To require the Secretary of the Treasury to redesign $1 Federal reserve notes so as to incorporate the preamble to the Constitution of the United States, a list describing the Articles of the Constitution, and a list describing the Amendments to the Constitution, on the reverse side of such notes.

June 14, 2005

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

To require the Secretary of the Treasury to redesign $1 Federal reserve notes so as to incorporate the preamble to the Constitution of the United States, a list describing the Articles of the Constitution, and a list describing the Amendments to the Constitution, on the reverse side of such notes.

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 `Liberty Bill Act'.

SEC. 2. FINDINGS.

The Congress finds that--

(1) many Americans are unaware of the provisions of the Constitution of the United States, one of the most remarkable and important documents in world history;

(2) an abbreviated version of the Constitution, consisting of the preamble, a list of the Articles, and a list of the Amendments, could easily be placed on the reverse side of $1 Federal reserve notes;

(3) the placement of an abbreviated version of the Constitution on $1 Federal reserve notes would remind the American people of the historical importance of the Constitution and its impact on their lives today;

(4) the preamble would remind Americans of the blessings of liberty;

(5) the Articles would remind Americans of the framework of the United States Government;

(6) the Amendments would remind Americans of the historical changes to this living document that forms the very core of the American experience; and

(7) people throughout the world would also learn about the framework of a republican government, the blessings of liberty, and the ideals of human rights through the exchange of American currency.

SEC. 3. REDESIGN OF REVERSE SIDE OF FEDERAL RESERVE NOTES.

(a) IN GENERAL- Section 5114 of title 31, United States Code, is amended by adding at the end the following new subsection:

`(d) LIBERTY BILLS-

`(1) IN GENERAL- In addition to the requirements of subsection (b) (relating to the inclusion of the inscription `In God We Trust' on all United States currency) and the 8th undesignated paragraph of section 16 of the Federal Reserve Act, the design of the reverse side of the lowest denomination of Federal reserve notes shall incorporate the preamble to the Constitution of the United States, a list describing the Articles of the Constitution, and a list describing the Amendments to the Constitution.

`(2) DESIGN- Subject to paragraph (3), the preamble to the Constitution of the United States and lists describing the Articles and Amendments of the Constitution shall appear on the reverse side of the $1 Federal reserve notes in the following format:

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g: graphics S244.001

`(3) AUTHORITY OF SECRETARY- The requirements of this subsection shall not be construed as--

`(A) prohibiting the inclusion of any other inscriptions or material on the reverse side of Federal reserve notes which the Secretary may determine to be necessary or appropriate; or

`(B) limiting any other authority of the Secretary with regard to the design of Federal reserve notes, including the adoption of any design features to deter the counterfeiting of United States currency.'.

(b) DATE OF APPLICATION- The amendment made by subsection (a) shall apply to the lowest denomination of Federal reserve notes which are first placed into circulation after December 31, 2005.

(c) SUNSET PROVISION- Federal reserve notes bearing the design required under the amendment made by subsection (a) shall only be issued during the 2-year period beginning on the date such notes are first issued pursuant to subsection (b).

END