House Resolution Bill to Abolish The Federal Reserve
Fri Feb 2, 2007 22:25

 
House Resolution Bill to Abolish The Federal Reserve
http://www.govrecords.org/hr-2778-ih-to-abolish-the-board-of-governors-of-the.html


108th Congressional Bills H.R. 2778 (ih) To abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes. [Introduced in House] ...

H.R. 2778 (ih) To abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes. [Introduced in House] ...

Web http://www.GovRecords.org
108th CONGRESS
1st Session
H. R. 2777

To prohibit the Secretary of the Treasury and the Board of Governors of the Federal Reserve System from including any information storage capability on the currency of the United States or imposing any fee or penalty on any person for the holding by such person of currency of the United States, including Federal reserve notes, for any period of time.

IN THE HOUSE OF REPRESENTATIVES
July 17, 2003

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

A BILL

To prohibit the Secretary of the Treasury and the Board of Governors of the Federal Reserve System from including any information storage capability on the currency of the United States or imposing any fee or penalty on any person for the holding by such person of currency of the United States, including Federal reserve notes, for any period of time.

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 ``Currency `Carry Tax' Prohibition Act of 2003''.

SEC. 2. CERTAIN CURRENCY PROVISIONS PROHIBITED.

(a) United States Currency Notes.--Section 5115 of title 31, United States Code, is amended by adding at the end the following new subsections:
``(c) Information Storage Capability Prohibited.--The Secretary may not include any information storage capability on United States currency notes.
``(d) Holding Fee Prohibited.--The Secretary may not impose any fee or penalty on any person for the holding by such person of any United States currency note for any period of time.''.
(b) Federal Reserve Notes.--
(1) Information storage capability prohibited.--The 8th
undesignated paragraph of section 16 of the Federal Reserve Act
(12 U.S.C. 418) is amended by adding at the end the following new sentence: ``The Secretary of the Treasury and the Board may not include any information storage capability on any Federal reserve note.''.
(2) Holding fee prohibited.--The 1st undesignated paragraph of section 16 of the Federal Reserve Act (12 U.S.C. 411) is
amended by adding at the end the following new sentence: ``The Board may not impose any fee or penalty on any person for the holding by such person of any Federal reserve note for any period of time or in connection with a redemption under the
preceding sentence.''.

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The Federal Reserve Is A privately Owned Corporation

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