Bill by Congressman David Scott on the President's Desk

Press Release

Bill by Congressman David Scott on the President's Desk

Today, the Senate passed H.R. 3703 without amendment by unanimous consent. This measure was introduced by Congressman Scott to address some discrepancies in the current law regarding the new presidential dollar coins.

"Even as the new dollar coin is an exciting new form of currency for America, I want to ensure that the beverage and food vending services industry is not faced with dispensing issues," Congressman Scott said. "Changing all vending machines to comply with the new coin would cost millions of dollars. To address this issue, I introduced legislation, H.R. 3703, which would address the federal property dollar coin dispensing issue and would provide an exemption for machines that only accept currency up to $1.00 bills."

H.R. 3703 would amend a provision in the dollar coin law that runs counter to the public policy intent of the Act, and actually works to impede the circulation of the dollar coins. In circumstances where a vending machine vends a lower priced item, such as $1.00 or $1.25, there would not be a need to dispense a dollar coin as change. By specifically requiring these machines to have an inventory of dollar coins ready for dispensing, we are creating a situation where these coins will end up sitting dormant, effectively removing them from circulation. H.R. 3703 must now be signed into law by the President.

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