CENTS Act

II 116TH CONGRESS 1ST SESSION S. 1794 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. 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 Sec- retary of the Treasury to determine the metal composi- tion of certain coins, and for other purposes. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Currency Evolution 4 Now To Save Act’’ or the ‘‘CENTS Act’’. 5 SEC. 2. METAL COMPOSITION OF CERTAIN COINS. 6 Section 5112(b) of title 31, United States Code, is 7 amended— 8 (1) by inserting ‘‘(1)’’ after ‘‘(b)’’; and 9 VerDate Sep 11 2014 00:48 Jun 14, 2019 Jkt 089200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S1794.IS S1794 pamtmann on DSKBFK8HB2PROD with BILLS 2 •S 1794 IS (2) by adding at the end the following: 1 ‘‘(2) Notwithstanding paragraph (1), the Secretary 2 may prescribe a composition of materials in, and a con- 3 struction of, the half dollar, quarter dollar, dime, or 5- 4 cent coin that varies from the composition and construc- 5 tion required under that paragraph with respect to the 6 coin (including by using different metals in the alloy for 7 the coin than those required under that paragraph) if that 8 action by the Secretary— 9 ‘‘(A) reduces the overall cost of minting the 10 coin; and 11 ‘‘(B) does not affect— 12 ‘‘(i) the diameter and weight of the coin 13 specified under subsection (a); or 14 ‘‘(ii) the functionality of the coin, including 15 the electromagnetic signature with respect to 16 the acceptance of the coin.’’. 17 Æ VerDate Sep 11 2014 00:48 Jun 14, 2019 Jkt 089200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\S1794.IS S1794 pamtmann on DSKBFK8HB2PROD with BILLS