[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3679 Introduced in House (IH)]
106th CONGRESS
2d Session
H. R. 3679
To provide for the minting of commemorative coins to support the 2002
Salt Lake Olympic Winter Games and the programs of the United States
Olympic Committee.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
February 16, 2000
Mr. Cook (for himself, Mr. Abercrombie, Mr. Baker, Ms. Baldwin, Mr.
Barrett of Wisconsin, Mr. Bartlett of Maryland, Mr. Bilbray, Mr.
Bilirakis, Mr. Bishop, Mr. Blumenauer, Mr. Boehlert, Mrs. Bono, Ms.
Brown of Florida, Mr. Calvert, Mr. Cannon, Mr. Chambliss, Mrs.
Christensen, Mr. Condit, Mr. Cooksey, Mr. Crowley, Mr. Cummings, Mr.
Cunningham, Ms. Danner, Mr. Davis of Virginia, Mr. Deal of Georgia,
Mr. DeLay, Mr. Deutsch, Mr. Dicks, Mr. Doolittle, Ms. Dunn, Mr. Ehlers,
Mr. Engel, Mr. English, Ms. Eshoo, Mr. Ewing, Mr. Faleomavaega, Mr.
Farr of California, Mr. Filner, Mrs. Fowler, Mr. Frelinghuysen, Mr.
Gibbons, Mr. Gilman, Mr. Gonzalez, Mr. Graham, Mr. Greenwood, Mr. Hall
of Ohio, Mr. Hansen, Mr. Herger, Mr. Hill of Montana, Mr. Hinchey, Mr.
Holden, Mr. Holt, Mr. Houghton, Mr. Hutchinson, Mr. Jackson of
Illinois, Mr. Jones of North Carolina, Mrs. Kelly, Mr. Kingston, Mr.
Kolbe, Mr. Lampson, Mr. Lantos, Mr. LaTourette, Ms. Lee, Mr. Lewis of
California, Mr. LoBiondo, Ms. Lofgren, Mr. Manzullo, Mr. Matsui, Mr.
McCollum, Mr. McGovern, Mr. McKeon, Mr. McNulty, Mr. Meeks of New York,
Mr. Metcalf, Ms. Millender-McDonald, Mr. George Miller of California,
Mrs. Morella, Mrs. Myrick, Mrs. Napolitano, Mr. Nethercutt, Mr. Ney,
Ms. Norton, Mr. Norwood, Mr. Ortiz, Mr. Owens, Mr. Oxley, Mr. Packard,
Mr. Peterson of Minnesota, Mr. Peterson of Pennsylvania, Mr. Pombo, Mr.
Radanovich, Mr. Reyes, Mr. Reynolds, Mr. Rodriguez, Mr. Romero-Barcelo,
Mr. Ryun of Kansas, Mr. Salmon, Ms. Sanchez, Mr. Sanders, Mr. Scott,
Mr. Sessions, Mr. Shuster, Mr. Simpson, Ms. Slaughter, Mr. Smith of
Washington, Mr. Stump, Mr. Sweeney, Mrs. Tauscher, Mr. Tauzin, Mr.
Thompson of California, Mr. Thune, Mrs. Thurman, Mr. Towns, Mr. Turner,
Mr. Vento, Mr. Walsh, Mr. Watkins, Mr. Watts of Oklahoma, Mr. Weldon of
Florida, Mr. Wolf, and Mr. Young of Alaska) introduced the following
bill; which was referred to the Committee on Banking and Financial
Services
_______________________________________________________________________
A BILL
To provide for the minting of commemorative coins to support the 2002
Salt Lake Olympic Winter Games and the programs of the United States
Olympic Committee.
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 ``2002 Winter Olympic Commemorative
Coin Act''.
SEC. 2. COIN SPECIFICATIONS.
(a) Denominations.--The Secretary of the Treasury (hereinafter in
this Act referred to as the ``Secretary'') shall mint and issue the
following coins:
(1) Five dollar gold coins.--Not more than 80,000 $5 coins,
which shall weigh 8.359 grams, have a diameter of 0.850 inches,
and contain 90 percent gold and 10 percent alloy.
(2) One dollar silver coins.--Not more than 400,000 $1
coins, which shall weigh 26.73 grams, have a diameter of 1.500
inches, and contain 90 percent silver and 10 percent copper.
(b) Design.--The design of the coins minted under this Act shall be
emblematic of the participation of American athletes in the 2002
Olympic Winter Games. On each coin there shall be a designation of the
value of the coin, an inscription of the year ``2002'', and
inscriptions of the words ``Liberty'', ``In God We Trust'', ``United
States of America'', and ``E Pluribus Unum''.
(c) Legal Tender.--The coins minted under this Act shall be legal
tender, as provided in section 5103 of title 31, United States Code.
(d) Numismatic Items.--For purposes of section 5134 of title 31,
United States Code, all coins minted under this Act shall be considered
to be numismatic items.
SEC. 3. 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 any available source, including from stockpiles
established under the Strategic and Critical Materials Stock Piling
Act.
SEC. 4. SELECTION OF DESIGN.
The design for the coins minted under this Act shall be--
(1) selected by the Secretary after consultation with--
(A) the Commission of Fine Arts;
(B) the United States Olympic Committee; and
(C) Olympic Properties of the United States--Salt
Lake 2002, L.L.C., a Delaware limited liability company
created and owned by the Salt Lake Organizing Committee
for the Olympic Winter Games of 2002 (hereinafter in
this Act referred to as ``Olympic Properties of the
United States''); 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) Commencement of Issuance.--The Secretary may issue coins minted
under this Act beginning January 1, 2002, except that the Secretary may
initiate sales of such coins, without issuance, before such date.
(c) Termination of Minting Authority.--No coins shall be minted
under this Act after December 31, 2002.
SEC. 6. SALE OF COINS.
(a) Sale Price.--Notwithstanding any other provision of law, 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, overhead
expenses, and marketing).
(b) Bulk Sales.--The Secretary shall make bulk sales of the coins
issued under this Act at a reasonable discount.
(c) Prepaid Orders at a Discount.--The Secretary shall accept
prepaid orders for the coins minted under this Act before the issuance
of such coins. Sales under this subsection shall be at a reasonable
discount.
(d) Marketing.--The Secretary, in cooperation with the Olympic
Properties of the United States, shall develop and implement a
marketing program to promote and sell the coins issued under this Act
both within the United States and internationally.
SEC. 7. SURCHARGES.
(a) Surcharge Required.--All sales shall include a surcharge of $35
per coin for the $5 coins and $10 per coin for the $1 coins.
(b) Distribution.--Subject to section 5134(f) of title 31, United
States Code, all surcharges which are received by the Secretary from
the sale of coins issued under this Act shall be promptly paid by the
Secretary as follows:
(1) Salt lake organizing committee for the olympic winter
games of 2002.--One half to the Salt Lake Organizing Committee
for the Olympic Winter Games of 2002 for use in staging and
promoting the 2002 Salt Lake Olympic Winter Games.
(2) United states olympic committee.--One half to the
United States Olympic Committee for use by the Committee for
the objects and purposes of the Committee as established in the
Amateur Sports Act of 1978.
(c) Audits.--Each organization that receives any payment from the
Secretary under this section shall be subject to the audit requirements
of section 5134(f)(2) of title 31, United States Code.
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