Coin Modernization, Oversight, and Continuity Act of 2010

Bill: 111-hr-6162
Sponsor: Rep. Watt, Melvin L. [D-NC-12]
Introduced: 2010-09-22 in the House
Policy area: Finance and Financial Sector
Subjects: Congressional oversight
Currency
Metals
Research and development

Summary:
action_date: 2010-09-22
text: 
Coin Modernization, Oversight, and Continuity Act of 2010 - Requires the Secretary of the Treasury to report biennially to specified congressional committees on production costs for each circulating coin, cost trends, and possible new metallic materials or technologies for the production of circulating coins. Requires detailed recommendations in such reports for: (1) changes to the metallic content of circulating coins; (2) changes in coin production methodology that would further reduce the costs of production; and (3) legislative changes necessary to achieve such goals.
 
Prohibits the Secretary from including any recommendation for specifications: (1) for producing a circulating coin that would require significant change to coin-accepting and coin-handling equipment to accommodate changes to all circulating coins simultaneously; or (2) that would facilitate or allow the use of a coin with a lesser value produced, minted, or issued by another country, or the use of any token or other easily or regularly produced metal device of minimal value, in the place of a circulating coin produced by the Secretary.
 
Authorizes the Secretary, in order to complete the first biennial report and to develop, evaluate, or begin the use of new metallic materials for circulating coin production, to: (1) conduct any appropriate testing of appropriate coinage metallic materials; and (2) work with federal and nonfederal entities, including independent research facilities or suppliers of the metallic material used in volume production of circulating coins. 

action_date: 2010-09-29
text: 
Coin Modernization, Oversight, and Continuity Act of 2010 - Requires the Secretary of the Treasury to report biennially to specified congressional committees on production costs for each circulating coin, cost trends, and possible new metallic materials or technologies for the production of circulating coins. Requires detailed recommendations in such reports for: (1) changes to the metallic content of circulating coins; (2) changes in coin production methodology that would further reduce the costs of production; and (3) legislative changes necessary to achieve such goals.
 
Prohibits the Secretary from including any recommendation for specifications: (1) for producing a circulating coin that would require significant change to coin-accepting and coin-handling equipment to accommodate changes to all circulating coins simultaneously; or (2) that would facilitate or allow the use of a coin with a lesser value produced, minted, or issued by another country, or the use of any token or other easily or regularly produced metal device of minimal value, in the place of a circulating coin produced by the Secretary.
 
Authorizes the Secretary, in order to complete the first biennial report and to develop and evaluate the use of new metallic materials for circulating coin production, to: (1) conduct any appropriate testing of appropriate coinage metallic materials; and (2) work with federal and nonfederal entities, including independent research facilities or suppliers of the metallic material used in volume production of circulating coins. 

action_date: 2010-11-30
text: 

(This measure has not been amended since it was passed by the House on September 29, 2010. The summary of that version is repeated here.)

 
Coin Modernization, Oversight, and Continuity Act of 2010 - Requires the Secretary of the Treasury to report biennially to specified congressional committees on production costs for each circulating coin, cost trends, and possible new metallic materials or technologies for the production of circulating coins. Requires detailed recommendations in such reports for: (1) changes to the metallic content of circulating coins; (2) changes in coin production methodology that would further reduce the costs of production; and (3) legislative changes necessary to achieve such goals.
 
Prohibits the Secretary from including any recommendation for specifications: (1) for producing a circulating coin that would require significant change to coin-accepting and coin-handling equipment to accommodate changes to all circulating coins simultaneously; or (2) that would facilitate or allow the use of a coin with a lesser value produced, minted, or issued by another country, or the use of any token or other easily or regularly produced metal device of minimal value, in the place of a circulating coin produced by the Secretary.
 
Authorizes the Secretary, in order to complete the first biennial report and to develop and evaluate the use of new metallic materials for circulating coin production, to: (1) conduct any appropriate testing of appropriate coinage metallic materials; and (2) work with federal and nonfederal entities, including independent research facilities or suppliers of the metallic material used in volume production of circulating coins. 

action_date: 2010-12-14
text: 

(This measure has not been amended since it was passed by the House on September 29, 2010. The summary of that version is repeated here.)

 
Coin Modernization, Oversight, and Continuity Act of 2010 - Requires the Secretary of the Treasury to report biennially to specified congressional committees on production costs for each circulating coin, cost trends, and possible new metallic materials or technologies for the production of circulating coins. Requires detailed recommendations in such reports for: (1) changes to the metallic content of circulating coins; (2) changes in coin production methodology that would further reduce the costs of production; and (3) legislative changes necessary to achieve such goals.
 
Prohibits the Secretary from including any recommendation for specifications: (1) for producing a circulating coin that would require significant change to coin-accepting and coin-handling equipment to accommodate changes to all circulating coins simultaneously; or (2) that would facilitate or allow the use of a coin with a lesser value produced, minted, or issued by another country, or the use of any token or other easily or regularly produced metal device of minimal value, in the place of a circulating coin produced by the Secretary.
 
Authorizes the Secretary, in order to complete the first biennial report and to develop and evaluate the use of new metallic materials for circulating coin production, to: (1) conduct any appropriate testing of appropriate coinage metallic materials; and (2) work with federal and nonfederal entities, including independent research facilities or suppliers of the metallic material used in volume production of circulating coins. 


Legislative actions:
action_date: 2010-12-14
text: Became Public Law No: 111-302.
action_date: 2010-12-14
text: Became Public Law No: 111-302.
action_date: 2010-12-14
text: Signed by President.
action_date: 2010-12-14
text: Signed by President.
action_date: 2010-12-03
text: Presented to President.
action_date: 2010-12-03
text: Presented to President.
action_date: 2010-12-01
text: Message on Senate action sent to the House.
action_date: 2010-11-30
text: Cleared for White House.
action_date: 2010-11-30
text: Passed Senate without amendment by Unanimous Consent.
action_date: 2010-11-30
text: Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.
action_date: 2010-11-30
text: Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent. (consideration: CR S8292)
action_date: 2010-11-30
text: Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.(consideration: CR S8292)
action_date: 2010-09-29
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2010-09-29
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2010-09-29
text: On passage Passed without objection.
action_date: 2010-09-29
text: Passed/agreed to in House: On passage Passed without objection.
action_date: 2010-09-29
text: Considered by unanimous consent. (consideration: CR H7312-7313; text of measure as introduced: CR H7312)
action_date: 2010-09-29
text: Committee on Financial Services discharged.
action_date: 2010-09-29
text: Committee on Financial Services discharged.
action_date: 2010-09-29
text: Mr. Watt asked unanimous consent to discharge from committee and consider.
action_date: 2010-09-22
text: Referred to the House Committee on Financial Services.
action_date: 2010-09-22
text: Introduced in House
action_date: 2010-09-22
text: Introduced in House

Enacted as: number: 111-302