Coin Metal Modification Authorization and Cost Savings Act of 2020

IIB 116TH CONGRESS 2D SESSION H. R. 7995 IN THE SENATE OF THE UNITED STATES DECEMBER 3, 2020 Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs AN ACT To amend title 31, United States Code, to save Federal funds by authorizing changes to the composition of circu- lating 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 VerDate Sep 11 2014 00:17 Dec 04, 2020 Jkt 019200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H7995.RFS H7995 kjohnson on DSK79L0C42PROD with BILLS 2 HR 7995 RFS SECTION 1. SHORT TITLE. 1 This Act may be cited as the ‘‘Coin Metal Modifica- 2 tion Authorization and Cost Savings Act of 2020’’. 3 SEC. 2. SAVING FEDERAL FUNDS BY AUTHORIZING 4 CHANGES TO THE COMPOSITION OF CIRCU- 5 LATING COINS. 6 Section 5112 of title 31, United States Code, is 7 amended by adding at the end the following: 8 ‘‘(x) COMPOSITION OF CIRCULATING COINS.— 9 ‘‘(1) IN GENERAL.—Notwithstanding any other 10 provision of law, and subject to the other provisions 11 of this subsection, the Director of the United States 12 Mint (referred to in this subsection as the ‘Direc- 13 tor’), in consultation with the Secretary, may modify 14 the metallic composition of circulating coins to a new 15 metallic composition (including by prescribing rea- 16 sonable manufacturing tolerances with respect to 17 those coins) if a study and analysis conducted by the 18 United States Mint, including solicitation of input, 19 including input on acceptor tolerances and require- 20 ments, from industry stakeholders who could be af- 21 fected by changes in the composition of circulating 22 coins, indicates that the modification will— 23 ‘‘(A) reduce costs incurred by the tax- 24 payers of the United States; 25 VerDate Sep 11 2014 00:17 Dec 04, 2020 Jkt 019200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H7995.RFS H7995 kjohnson on DSK79L0C42PROD with BILLS 3 HR 7995 RFS ‘‘(B) be seamless, which shall mean the 1 same diameter and weight as United States 2 coinage being minted on the date of enactment 3 of this subsection and that the coins will work 4 interchangeably in most coin acceptors using 5 electromagnetic signature technology; and 6 ‘‘(C) have as minimal an adverse impact as 7 possible on the public and stakeholders. 8 ‘‘(2) NOTIFICATION TO CONGRESS.—On the 9 date that is at least 90 legislative days before the 10 date on which the Director begins making a modi- 11 fication described in paragraph (1), the Director 12 shall submit to Congress notice that— 13 ‘‘(A) provides a justification for the modi- 14 fication, including the support for that modi- 15 fication in the study and analysis required 16 under paragraph (1) with respect to the modi- 17 fication; 18 ‘‘(B) describes how the modification will 19 reduce costs incurred by the taxpayers of the 20 United States; 21 ‘‘(C) certifies that the modification will be 22 seamless, as described in paragraph (1)(B); and 23 VerDate Sep 11 2014 00:17 Dec 04, 2020 Jkt 019200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H7995.RFS H7995 kjohnson on DSK79L0C42PROD with BILLS 4 HR 7995 RFS ‘‘(D) certifies that the modification will 1 have as minimal an adverse impact as possible 2 on the public and stakeholders. 3 ‘‘(3) CONGRESSIONAL AUTHORITY.—The Direc- 4 tor may begin making a modification proposed under 5 this subsection not earlier than the date that is 90 6 legislative days after the date on which the Director 7 submits to Congress the notice required under para- 8 graph (2) with respect to that modification, unless 9 Congress, during the period of 90 legislative days 10 beginning on the date on which the Director submits 11 that notice— 12 ‘‘(A) finds that the modification is not jus- 13 tified in light of the information contained in 14 that notice; and 15 ‘‘(B) enacts a joint resolution of dis- 16 approval of the proposed modification. 17 ‘‘(4) PROCEDURES.—For purpose of paragraph 18 (3)— 19 ‘‘(A) a joint resolution of disapproval is a 20 joint resolution the matter after the resolving 21 clause of which is as follows: ‘That Congress 22 disapproves the modification submitted by the 23 Director of the United States Mint.’; and 24 VerDate Sep 11 2014 00:17 Dec 04, 2020 Jkt 019200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\H7995.RFS H7995 kjohnson on DSK79L0C42PROD with BILLS 5 HR 7995 RFS ‘‘(B) the procedural rules in the House of 1 Representatives and the Senate for a joint reso- 2 lution of disapproval described under paragraph 3 (3) shall be the same as provided for a joint 4 resolution of disapproval under chapter 8 of 5 title 5, United States Code.’’. 6 SEC. 3. DETERMINATION OF BUDGETARY EFFECTS. 7 The budgetary effects of this Act, for the purpose of 8 complying with the Statutory Pay-As-You-Go Act of 2010, 9 shall be determined by reference to the latest statement 10 titled ‘‘Budgetary Effects of PAYGO Legislation’’ for this 11 Act, submitted for printing in the Congressional Record 12 by the Chairman of the House Budget Committee, pro- 13 vided that such statement has been submitted prior to the 14 vote on passage. 15 Passed the House of Representatives December 2, 2020. Attest: CHERYL L. JOHNSON, Clerk. VerDate Sep 11 2014 00:17 Dec 04, 2020 Jkt 019200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\H7995.RFS H7995 kjohnson on DSK79L0C42PROD with BILLS