[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1776 Engrossed in House (EH)]
2d Session
H. R. 1776
_______________________________________________________________________
AN ACT
To require the Secretary of the Treasury to mint coins in
commemoration of Black Revolutionary War patriots and the 275th
anniversary of the 1st Black Revolutionary War patriot, Crispus
Attucks.
104th CONGRESS
2d Session
H. R. 1776
_______________________________________________________________________
AN ACT
To require the Secretary of the Treasury to mint coins in
commemoration of Black Revolutionary War patriots and the 275th
anniversary of the 1st Black Revolutionary War patriot, Crispus
Attucks.
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 ``Black Revolutionary War Patriots
Commemorative Coin Act''.
SEC. 2. COIN SPECIFICATIONS.
(a) $1 Silver Coins.--In commemoration of Black Revolutionary War
patriots and the 275th anniversary of the birth of the 1st Black
Revolutionary War patriot, Crispus Attucks, who was the 1st American
colonist killed by British troops during the Revolutionary period, the
Secretary of the Treasury (hereafter in this Act referred to as the
``Secretary'') shall mint and issue not more than 500,000 1 dollar
coins, each of which shall--
(1) weigh 26.73 grams;
(2) have a diameter of 1.500 inches; and
(3) contain 90 percent silver and 10 percent copper.
(b) Legal Tender.--The coins minted under this Act shall be legal
tender, as provided in section 5103 of title 31, United States Code.
(c) Numismatic Items.--For purposes of section 5136 of title 31,
United States Code, all coins minted under this Act shall be considered
to be numismatic items.
SEC. 3. SOURCES OF BULLION.
The Secretary shall obtain silver for minting coins under this Act
only from stockpiles established under the Strategic and Critical
Materials Stock Piling Act.
SEC. 4. DESIGN OF COINS.
(a) Design Requirements.--
(1) In general.--The design--
(A) on the obverse side of the coins minted under
this Act shall be emblematic of the 1st Black
Revolutionary War patriot, Crispus Attucks; and
(B) on the reverse side of such coins shall be
emblematic of the Black Revolutionary War Patriots
Memorial.
(2) Designation and inscriptions.--On each coin minted
under this Act there shall be--
(A) a designation of the value of the coin;
(B) an inscription of the year ``1998''; and
(C) inscriptions of the words ``Liberty'', ``In God
We Trust'', ``United States of America'', and ``E
Pluribus Unum''.
(b) Selection.--The design for the coins minted under this Act
shall be--
(1) selected by the Secretary after consultation with the
Black Revolutionary War Patriots Foundation and the Commission
of Fine Arts; and
(2) reviewed by the Citizens Commemorative Coin Advisory
Committee.
SEC. 5. ISSUANCE OF COINS.
(a) Quality of Coins.--Coins minted under this Act shall be issued
in uncirculated and proof qualities.
(b) Mint Facility.--Only 1 facility of the United States Mint may
be used to strike any particular quality of the coins minted under this
Act.
(c) Commencement of Issuance.--The Secretary may issue coins minted
under this Act beginning January 1, 1998 .
(d) Termination of Minting Authority.--No coins may be minted under
this Act after December 31, 1998.
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 sum of--
(1) the face value of the coins;
(2) the surcharge provided in subsection (d) with respect
to such coins; and
(3) the cost of designing and issuing the coins (including
labor, materials, dies, use of machinery, overhead expenses,
marketing, and shipping).
(b) Bulk Sales.--The Secretary shall make bulk sales of the coins
issued under this Act at a reasonable discount.
(c) Prepaid Orders.--
(1) In general.--The Secretary shall accept prepaid orders
for the coins minted under this Act before the issuance of such
coins.
(2) Discount.--Sale prices with respect to prepaid orders
under paragraph (1) shall be at a reasonable discount.
(d) Surcharges.--All sales shall include a surcharge of $10 per
coin.
SEC. 7. 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 relieve
any person entering into a contract under the authority of this Act
from complying with any law relating to equal employment opportunity.
SEC. 8. DISTRIBUTION OF SURCHARGES.
Subject to section 10(a), all surcharges received by the Secretary
from the sale of coins issued under this Act shall be promptly paid by
the Secretary to the Black Revolutionary War Patriots Foundation for
the purpose of raising an endowment to support the construction of a
Black Revolutionary War Patriots Memorial.
SEC. 9. FINANCIAL ASSURANCES.
(a) No Net Cost to the Government.--The Secretary shall take such
actions as may be necessary to ensure that minting and issuing coins
under this Act will not result in any net cost to the United States
Government.
(b) Payment for Coins.--A coin shall not be issued under this Act
unless the Secretary has received--
(1) full payment for the coin;
(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 Deposit Insurance Corporation or the
National Credit Union Administration Board.
SEC. 10. CONDITIONS ON PAYMENT OF SURCHARGES.
(a) Payment of Surcharges.--Notwithstanding any other provision of
law, no amount derived from the proceeds of any surcharge imposed on
the sale of coins issued under this Act shall be paid to the Black
Revolutionary War Patriots Foundation unless--
(1) all numismatic operation and program costs allocable to
the program under which such coins are produced and sold have
been recovered; and
(2) the Black Revolutionary War Patriots Foundation submits
an audited financial statement which demonstrates to the
satisfaction of the Secretary of the Treasury that, with
respect to all projects or purposes for which the proceeds of
such surcharge may be used, the Foundation has raised funds
from private sources for such projects and purposes in an
amount which is equal to or greater than the maximum amount the
Foundation may receive from the proceeds of such surcharge.
(b) Annual Audits.--
(1) Annual audits of recipients required.--The Black
Revolutionary War Patriots Foundation shall provide, as a
condition for receiving any amount derived from the proceeds of
any surcharge imposed on the sale of coins issued under this
Act, for an annual audit, in accordance with generally accepted
government auditing standards by an independent public
accountant selected by the Foundation, of all such payments to
the Foundation beginning in the first fiscal year of the
Foundation in which any such amount is received and continuing
until all such amounts received by the Foundation with respect
to such surcharges are fully expended or placed in trust.
(2) Minimum requirements for annual audits.--At a minimum,
each audit of the Black Revolutionary War Patriots Foundation
pursuant to paragraph (1) shall report--
(A) the amount of payments received by the
Foundation during the fiscal year of the Foundation for
which the audit is conducted which are derived from the
proceeds of any surcharge imposed on the sale of coins
issued under this Act;
(B) the amount expended by the Foundation from the
proceeds of such surcharges during the fiscal year of
the Foundation for which the audit is conducted; and
(C) whether all expenditures by the Foundation from
the proceeds of such surcharges during the fiscal year
of the Foundation for which the audit is conducted were
for authorized purposes.
(3) Responsibility of foundation to account for
expenditures of surcharges.--The Black Revolutionary War
Patriots Foundation shall take appropriate steps, as a
condition for receiving any payment of any amount derived from
the proceeds of any surcharge imposed on the sale of coins
issued under this Act, to ensure that the receipt of the
payment and the expenditure of the proceeds of such surcharge
by the Foundation in each fiscal year of the Foundation can be
accounted for separately from all other revenues and
expenditures of the Foundation.
(4) Submission of audit report.--Not later than 90 days
after the end of any fiscal year of the Black Revolutionary War
Patriots Foundation for which an audit is required under
paragraph (1), the Foundation shall--
(A) submit a copy of the report to the Secretary of
the Treasury; and
(B) make a copy of the report available to the
public.
(5) Use of surcharges for audits.--The Black Revolutionary
War Patriots Foundation may use any amount received from
payments derived from the proceeds of any surcharge imposed on
the sale of coins issued under this Act to pay the cost of an
audit required under paragraph (1).
(6) Waiver of subsection.--The Secretary of the Treasury
may waive the application of any paragraph of this subsection
to the Black Revolutionary War Patriots Foundation for any
fiscal year after taking into account the amount of surcharges
which such Foundation received or expended during such year.
(7) Availability of books and records.--The Black
Revolutionary War Patriots Foundation shall provide, as a
condition for receiving any payment derived from the proceeds
of any surcharge imposed on the sale of coins issued under this
Act, to the Inspector General of the Department of the Treasury
or the Comptroller General of the United States, upon the
request of such Inspector General or the Comptroller General,
all books, records, and workpapers belonging to or used by the
Foundation, or by any independent public accountant who audited
the Foundation in accordance with paragraph (1), which may
relate to the receipt or expenditure of any such amount by the
Foundation.
(c) Use of Agents or Attorneys to Influence Commemorative Coin
Legislation.--No portion of any payment to the Black Revolutionary War
Patriots Foundation from amounts derived from the proceeds of
surcharges imposed on the sale of coins issued under this Act may be
used, directly or indirectly, by the Foundation to compensate any agent
or attorney for services rendered to support or influence in any way
legislative action of the Congress relating to the coins minted and
issued under this Act.
Passed the House of Representatives September 17, 1996.
Attest:
Clerk.