CENTS Act

Bill: 116-s-1794
Sponsor: full_name: Sen. Ernst, Joni [R-IA]
Introduced: 2019-06-12
Policy area: Finance and Financial Sector
Subjects: Currency

Metals
Latest action: action_date: 2019-06-12
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2019-06-12
action_desc: Introduced in Senate
text: <p><b>Currency Evolution Now To Save Act or the CENTS Act </b></p> <p>This bill authorizes the Department of the Treasury to prescribe a different composition of materials in the half-dollar, quarter-dollar, dime, or five-cent coin if such action reduces the overall cost of minting the coin and&nbsp;does not affect (1) the diameter and weight of the coin; or (2) the functionality of the coin, including the electromagnetic signature for accepting it. </p>

tv_txt: II 116th CONGRESS 1st Session S. 1794 IN THE SENATE OF THE UNITED STATES June 12, 2019 Ms. Ernst introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To amend title 31, United States Code, to permit the Secretary of the Treasury to determine the metal composition of certain coins, and for other purposes.

1. Short title This Act may be cited as the Currency Evolution Now To Save Act or the CENTS Act . 2. Metal composition of certain coins Section 5112(b) of title 31, United States Code, is amended— (1) by inserting (1) after (b) ; and (2) by adding at the end the following: (2) Notwithstanding paragraph (1), the Secretary may prescribe a composition of materials in, and a construction of, the half dollar, quarter dollar, dime, or 5-cent coin that varies from the composition and construction required under that paragraph with respect to the coin (including by using different metals in the alloy for the coin than those required under that paragraph) if that action by the Secretary— (A) reduces the overall cost of minting the coin; and (B) does not affect— (i) the diameter and weight of the coin specified under subsection (a); or (ii) the functionality of the coin, including the electromagnetic signature with respect to the acceptance of the coin. .