Secretary shall continue 
                        to mint and issue $1 coins honoring Native 
                        Americans and their contributions in accordance 
                        with subsection (r).
                            ``(ii) First year.--Notwithstanding 
                        subparagraph (A), if the Secretary finds that 
                        it is not feasible and cost-effective to mint 
                        and issue American Innovation $1 coins 
                        beginning in 2018, the Secretary may mint and 
                        issue $1 coins bearing the designs of such 
                        Presidential $1 coins issued pursuant to 
                        subsection (n) that the Secretary determines to 
                        be appropriate. If any such Presidential $1 
                        coin design bore the inscription `In God We 
                        Trust' incused on the edge, the Secretary shall 
                        modify the design to place that inscription on 
                        the coin's obverse only, and such modification 
                        may be done without review by the Citizens 
                        Coinage Advisory Committee nor consultation 
                        with the Commission of Fine Arts.
                    ``(C) Definition of territory.--For purposes of 
                this subsection, the term `territory' means the 
                Commonwealth of Puerto Rico, Guam, American Samoa, the 
                United States Virgin Islands, and the Commonwealth of 
                the Northern Mariana Islands.
            ``(2) Design requirements.--Notwithstanding subsection 
        (d)(1) and subsection (d)(2), the $1 coins issued in accordance 
        with paragraph (1)(A) shall meet the following design 
        requirements:
                    ``(A) Coin obverse.--The design on the obverse of 
                each coin issued under this subsection shall contain--
                            ``(i) a design symbolic of Liberty; and
                            ``(ii) the inscription `In God We Trust'.
                    ``(B) Coin reverse.--The design on the reverse of 
                each coin issued under this subsection shall bear the 
                following:
                            ``(i) An image or images emblematic of one 
                        of the following from one of the 50 States, the 
                        District of Columbia, or the territories of the 
                        United States:
                                    ``(I) A significant innovation.
                                    ``(II) An innovator or pioneer.
                                    ``(III) A group of innovators or 
                                pioneers.
                            ``(ii) The name of the State, the District 
                        of Columbia, or territory, as applicable.
                            ``(iii) The inscriptions `$1' and `United 
                        States of America'.
                    ``(C) Edge-incused inscriptions.--
                            ``(i) In general.--The inscription of the 
                        year of minting or issuance of the coin and the 
                        inscription `E Pluribus Unum' shall be edge-
                        incused into the coin.
                            ``(ii) Preservation of distinctive edge.--
                        The edge-incusing of the inscriptions under 
                        clause (i) on coins issued under this 
                        subsection shall be done in a manner that 
                        preserves the distinctive edge of the coin so 
                        that the denomination of the coin is readily 
                        discernible, including by individuals who are 
                        blind or visually impaired.
            ``(3) Issuance of coins commemorating innovation, 
        innovators, and pioneers.--
                    ``(A) Order of issuance.--The coins issued under 
                this subsection commemorating either an innovation, an 
                individual innovator or pioneer, or a group of 
                innovators or pioneers, from each State, the District 
                of Columbia, or a territory shall be issued in 
                alphabetic order of the State, the District, or 
                territory represented, starting with Alabama.
                    ``(B) Issuance of coins commemorating four 
                innovations, innovators, and pioneers during each of 14 
                years.--
                            ``(i) In general.--Four $1 coin designs as 
                        described in this subsection shall be issued 
                        during each year of the period referred to in 
                        paragraph (1) until one coin featuring one 
                        innovation, an individual innovator or pioneer, 
                        or a group of innovators or pioneers, from each 
                        of the States, the District of Columbia, and 
                        territories has been issued.
                            ``(ii) Number of coin designs in each 
                        year.--The Secretary shall prescribe, on the 
                        basis of such factors as the Secretary 
                        determines to be appropriate, the number of $1 
                        coins that shall be issued with each of the 
                        designs selected for each year of the period 
                        referred to in paragraph (1).
                            ``(iii) Application in event of the 
                        admission of additional states.--
                        Notwithstanding clause (i), if any additional 
                        State or territory is admitted into the Union 
                        before the end of the 14-year period referred 
                        to in paragraph (1), the Secretary of the 
                        Treasury may issue $1 coins, in accordance with 
                        this subsection during any one year of such 14-
                        year period, in addition to the four $1 coins 
                        issued during such year in accordance with 
                        clause (i).
                            ``(iv) Application in the event of 
                        independence.--Notwithstanding paragraph 
                        (3)(B)(i), if any State or territory becomes 
                        independent or otherwise ceases to be a State 
                        or territory of the United States before $1 
                        coins are minted pursuant to this subsection, 
                        the subsection shall cease to apply with 
                        respect to such State or territory.
            ``(4) Selection of concept and design.--
                    ``(A) Concept.--With respect to each State, the 
                District of Columbia, and each territory to be honored 
                with a coin under this subsection, the selection of the 
                significant innovation, innovator or pioneer, or group 
                of innovators or pioneers to be borne on the reverse of 
                such coin shall be made by the Secretary of the 
                Treasury, after consultation with the Governor or other 
                chief executive of the State, the District of Columbia, 
                or territory with respect to which a coin is to be 
                issued under this subsection.
                    ``(B) Design.--Each of the designs required under 
                this subsection shall be selected by the Secretary 
                after--
                            ``(i) consultation with--
                                    ``(I) the Governor or other chief 
                                executive of the State, the District of 
                                Columbia, or territory with respect to 
                                which a coin is to be issued under this 
                                subsection; and
                                    ``(II) the Commission of Fine Arts; 
                                and
                            ``(ii) review by the Citizens Coinage 
                        Advisory Committee.
                    ``(C) Selection and approval process.--Designs for 
                $1 coins under this subsection may be submitted in 
                accordance with the design selection and approval 
                process developed by the Secretary in the sole 
                discretion of the Secretary.
                    ``(D) Standards.--Because it is important that the 
                Nation's coinage and currency bear dignified designs of 
                which the citizens of the United States can be proud, 
                the Secretary shall not select any frivolous or 
                inappropriate design for any $1 coin minted under this 
                subsection.
                    ``(E) Prohibition on certain representations.--No 
                head and shoulders portrait or bust of any person, 
                living or dead, and no portrait of a living person may 
                be included in the design of any coin issued under this 
                subsection.
            ``(5) Treatment as numismatic items.--For purposes of 
        sections 5134 and 5136, all $1 coins minted under this 
        subsection shall be considered to be numismatic items.
            ``(6) Issuance of numismatic coins.--The Secretary may mint 
        and issue such number of $1 coins of each design selected under 
        this subsection in uncirculated and proof qualities as the 
        Secretary determines to be appropriate.
            ``(7) Termination of program.--The issuance of coins under 
        this subsection shall terminate when one innovation, an 
        individual innovator or pioneer, or a group of innovators or 
        pioneers, from each State, the District of Columbia, and each 
        territory has been honored and may not be resumed except by an 
        Act of Congress.''.
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