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Bill H.R. 8816 (GENIUS Act): Status, Content, and Legislative History
Bill H.R. 8816, known as the GENIUS Act of 2022, was introduced in the U.S. House of Representatives during the 117th Congress (2021–2022). The initiative proposed authorizing the U.S. Department of the Treasury to issue commemorative coins in honor of the 50th anniversary of hip-hop. The bill did not advance further and did not become law.
Basic Information
- Full Title: To require the Secretary of the Treasury to mint coins in commemoration of the 50th anniversary of the birth of hip hop (GENIUS Act of 2022).
- Number: H.R. 8816, 117th Congress.
- Sponsor: Ritchie Torres, Democratic Representative for New York's 15th congressional district.
- Status: Not enacted. The bill did not pass the committee stage and expired at the end of the 117th Congress on January 3, 2023.
Summary and Objectives
As of the last check (October 16, 2023), the full text of the bill was not published on the official Congress.gov portal. However, according to the official summary, its primary goal was to direct the U.S. Secretary of the Treasury to mint commemorative coins:
- $5 gold coins
- $1 silver coins
- Half-dollar clad coins
The design of the coins was intended to symbolize the 50th anniversary of hip-hop as a musical and cultural phenomenon.
Legislative Timeline
- September 7, 2022: The bill was introduced in the House of Representatives and referred to the House Committee on Financial Services for further consideration.
- January 3, 2023: With the conclusion of the 117th Congress, all pending bills that had not passed both chambers automatically expired. No further actions were recorded for H.R. 8816.
Clarification Regarding Other Legislation
It is important to note that bill numbers may be reused in different sessions of Congress. There is another bill registered under the number H.R. 8816 within the 118th Congress (2023–2024). This is the “Digital Asset Market Structure and Investor Protection Act,” introduced by Patrick McHenry (R-NC-10). These legislative initiatives are unrelated.
Conclusion
Bill H.R. 8816 (GENIUS Act) was an initiative of the 117th Congress that did not progress and did not become law. It is not under consideration in the current session of Congress. For the most up-to-date information, it is recommended to check the official website of the U.S. Congress.
Sources
- H.R. 8816 — GENIUS Act of 2022. Congress.gov. URL: https://www.congress.gov/bill/117th-congress/house-bill/8816 (Accessed: October 16, 2023).