SENATE BILL: Eliminating small Dollar denominations Act (Passed)

[Southern Senator North Carolina Yankee]

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.

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

4. 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 $1 dollar).
        d. Dollar - shall be worth 1$ (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
        a. $5 bill
        b. $10 bill
        c. $20 bill
        d. $50 bill
        e. $100 bill
        f. $200 bill

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.

People's Regional Senate

Sponsor: Tack50
Senate Designation: SB23:09

[Southern Senator North Carolina Yankee]

Sponsor, speak!!!

[Southern Senator North Carolina Yankee]

Don't think the general public can formally propose amendments, but if a Senator sponsors it I am declaring it not friendly.

Its like the video clip of Gore counting the electoral votes and dismissing objection after objecting from the CBC relating to Florida and all of which desired to make him President.

Is the objection amendment signed by a Senator?

[Southern Senator North Carolina Yankee]

So with no in house sponsor, I take it no vote on the Jimmy idea?


Senators have 24 hours to object to Tack's revised amendment, S23:14.

[Southern Senator North Carolina Yankee]

The amendment is adopted.

[Southern Senator North Carolina Yankee]

So follow up?

[Southern Senator North Carolina Yankee]

The penny being already gone kind of undermines the point of this - I don’t really see a gain with switching to $1 and $2 coins - a lot of infrastucture will have to be modified and there aren’t any clear benefits to doing that.

Fron what I can tell this would save the government money because coins last longer than a bill and therefore there is less need to produce currency

What is the estimated difference in time durability? And then the follow up to that is does the savings of that outweigh the up front costs that Sestak discussed?

[Southern Senator North Carolina Yankee]

So where are we at then?

[Southern Senator North Carolina Yankee]

A vote is now open on S23:20 by LT, Senators please vote Aye, Nay or Abstain.

[Southern Senator North Carolina Yankee]

Oh, God, are we doing this again? Pennies are pointless, cost double their cash value to mint, and most importantly do not facilitate the exchange of goods and services. When was the last time anyone here paid a bill with pennies? I don't usually describe myself as a fiscal conservative, but reviving a denomination for what amount to sentimental reasons is the epitome of corporate welfare. Very disappointing to see this idea gaining traction in the Senate!

(The U.S. used to mint a coin worth 0.005% of a dollar until it was discontinued for the same reasons we got rid of the penny —should we bring back the half penny, too?)

https://en.wikipedia.org/wiki/Half_cent_(United_States_coin)

[Southern Senator North Carolina Yankee]

Come on people, vote! This only has a day and a half left.

[Southern Senator North Carolina Yankee]

Oh on LT’s amendment nay, Just axe the penny.

Yeah. Nay

This has just a few hours left.

[Southern Senator North Carolina Yankee]

Oh on LT’s amendment nay, Just axe the penny.

Yeah. Nay

This has just a few hours left.

. Reposting this post oath.

[Southern Senator North Carolina Yankee]

Vote on Amendment:

Aye (2): Jimmy and LT
Nay (4): NC Yankee, Tack50, Scott and YE
Abstain (0):

Didn't Vote (2) Devout (successor voted), Pyro (Successor Vote)

The amendment has failed.

[Southern Senator North Carolina Yankee]

Still got a couple of hours before we can vote on Jimmy's amendment. So in that time, Jimmy what are your thoughts on Tack's responding amendment?

[Southern Senator North Carolina Yankee]

Okay we will do Jimmy's vote first starting in about exactly 3 hours. Then as soon as that one is finished we will vote on Tack's.

Its shame they overlap. Its been years since I double headed an amendment vote.

[Southern Senator North Carolina Yankee]

AN ACT

To ensure coins are not costing more to produce than face value of such coins.

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. Effective date

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

Sponsor Feedback: Hostile
Status: A vote is now open on this amendment, Senators please vote Aye, Nay or Abstain.

[Southern Senator North Carolina Yankee]

I’m confused here....

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

Technically the penny is already eliminated under current law if I am not mistaken?

[Southern Senator North Carolina Yankee]

Aye

[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.

[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.

[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?

[Southern Senator North Carolina Yankee]

Senators have 24 hours to object?