[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S. 483 Introduced in Senate (IS)]

103d CONGRESS
  1st Session
                                 S. 483

 To provide for the minting of coins in commemoration of Americans who 
          have been prisoners of war, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

               March 2 (legislative day, January 5), 1993

 Mr. Shelby (for himself, Mr. Mack, Mr. McCain, Mr. Robb, Mr. Warner, 
 Mr. Jeffords, and Mr. Gramm) introduced the following bill; which was 
read twice and referred to the Committee on Banking, Housing and Urban 
                                Affairs

_______________________________________________________________________

                                 A BILL


 
 To provide for the minting of coins in commemoration of Americans who 
          have been prisoners of war, and for other purposes.

    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 ``Prisoner-of-War Commemorative Coin 
Act''.

SEC. 2. COIN SPECIFICATIONS.

    (a) Issuance.--The Secretary of the Treasury (referred to in this 
Act as the ``Secretary'') shall issue not more than 1,500,000 one 
dollar coins which shall weigh 26.73 grams, have a diameter of 1.500 
inches, and shall contain 90 percent silver and 10 percent copper.
    (b) Design.--The design of such coins shall be emblematic of the 
experience of Americans who have been prisoners of war. On each such 
coin there shall be a designation of the value of the coin, an 
inscription of the year ``1993'', and inscriptions of the words 
``Liberty'', ``In God We Trust'', ``United States of America'', and ``E 
Pluribus Unum''.
    (c) Legal Tender.--The coins issued under this Act shall be legal 
tender as provided in section 5103 of title 31, United States Code.

SEC. 3. ISSUANCE OF THE COINS.

    (a) Commencement of Issuance.--The coins authorized and minted 
under this Act may be issued beginning January 15, 1994.
    (b) Termination of Authority.--The coins authorized and minted 
under this Act may not be minted after December 31, 1994.
    (c) Proof and Uncirculated Coins.--The coins authorized and minted 
under this Act may be issued in uncirculated and proof qualities and 
shall be struck at no more than one facility of the United States Mint.

SEC. 4. SOURCE OF BULLION.

    The Secretary shall obtain silver for the coins minted under this 
Act from stockpiles established under the Strategic and Critical 
Minerals Stock Piling Act (50 U.S.C. 98 et seq.).

SEC. 5. SELECTION OF DESIGN.

    The design for the coins authorized by this Act shall be selected 
by the Secretary.

SEC. 6. SALE OF COINS.

    (a) Sale Price.--The coins issued under this Act shall be sold by 
the Secretary at a price equal to the face value, plus the cost of 
designing and issuing such coins (including labor, materials, dies, use 
of machinery, and overhead expenses) and the surcharge provided for in 
subsection (d).
    (b) Bulk Sales.--The Secretary shall make bulk sales at a 
reasonable discount.
    (c) Prepaid Orders.--The Secretary shall accept prepaid orders for 
the coins issued under this Act prior to the issuance of such coins. 
Sales under this subsection shall be at a reasonable discount to 
reflect the benefit of prepayment.
    (d) Surcharges.--All sales of coins issued under this Act shall 
include a surcharge of $5 per coin.

SEC. 7. USE OF SURCHARGES.

    An amount equal to the surcharges received by the Secretary from 
the sale of coins issued under this Act shall be made available or paid 
by the Secretary in the order that follows:
            (1) Amounts to be made Available for construction of 
        museum.--The Secretary of the Treasury shall make available to 
        the Secretary of the Interior the first $3,000,000 for the 
        construction of the Andersonville Prisoner-of-War Museum in 
        Andersonville, Georgia.
            (2) Amounts to be paid to endowment fund.--After payment of 
        the amount required by paragraph (1), the Secretary of the 
        Treasury shall pay 50 percent of the remaining surcharges to 
        the endowment fund created under section 8.
            (3) Amounts to be paid to maintain national cemeteries.--
        After payment of the amount required by paragraph (1), the 
        Secretary shall pay 50 percent of the remaining surcharges to 
        the Secretary of Veterans Affairs for purposes of maintaining 
        national cemeteries pursuant to chapter 24 of title 38, United 
        States Code.

SEC. 8. ENDOWMENT FUND.

    (a) Establishment.--There is established in the Department of the 
Interior an endowment fund (hereinafter in this Act referred to as the 
``fund'') to be administered by the Secretary of the Interior and to 
consist of the amounts deposited under subsection (b).
    (b) Deposit Into Fund.--
            (1) Deposit from surcharges.--There shall be deposited into 
        the fund such amounts that are paid by the Secretary under 
        section 7(2).
            (2) Investment.--The Secretary shall have the authority to 
        invest the portion of the fund that is not, in the 
        determination of the Secretary, required to meet the current 
        needs of the fund, in obligations of the United States or in 
        obligations guaranteed as to the principal and interest by the 
        United States. In making such investments, the Secretary shall 
        select obligations having maturities suitable to the needs of 
        the fund.
    (c) Expenditures.--The Secretary of the Interior may use the 
amounts deposited in the fund under this Act to pay for the maintenance 
of the Andersonville Prisoner-of-War Museum in Andersonville, Georgia.

SEC. 9. COINAGE PROFIT FUND.

    (a) Deposits.--All amounts received from the sale of coins issued 
under this Act shall be deposited in the coinage profit fund.
    (b) Payments.--The Secretary shall pay the amounts authorized under 
this Act from the coinage profit fund.
    (c) Expenditures.--The Secretary shall charge the coinage profit 
fund with all expenditures under this Act.

SEC. 10. FINANCIAL ASSURANCES.

    (a) No Net Cost to the Government.--The Secretary shall take such 
actions as may be necessary to ensure that the minting and issuance of 
the coins referred to in section 2 shall not result in any net cost to 
the Federal Government.
    (b) Payment for Coins.--No coin shall be issued under this Act 
unless the Secretary has received--
            (1) full payment thereof;
            (2) security satisfactory to the Secretary to indemnify the 
        United States for full payment; or
            (3) a guarantee of full payment satisfactory to the 
        Secretary from a depository institution whose deposits are 
        insured by the Federal Government.

SEC. 11. GENERAL WAIVER OF PROCUREMENT REGULATIONS.

    (a) In General.--Except as provided in subsection (b), no provision 
of law governing procurement or public contracts shall be applicable to 
the procurement of goods and services necessary for carrying out the 
provisions of this Act.
    (b) Equal Employment Opportunity.--Subsection (a) shall not apply 
with respect to any law relating to equal employment opportunity.

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