113 HR 1218 IH: Commemorative Coins Reform Act of 2013 U.S. House of Representatives 2013-03-15 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 113th CONGRESS 1st Session H. R. 1218 IN THE HOUSE OF REPRESENTATIVES March 15, 2013 Mr. Amash (for himself, Mr. Duncan of South Carolina, Mr. LaMalfa, and Mr. Massie) introduced the following bill; which was referred to the Committee on Financial Services A BILL To prohibit the payment of surcharges for commemorative coin programs to private organizations or entities, and for other purposes.

1.

Short title

This Act may be cited as the Commemorative Coins Reform Act of 2013.

2.

Prohibition on payment of surcharges to non-Federal entities

Section 5134(f) of title 31, United States Code, is amended to read as follows: (f)

Prohibition on payment of surcharges to organizations outside of the Federal Government

(1)

In general

Notwithstanding any other provision of law, no surcharges collected with respect to the sale of any numismatic item may be paid to any organization outside of the Federal Government, other than with respect to the costs of producing and selling such item. (2)

Payment of costs

Surcharges collected in connection with the sale of any numismatic item shall be used to recover all numismatic operation and program costs allocable to the program under which such numismatic item is produced and sold. (3)

Excess deposited into Treasury

Amounts of surcharges collected in excess of the amounts described in paragraph (2) shall be transferred by the Fund to the general fund of the Treasury for the purpose of deficit reduction. .

3.

Applicability

Subsection (f) of section 5134, United States Code, as amended by this Act, shall apply with respect to any commemorative coin program established or numismatic item produced pursuant to an Act enacted on or after the date of enactment of this Act.