[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S. 152 Introduced in Senate (IS)]

103d CONGRESS
  1st Session
                                 S. 152

 To amend the Mount Rushmore Commemorative Coin Act to conform to the 
                          intent of Congress.


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                   IN THE SENATE OF THE UNITED STATES

             January 21 (legislative day, January 5), 1993

 Mr. Pressler introduced the following bill; which was read twice and 
    referred to the Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
 To amend the Mount Rushmore Commemorative Coin Act to conform to the 
                          intent of Congress.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. DISTRIBUTION OF SURCHARGES.

    Section 8 of the Mount Rushmore Commemorative Coin Act (31 U.S.C. 
5112 note) is amended by striking paragraphs (1) and (2) and inserting 
the following:
            ``(1) the first $18,750,000 shall be promptly paid by the 
        Secretary to the Society to assist the Society's efforts to 
        improve, enlarge, and renovate the Mount Rushmore National 
        Memorial; and
            ``(2) the remainder shall be returned to the United States 
        Treasury for purposes of reducing the national debt.''.

SEC. 2. RETROACTIVE EFFECT.

    The amendments made by section 1 shall be deemed to have the same 
effective date as the Mount Rushmore Commemorative Coin Act. Any 
surcharges paid into the United States Treasury prior to the date of 
enactment of this Act in connection with the issuance of coins under 
the Mount Rushmore Commemorative Coin Act (which amounts have not been 
otherwise obligated) shall be redistributed by the Secretary of the 
Treasury in accordance with the amendments made by section 1.

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