H.R. 4248 (111th): Free Competition in Currency Act of 2009

Introduced:
Dec 09, 2009 (111th Congress, 2009–2010)
Sponsor:
Rep. Ronald “Ron” Paul [R-TX14]
Status:
Died (Referred to Committee)
See Instead:
This bill was re-introduced as H.R. 1098 (112th) on Mar 15, 2011.

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on December 9, 2009, in a previous session of Congress, but was not enacted.

Progress
Introduced Dec 09, 2009
Cosponsors
1 cosponsors (1R) (show)
Committees

House Financial Services

House Judiciary

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

Full Title

To repeal the legal tender laws, to prohibit taxation on certain coins and bullion, and to repeal superfluous sections related to coinage.

Summary

No summaries available.

Text

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Last updated Dec 09, 2009.
3 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

12/9/2009--Introduced.
Free Competition in Currency Act of 2009 - Repeals the federal law establishing U.S. coins, currency, and reserve notes as legal tender for all debts, public charges, taxes, and dues. Prohibits any tax on any coin, medal, token, or gold, silver, platinum, palladium, or rhodium bullion issued by a state, the United States, a foreign government, or any other person. Prohibits states from assessing any tax or fee on any currency or other monetary instrument that is used in interstate or foreign commerce and that has legal tender status under the Constitution. Repeals provisions of the federal criminal code relating to uttering coins of gold, silver, or other metal for use as current money and making or possessing likenesses of such coins. Abates any current prosecution under such provisions and nullifies any previous convictions.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.

No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

The United States Code is the compilation of permanent laws enacted by Congress. Temporary and other non-permanent laws do not appear in the United States Code. (About half of the United States Code is the law itself, called positive law. The other half is merely a compilation of the laws but has no legal significance.)

  • Title 31: MONEY AND FINANCE
  • Subtitle IV: MONEY
  • Chapter 51: COINS AND CURRENCY
  • Subchapter I: MONETARY SYSTEM
  • Section 5103: Legal tender

Other Citations

  • 18 U.S.C. Chapter 25
  • 31 U.S.C. Chapter 51