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]
[S. 1326 Introduced in Senate (IS)]

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115th CONGRESS
  1st Session
                                S. 1326

 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 SENATE OF THE UNITED STATES

                              June 8, 2017

  Mr. Murphy introduced the following bill; which was read twice and 
    referred to the Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 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 adding 
at the end the following:
    ``(w) Redesign and Issuance of $1 Coins Honoring Innovation, 
Innovators, and Pioneers From Each State, the District of Columbia, and 
Each Territory.--
            ``(1) Definition.--In this subsection, the term `territory' 
        means--
                    ``(A) the Commonwealth of Puerto Rico;
                    ``(B) Guam;
                    ``(C) American Samoa;
                    ``(D) the United States Virgin Islands; and
                    ``(E) the Commonwealth of the Northern Mariana 
                Islands.
            ``(2) Redesign beginning in 2018.--
                    ``(A) In general.--Notwithstanding paragraphs (1) 
                and (2) of subsection (d) and in accordance with 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 (3)(A); and
                            ``(ii) have a design on the reverse 
                        selected in accordance with paragraph (3)(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 
                        only on the obverse of the coin, and such 
                        modification may be done without review by the 
                        Citizens Coinage Advisory Committee nor 
                        consultation with the Commission of Fine Arts.
            ``(3) Design requirements.--Notwithstanding paragraphs (1) 
        and (2) of subsection (d), the $1 coins issued in accordance 
        with paragraph (2)(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 1 of the 50 States, 
                        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, 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.
            ``(4) 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, 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 (2) until 1 coin featuring 1 
                        innovation, an individual innovator or pioneer, 
                        or a group of innovators or pioneers, from each 
                        of the States, 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 (2).
                            ``(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 (2), the Secretary of the 
                        Treasury may issue $1 coins, in accordance with 
                        this subsection during any 1 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 clause (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.
            ``(5) Selection of concept and design.--
                    ``(A) Concept.--With respect to each State, the 
                District of Columbia, and 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, 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, 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.
            ``(6) 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.
            ``(7) 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.
            ``(8) Termination of program.--The issuance of coins under 
        this subsection shall terminate when 1 innovation, an 
        individual innovator or pioneer, or a group of innovators or 
        pioneers, from each State, the District of Columbia, and 
        territory has been honored and may not be resumed except by an 
        Act of Congress.''.
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