[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2635 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 2635

 To amend title 31, United States Code, to suspend the Presidential $1 
Coin Program when coin stockpiles are sufficient to meet the needs for 
                   one year, and for other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                             July 25, 2011

 Mr. Polis (for himself and Ms. Speier) introduced the following bill; 
       which was referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
 To amend title 31, United States Code, to suspend the Presidential $1 
Coin Program when coin stockpiles are sufficient to meet the needs for 
                   one year, 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 ``Cutting Out Inefficient and Needless 
Spending Act of 2011'' or the ``COINS Act of 2011''.

SEC. 2. SUSPENSION OF PRESIDENTIAL $1 COIN PROGRAM DURING SURPLUS.

    Section 5112(n)(8) of title 31, United States Code, is amended by 
adding on the end the following: ``The Secretary shall suspend issuance 
of coins under this subsection during any period for which the 
Secretary determines that the surplus supply of $1 coins exceeds the 
reasonable circulation needs for one year.''.

SEC. 3. REMOVAL OF UNMIXED SUPPLIES REQUIREMENT.

    Section 5112(p)(3)(D) of title 31, United States Code, is amended 
by striking ``ensuring that'' and all that follows through ``(ii) 
circulating coins'' and inserting the following: ``ensuring that 
circulating coins''.
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