Coinage Efficiency Act of 2007

Coinage Efficiency Act of 2007 - Declares that specified authority of the Director of the U.S. Mint shall cease to apply, and shall have no force or effect, with respect to one-cent coins.

Denies the Secretary of the Treasury authority to prescribe any regulations that would limit or prohibit the export, melting, or treatment of the one-cent coin until such time as the Secretary first issues a one-cent coin with a different metallic content than the one-cent coins issued as of the date of enactment of this Act.

[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3917 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 3917

  To suspend the effectiveness of certain regulations relating to the 
 penny, and the authority to prescribe such regulations, and for other 
                               purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 22, 2007

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

_______________________________________________________________________

                                 A BILL


 
  To suspend the effectiveness of certain regulations relating to the 
 penny, and the authority to prescribe such regulations, 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 ``Coinage Efficiency Act of 2007''.

SEC. 2. SUSPENSION OF REGULATORY AUTHORITY.

    (a) In General.--The regulations prescribed by the Director of the 
United States Mint, pursuant to a delegation by the Secretary of the 
Treasury of the Secretary's authority under section 5111(d) of title 
31, United States Code, as published in final form in the Federal 
Register on April 16, 2007 (Vol. 72, No. 72, page 18880, et seq.), and 
codified as part 82 of chapter 1 of subtitle B of title 31, Code of 
Federal Regulations, shall cease to apply as of the date of the 
enactment of this Act, and shall have no force or effect after such 
date, with respect to 1-cent coins.
    (b) Suspension of Prospective Regulations.--The Secretary of the 
Treasury shall have no authority to prescribe any regulations under 
section 5111(d) of title 31, United States Code, that would limit or 
prohibit the export, melting, or treatment of the 1-cent coin during 
the period beginning on the date of the enactment of this Act and 
ending on the date when the Secretary first issues a 1-cent coin with a 
different metallic content than the 1-cent coins issued as of such date 
of enactment.
    (c) No Effect on Other Coins.--No provision of this section shall 
be construed as affecting--
            (1) the applicability of the regulations referred to in 
        subsection (a) to coins other than the 1-cent coin; or
            (2) the authority of the Secretary of the Treasury to 
        prescribe regulations under section 5111(d) of title 31, United 
        States Code, with respect to coins other than the 1-cent coin.
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