[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[S. 885 Introduced in Senate (IS)]







104th CONGRESS
  1st Session
                                 S. 885

 To establish United States commemorative coin programs, and for other 
                               purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                 June 6 (legislative day, June 5), 1995

  Mr. Moynihan (for himself, Mr. Simpson, Mr. Inouye, Mr. Thomas, Mr. 
 Graham, Mr. Cochran, Mr. Akaka, Mr. Chafee, and Mr. Robb) introduced 
the following bill; which was read twice and referred to the Committee 
                 on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
 To establish United States commemorative coin programs, 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 ``United States Commemorative Coin Act 
of 1995''.

SEC. 2. DEFINITIONS.

    For purposes of this Act--
            (1) the term ``Fund'' means the National Law Enforcement 
        Officers Memorial Maintenance Fund established under section 
        201;
            (2) the term ``recipient organization'' means an 
        organization described in section 101 to which surcharges 
        received by the Secretary from the sale of coins issued under 
        this Act are paid; and
            (3) the term ``Secretary'' means the Secretary of the 
        Treasury.

                  TITLE I--COMMEMORATIVE COIN PROGRAMS

SEC. 101. COMMEMORATIVE COIN PROGRAMS.

    In accordance with the recommendations of the Citizens 
Commemorative Coin Advisory Committee, the Secretary shall mint and 
issue the following coins:
            (1) Bicentennial of united states.--On or before December 
        31, 1995, the Secretary shall mint not more than 25,000 $10 
        gold coins with specifications to be determined by the 
        Secretary.
            (2) United nations and president truman.--
                    (A) In general.--To commemorate the 50th 
                anniversary of the founding of the United Nations and 
                the role of President Harry S. Truman in the founding 
                of the United Nations, during a 1-year period beginning 
                in 1996, the Secretary shall issue--
                            (i) not more than 75,000 $5 coins, each of 
                        which shall--
                                    (I) weigh 8.359 grams;
                                    (II) have a diameter of 0.850 
                                inches; and
                                    (III) contain 90 percent gold and 
                                10 percent alloy; and
                            (ii) not more than 350,000 $1 coins, each 
                        of which shall--
                                    (I) weigh 26.73 grams;
                                    (II) have a diameter of 1.500 
                                inches; and
                                    (III) contain 90 percent silver and 
                                10 percent alloy.
                    (B) Surcharges.--All sales of the coins issued 
                under this subsection shall include a surcharge of $35 
                per coin for each $5 coin, and a surcharge of $10 per 
                coin for each $1 coin.
                    (C) Distribution of surcharges.--All surcharges 
                received by the Secretary from the sale of coins issued 
                under this subsection shall be promptly paid by the 
                Secretary in accordance with the following:
                            (i) Fifty percent of the surcharges 
                        received shall be paid to the Harry S. Truman 
                        Library Foundation.
                            (ii) Fifty percent of the surcharges 
                        received shall be paid to the United Nations 
                        Association.
            (3) Smithsonian institution.--
                    (A) In general.--To commemorate the 150th 
                anniversary of the founding of the Smithsonian 
                Institution, during a 1-year period beginning in August 
                1996, the Secretary shall issue--
                            (i) not more than 100,000 $5 coins, each of 
                        which shall--
                                    (I) weigh 8.359 grams;
                                    (II) have a diameter of 0.850 
                                inches; and
                                    (III) contain 90 percent gold and 
                                10 percent alloy; and
                            (ii) not more than 800,000 $1 coins, each 
                        of which shall--
                                    (I) weigh 26.73 grams;
                                    (II) have a diameter of 1.500 
                                inches; and
                                    (III) contain 90 percent silver and 
                                10 percent alloy.
                    (B) Surcharges.--All sales of the coins issued 
                under this subsection shall include a surcharge of $35 
                per coin for each $5 coin, and a surcharge of $10 per 
                coin for each $1 coin.
                    (C) Distribution of surcharges.--All surcharges 
                received by the Secretary from the sale of coins issued 
                under this subsection shall be promptly paid by the 
                Secretary to the Smithsonian Institution to be used to 
                support the National Numismatic Collection at the 
                National Museum of American History.
                    (D) Design.--The design of the coins issued under 
                this subsection shall be emblematic of the scientific, 
                educational, and cultural significance and importance 
                of the Smithsonian Institution. Each coin issued under 
                this subsection shall include an inscription of the 
                following words from the original bequest of James 
                Smithson: ``for the increase and diffusion of 
                knowledge''.
            (4) Franklin delano roosevelt.--
                    (A) In general.--To commemorate the public opening 
                of the Franklin Delano Roosevelt Memorial in 
                Washington, D.C., which will honor President 
                Roosevelt's leadership and legacy, during a 1-year 
                period beginning in 1997, the Secretary shall issue not 
                more than 100,000 $5 coins, each of which shall--
                            (i) weigh 8.359 grams;
                            (ii) have a diameter of 0.850 inches; and
                            (iii) contain 90 percent gold and 10 
                        percent alloy.
                    (B) Surcharges.--All sales of the coins issued 
                under this subsection shall include a surcharge of $35 
                per coin.
                    (C) Distribution of surcharges.--All surcharges 
                received by the Secretary from the sale of coins issued 
                under this subsection shall be promptly paid by the 
                Secretary to the Franklin Delano Roosevelt Memorial 
                Commission.
            (5) Yellowstone national park.--
                    (A) In general.--To commemorate the 125th 
                anniversary of the establishment of Yellowstone 
                National Park as the first national park in the United 
                States, and the birth of the national park idea, during 
                a 1-year period beginning in 1997, the Secretary shall 
                issue not more than 500,000 $1 coins, each of which 
                shall--
                            (i) weigh 26.73 grams;
                            (ii) have a diameter of 1.500 inches; and
                            (iii) contain 90 percent silver and 10 
                        percent alloy.
                    (B) Surcharges.--All sales of the coins issued 
                under this subsection shall include a surcharge of $10 
                per coin.
                    (C) Distribution of surcharges.--All surcharges 
                received by the Secretary from the sale of coins issued 
                under this subsection shall be promptly paid by the 
                Secretary in accordance with the following:
                            (i) Fifty percent of the surcharges 
                        received shall be paid to the National Park 
                        Foundation to be used for the support of 
                        national parks.
                            (ii) Fifty percent of the surcharges 
                        received shall be paid to Yellowstone National 
                        Park.
            (6) National law enforcement officers memorial.--
                    (A) In general.--To recognize the sacrifice of law 
                enforcement officers and their families in preserving 
                public safety, during a 1-year period beginning in 
                1997, the Secretary shall issue not more than 500,000 
                $1 coins, each of which shall--
                            (i) weigh 26.73 grams;
                            (ii) have a diameter of 1.500 inches; and
                            (iii) contain 90 percent silver and 10 
                        percent alloy.
                    (B) Surcharges.--All sales of the coins issued 
                under this subsection shall include a surcharge of $10 
                per coin.
                    (C) Distribution of surcharges.--After receiving 
                surcharges from the sale of the coins issued under this 
                subsection, the Secretary shall transfer to the 
                Secretary of the Interior an amount equal to the 
                surcharges received from the sale of the coins issued 
                under this subsection, which amount shall be deposited 
                in the Fund established under section 201.
                    (D) Availability.--The coins issued under this 
                subsection shall be available for issuance not later 
                than May 1997.

SEC. 102. DESIGN.

    (a) Selection.--The design for each coin issued under this Act 
shall be--
            (1) selected by the Secretary after consultation with the 
        appropriate recipient organization or organizations and the 
        Commission of Fine Arts; and
            (2) reviewed by the Citizens Commemorative Coin Advisory 
        Committee.
    (b) Designation and Inscriptions.--On each coin issued under this 
Act there shall be--
            (1) a designation of the value of the coin;
            (2) an inscription of the year; and
            (3) inscriptions of the words ``Liberty'', ``In God We 
        Trust'', ``United States of America'', and ``E Pluribus Unum''.

SEC. 103. LEGAL TENDER.

    The coins issued under this Act shall be legal tender, as provided 
in section 5103 of title 31, United States Code.

SEC. 104. SOURCES OF BULLION.

    (a) Gold.--The Secretary shall obtain gold for minting coins under 
this Act pursuant to the authority of the Secretary under other 
provisions of law.
    (b) Silver.--The Secretary shall obtain silver for minting coins 
under this Act from sources the Secretary determines to be appropriate, 
including stockpiles established under the Strategic and Critical 
Materials Stock Piling Act.

SEC. 105. SALE PRICE.

    Each coin issued under this Act shall be sold by the Secretary at a 
price equal to the sum of--
            (1) the face value of the coin;
            (2) the surcharge provided in section 101 with respect to 
        the coin;
            (3) the cost of designing and issuing the coin (including 
        labor, materials, dies, use of machinery, overhead expenses, 
        marketing, and shipping); and
            (4) the estimated profit determined under section 106(b) 
        with respect to the coin.

SEC. 106. DETERMINATION OF COSTS AND PROFIT.

    (a) Determination of Costs.--With respect to the coins issued under 
this Act, the Secretary shall, on an ongoing basis, determine--
            (1) the costs incurred in carrying out each coin program 
        authorized under this Act; and
            (2) the allocation of overhead costs among all coin 
        programs authorized under this Act.
    (b) Determination of Profit.--Prior to the sale of each coin issued 
under this Act, the Secretary shall calculate the estimated profit to 
be included in the sale price of the coin under section 105(4).

SEC. 107. GENERAL WAIVER OF PROCUREMENT REGULATIONS.

    Section 5112(j) of title 31, United States Code, shall apply to the 
procurement of goods or services necessary to carrying out the programs 
and operations of the United States Mint under this Act.

SEC. 108. PROHIBITION ON JUDICIAL REVIEW.

    Each determination made by the Secretary in implementing a 
commemorative coin program under this Act shall be made in the sole 
discretion of the Secretary and shall not be subject to judicial 
review.

SEC. 109. AUDITS.

    The Comptroller General of the United States shall have the right 
to examine such books, records, documents, and other data of each 
recipient organization as may be related to the expenditures of amounts 
paid under section 101.

SEC. 110. FINANCIAL ASSURANCES.

    It is the sense of the Congress that each coin program authorized 
under this Act should be self-sustaining and should be administered so 
as not to result in any net cost to the Numismatic Public Enterprise 
Fund.
 TITLE II--NATIONAL LAW ENFORCEMENT OFFICERS MEMORIAL MAINTENANCE FUND

SEC. 201. NATIONAL LAW ENFORCEMENT OFFICERS MEMORIAL MAINTENANCE FUND.

    (a) Establishment.--
            (1) In general.--There is established the National Law 
        Enforcement Officers Memorial Maintenance Fund, which shall be 
        a revolving fund administered by the Secretary of the Interior 
        (or the designee of the Secretary of the Interior).
            (2) Funding.--Amounts in the Fund shall include--
                    (A) amounts deposited in the Fund under section 
                101(6); and
                    (B) any donations received under paragraph (3).
            (3) Donations.--The Secretary of the Interior may accept 
        donations to the Fund.
            (4) Interest-bearing account.--The Fund shall be maintained 
        in an interest-bearing account within the Treasury of the 
        United States.
    (b) Purposes.--The Fund shall be used--
            (1) for the maintenance and repair of the National Law 
        Enforcement Officers Memorial in Washington, D.C.;
            (2) to periodically add the names of law enforcement 
        officers who have died in the line of duty to the National Law 
        Enforcement Officers Memorial;
            (3) for the security of the National Law Enforcement 
        Officers Memorial site, including the posting of National Park 
        Service rangers and United States Park Police, as appropriate;
            (4) at the discretion of the Secretary of the Interior and 
        in consultation with the Secretary and the Attorney General of 
        the United States, who shall establish an equitable procedure 
        between the Fund and such other organizations as may be 
        appropriate, to provide educational scholarships to the 
        immediate family members of law enforcement officers killed in 
        the line of duty whose names appear on the National Law 
        Enforcement Officers Memorial, the total annual amount of such 
        scholarships not to exceed 10 percent of the annual income of 
        the Fund;
            (5) for the dissemination of information regarding the 
        National Law Enforcement Officers Memorial to the general 
        public;
            (6) to administer the Fund, including contracting for 
        necessary services, in an amount not to exceed the lesser of--
                    (A) 10 percent of the annual income of the Fund; or
                    (B) $200,000 during any 1-year period; and
            (7) at the discretion of the Secretary of the Interior, in 
        consultation with the Fund, for appropriate purposes in the 
        event of an emergency affecting the operation of the National 
        Law Enforcement Officers Memorial, except that, during any 1-
        year period, not more than $200,000 of the principal of the 
        Fund may be used to carry out this paragraph.
    (c) Budget and Audit Treatment.--The Fund shall be subject to the 
budget and audit provisions of chapter 91 of title 31, United States 
Code.
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