I 112th CONGRESS 1st Session H. R. 2635 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.

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.

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..

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.