[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4127 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 4127

To amend title 31, United States Code, to prohibit the further minting 
of 1-cent coins until the Secretary of the Treasury and the Chairman of 
the Board of Governors of the Federal Reserve System certify in writing 
 that there is not a surplus of 1-cent coins already available for use 
                in transactions, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            November 8, 2007

   Mr. Paul introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
To amend title 31, United States Code, to prohibit the further minting 
of 1-cent coins until the Secretary of the Treasury and the Chairman of 
the Board of Governors of the Federal Reserve System certify in writing 
 that there is not a surplus of 1-cent coins already available for use 
                in transactions, 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 ``Make No Cents Until It Makes Sense 
Act''.

SEC. 2. PRODUCTION OF 1-CENT COINS SUSPENDED PENDING CERTIFICATION OF 
              NEED.

    (a) In General.--Subchapter II of chapter 51 of title 31, United 
States Code, is amended by adding at the end the following new section:
``Sec. 5123. Production of 1-cent coins suspended pending certification 
              that there is no surplus of such coins anywhere
    ``(a) In General.--The Secretary of the Treasury may not produce 
any 1-cent coins after the date of the enactment of the Make No Cents 
Until It Makes Sense Act until the certifications described in 
subsection (b) are delivered as described in subsection (b)(2).
    ``(b) Conditions for Resumption of Production.--The Secretary of 
the Treasury may not resume the production of 1-cent coins after the 
date referred to in subsection (a) until--
            ``(1) the Secretary and the Chairman of the Board of 
        Governors of the Federal Reserve System separately certify, in 
        writing, that there is no surplus of 1-cent coins anywhere 
        within the United States; and
            ``(2) such certifications are submitted to the Committee on 
        Financial Services and the Committee on Appropriations of the 
        House of Representatives and the Committee on Banking, Housing, 
        and Urban Affairs and the Committee on Appropriations of the 
        Senate at least 30 days before the effective date of any such 
        resumption of production.''.
    (b) Clerical Amendment.--The table of sections for chapter 51 of 
title 31, United States Code, is amended by inserting after the item 
relating to section 5122 the following new item:

``5123. Production of 1-cent coins suspended pending certification that 
                            there is no surplus of such coins 
                            anywhere.''.
                                 <all>