SENATE BILL: Eliminating small Dollar denominations Act (Passed)

[At-Large Senator LouisvilleThunder]

Aye

[Former President tack50]

Ok, so my amendment does not get rid of the nickel. It only does so if the composition is impossible to revise, which I think is unlikely (though it does require GM confirmation). Scott is correct here.

Anyways if that is where the Senate is concerned, withdrawing my amendment and replacing it with this one instead. Would this be acceptable to everyone?

A BILL
To get rid of small denominations in Atlasian currency

Be it enacted by the Senate and the House of Representatives, in Congress assembled:

Section 1. Title

This legislation may be cited as the Eliminating small Dollar denominations Act Dollar currency reorganization Act.

Section 2. Eliminating small dollar denominations

1. Beginning on January 1st, 2021; The Atlasian Mint shall not produce any more Pennies or coins that are worth 1 Atlasian cent (1% of one Atlasian Dollar); or any other sort of coin worth less than a Nickel (5 Atlasian cents, or 5% of an Atlasian Dollar).

2. Beginning on January 1st, 2021; the Bureau of Engraving and Printing may not print any bill that is worth less than 5 Atlasian dollars (500% of one Atlasian Dollar); including but not limited to 1 and 2$ bills.

3. The Atlasian Mint shall revise the composition of the nickel (0.05$ coin) and change its manufacturing process and composition in such a way that the manufacturing cost of the coin falls below its nominal value. This shall be done before July 31st, 2021. If this is not possible, the Atlasian Mint shall cease the coinage of the nickel (0.05$ coin) by July 31st, 2021. continue minting the nickel as usual

4. Prices may still be displayed by stores and other sellers though 2 full decimal places.

5. If a consumer is paying with a credit card, cheque or other form of payment where the exact amount can be paid; the seller must deduct the exact amount the buyer owes. If the consumer is paying with cash, the transaction's final price shall be rounded to the nearest multiple of 5 cents.

Section 3. Amending old legislation

1. Section II.1 of the "The Currency of Atlasia Act" shall be amended as follows:

  a. Penny - shall be worth 1¢ (or equivalent 1% of the $1 dollar bill).
        a. Nickel - shall be worth 5¢ (or equivalent 5% of $1 dollar).
        b. Dime - shall be worth 10¢ (or equivalent 10% of $1 dollar).
        c. Quarter - shall be worth 25¢ (or equivalent 25% of $1 dollar).
        d. Half Dollar - shall be worth 50¢ (or equivalent 50% of $1 dollar)
        d. Dollar - shall be worth 1$ (or equivalent 100% of 1$ dollar)
        e. Two Dollar - shall be worth 2$ (or equivalent 200% of 1$ dollar)

2. Section III.1 of the "The Currency of Atlasia Act" shall be amended as follows

      a. $1 bill
        b. $5 bill
        c. $10 bill
        d. $20 bill
        e. $50 bill
        f. $100 bill
        g. $200 bill

3. Section 2.1 shall be implemented in a way compatible with the Au Revoir to Useless Coins Act

Section 4. Enactment

1. This bill shall go into effect immediately after passage
2. Old coins and bill shall remain legal tender until December 31st, 2023
3. After December 31st, 2023; all legal tender minted before said date shall be able to be exchanged for its equivalent legal tender minted after said date at bureaux de change. However, 1 cent coins must be exchanged in full multiples of 5 with no rounding.

[/quote]

[Former President tack50]

Anyways

Nay

[Esteemed Jimmy]

I’m confused here....

I want to eliminate the penny but not the nickle. How should I vote?

The penny is already eliminated under current federal law; this amendment guarantees the nickel will stay without including an unnecessary hypothetical scenario of it being eliminated.

[Esteemed Jimmy]

I’ll be adding a section in my amendment with the purpose of Section 2(5) to my amendment once the vote ends.


I object to the amendment above for the following reasons:

Section 2(1) - There are no coins worth less than a nickel minted.

Section 2(4) - Nothing in this act can be interpreted as preventing this due to the nickel no longer potentially being eliminated.

Section 3(1) - All the cost savings of eliminating the penny and changing the composition of the nickel would probably be canceled out by minting a coin that won’t be used much

Section 3(2) - There is no change being made to federal law here.

Section 4(2-3) Even in Canada the penny is still legal tender even though it hasn’t been made for 7 years.

[Southern Senator North Carolina Yankee]

Aye

[Former President tack50]

Well, screw this. I guess there is no way for the "original vision" I had to be kept so this is as good as it will get I suppose.

There does not seem to be the apetite for a 50 cent coin, a 1 or 2$ coin (replacing the 1$ notes) or a 200$ bill.

Withdrawing the amendment.

[Southern Senator North Carolina Yankee]

Well, screw this. I guess there is no way for the "original vision" I had to be kept so this is as good as it will get I suppose.

There does not seem to be the apetite for a 50 cent coin, a 1 or 2$ coin (replacing the 1$ notes) or a 200$ bill.

Withdrawing the amendment.

I am not against any of those. I just prefer Jimmy's handling of the nickel.

[YE]

Abstain.

[Southern Senator North Carolina Yankee]

Vote on Amendment S24:01 by Jimmy to the Eliminating Small Dollar Denominations Act:

Aye (4): Jimmy, LT, NC Yankee and Scott
Nay (1): Tack50
Abstain (1): YE

The amendment has been adopted.


I now remember that I had the votes to end this after I voted and I completely forgot to end it.

[Esteemed Jimmy]

Proposing amendment adding Section 3:

AN ACT

To ensure coins are not costing more to produce than face value of such coins, and to account for the discontinued minting of pennies in physical transactions.

Section 1. Title

This legislation may be cited as the "Coin Composition Revision Act".

Section 2. Coin composition revision

(a) In general. —

The Atlasian Mint shall work to revise the composition of the nickel ($0.05 coin) and change its manufacturing process and composition in such a way that the manufacturing cost of the coin falls below such coins nominal value.

(b) Date. —

Subsection(a) shall be completed before July 31 of 2021.

Section 3. Physical transactions

All physical transitions using cash between a consumer and a business entity shall be rounded to the nearest multiple of $0.05 after the application of any applicable taxes.

Section 4. Effective date

This Act shall take effect immediately on the date of the enactment of this Act.

[Former President tack50]

The amendment is friendly

[Southern Senator North Carolina Yankee]

AN ACT

To ensure coins are not costing more to produce than face value of such coins, and to account for the discontinued minting of pennies in physical transactions.

Section 1. Title

This legislation may be cited as the "Coin Composition Revision Act".

Section 2. Coin composition revision

(a) In general. —

The Atlasian Mint shall work to revise the composition of the nickel ($0.05 coin) and change its manufacturing process and composition in such a way that the manufacturing cost of the coin falls below such coins nominal value.

(b) Date. —

Subsection(a) shall be completed before July 31 of 2021.

Section 3. Physical transactions

All physical transitions using cash between a consumer and a business entity shall be rounded to the nearest multiple of $0.05 after the application of any applicable taxes.

Section 4. Effective date

This Act shall take effect immediately on the date of the enactment of this Act.

Sponsor Feedback: Friendly
Status: Senators have 24 hours to object.

[Southern Senator North Carolina Yankee]

The amendment is adopted.

[Southern Senator North Carolina Yankee]

So next steps here?

[Esteemed Jimmy]

I motion for a final vote.

[Southern Senator North Carolina Yankee]

Senators have 24 hours to object?

[Southern Senator North Carolina Yankee]

A Final vote is now open on this legislation, Senators please vote Aye, Nay or Abstain.

[Former President tack50]

Aye

[The world will shine with light in our nightmare]

Aye

[Esteemed Jimmy]

Aye

[YE]

Abstain.

[At-Large Senator LouisvilleThunder]

Abstain

[Southern Senator North Carolina Yankee]

AYE


Votes to pass, senators have 24 hours to change their votes.

[Southern Senator North Carolina Yankee]

Vote on Final Passage of the Eliminating small Dollar denominations Act:

Aye (4): Jimmy, NC Yankee, Tack and Scott
Nay (0)
Abstain (2): LT and YE

This bill has passed and is sent to the VP.