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119th CONGRESS
1st Session |
To amend title 31, United States Code, to prohibit the Secretary of the Treasury from minting or issuing 1-cent coins.
Mr. Merkley (for himself and Mr. Lee) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
To amend title 31, United States Code, to prohibit the Secretary of the Treasury from minting or issuing 1-cent coins.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
This Act may be cited as the “Make Sense Not Cents Act”.
It is the sense of Congress that Congress has the sole authority to coin money and regulate currency.
SEC. 3. Discontinuation of 1-cent coins.
(a) In general.—The Secretary of the Treasury may not mint or issue a 1-cent coin.
(b) Technical and conforming amendments.—
(1) Title 31, United States Code, is amended—
(I) by striking paragraph (6); and
(II) by redesignating paragraphs (7) through (12) as paragraphs (6) through (11), respectively;
(ii) in subsection (b), by striking the eighth sentence;
(iii) by striking subsection (c);
(iv) in subsection (i), by striking “(7), (8), (9), and (10)” each place the term appears and inserting “(6), (7), (8), and (9)”;
(v) in subsection (j), by striking “(7), (8), (9), or (10)” and inserting “(6), (7), (8), or (9)”; and
(vi) in subsection (v), by striking “paragraph (12)” each place the term appears and inserting “paragraph (11)”;
(B) in section 5113(a), by striking the third sentence; and
(C) in section 5132(a), by striking “through (6)” each place the term appears and inserting “through (5)”.
(2) Section 408(m)(3)(A)(i) of the Internal Revenue Code of 1986 is amended by striking “paragraph (7), (8), (9), or (10)” and inserting “paragraph (6), (7), (8), or (9)”.
SEC. 4. No effect on legal tender.
Notwithstanding any other provision of this Act, or any amendment made by this Act, one-cent coins are legal tender in the United States for all debts, public and private, public charges, taxes, and duties, regardless of the date of minting or issue.