The main purpose of this legislation is to establish a clear rule that prohibits the depiction of any living President or any living person on United States coins and currency. The goal is to maintain a tradition of only honoring deceased individuals on U.S. money, thereby avoiding potential controversies or political implications associated with living figures. Key provisions of this legislation include two main points. First, it specifically prohibits any portrait or bust of a living President from being featured on U.S. coins or currency, which includes commemorative coins.