103d CONGRESS
2d Session
Sponsor: Sen Leahy, Patrick J.
(introduced 5/25/1994) Cosponsors: 1-Sen Kerry, John F. - 5/25/1994
Latest Major Action: 5/25/1994 Referred to Senate committee. Status: Read twice and referred to the Committee on Banking.
S. 2158 (edited for briefness) further detail-
http://thomas.loc.gov/cgi-bin/query/z?c103:S.2158:
SEC. 3. COUNTERFEIT-RESISTANT $100 DENOMINATION CURRENCY.
(a) IN GENERAL- Subchapter II of chapter 51 of title 31, United States Code, is amended by adding at the end the following new section:
`Sec. 5123. Counterfeit-resistant $100 currency
`(d) DOMESTIC USE AND NONDOMESTIC USE CURRENCY- Beginning on the date that is 18 months after the date of enactment of this section--
`(1) domestic use currency issued in accordance with this section shall be recognized as constituting a negotiable claim against the United States Treasury only when presented within the United States, and shall constitute legal tender for any debts, public or private, only when presented in the United States, but such currency may be exchanged for equal values of $100 denomination nondomestic use currency (or other United States currency) only at financial institutions regulated by United States law and subject to United States currency transaction reporting and other money laundering deterrence requirements; and
`(2) nondomestic use currency shall be recognized as constituting a negotiable claim against the United States Treasury, and legal tender for any debts, public or private, only when presented outside of the United States, but such currency may be exchanged for equal values of $100 denomination domestic use currency (or other United States currency) at financial institutions regulated by United States law and subject to United States currency transaction reporting and other money laundering deterrence requirements.
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