[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4259 Enrolled Bill (ENR)]

        H.R.4259

                       One Hundred Sixth Congress

                                 of the

                        United States of America


                          AT THE SECOND SESSION

           Begun and held at the City of Washington on Monday,
             the twenty-fourth day of January, two thousand


                                 An Act


 
To require the Secretary of the Treasury to mint coins in commemoration 
    of the National Museum of the American Indian of the Smithsonian 
                  Institution, 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 ``National Museum of the American 
Indian Commemorative Coin Act of 2000'', or the ``American Buffalo Coin 
Commemorative Coin Act of 2000''.

SEC. 2. FINDINGS.

    Congress finds the following:
        (1) The Smithsonian Institution was established in 1846, with 
    funds bequeathed to the United States by James Smithson for the 
    ``increase and diffusion of knowledge''.
        (2) Once established, the Smithsonian Institution became an 
    important part of the process of developing the United States 
    national identity, an ongoing role which continues today.
        (3) The Smithsonian Institution, which is now the world's 
    largest museum complex, including 16 museums, 4 research centers, 
    and the National Zoo, is visited by millions of Americans and 
    people from all over the world each year.
        (4) The National Museum of the American Indian of the 
    Smithsonian Institution (hereafter referred to in this section as 
    the ``NMAI'') was established by an Act of Congress in 1989, in 
    Public Law 101-185.
        (5) The purpose of the NMAI, as established by Congress, is 
    to--
            (A) advance the study of Native Americans, including the 
        study of language, literature, history, art, anthropology, and 
        life;
            (B) collect, preserve, and exhibit Native American objects 
        of artistic, historical, literary, anthropological, and 
        scientific interest; and
            (C) provide for Native American research and study 
        programs.
        (6) The NMAI works in cooperation with Native Americans and 
    oversees a collection that spans more than 10,000 years of American 
    history.
        (7) It is fitting that the NMAI will be located in a place of 
    honor near the United States Capitol, and on the National Mall.
        (8) Thousands of Americans, including many American Indians, 
    came from all over the Nation to witness the ground-breaking 
    ceremony for the NMAI on September 28, 1999.
        (9) The NMAI is scheduled to open in the summer of 2002.
        (10) The original 5-cent buffalo nickel, as designed by James 
    Earle Fraser and minted from 1913 through 1938, which portrays a 
    profile representation of a Native American on the obverse side and 
    a representation of an American buffalo on the reverse side, is a 
    distinctive and appropriate model for a coin to commemorate the 
    NMAI.
        (11) The surcharge proceeds from the sale of a commemorative 
    coin, which would have no net cost to the taxpayers, would raise 
    valuable funding for the opening of the NMAI and help to supplement 
    the endowment and educational outreach funds of the NMAI.

SEC. 3. COIN SPECIFICATIONS.

    (a) $1 Silver Coins.--In commemoration of the opening of the Museum 
of the American Indian of the Smithsonian Institution, the Secretary of 
the Treasury (hereafter in this Act referred to as the ``Secretary'') 
shall mint and issue not more than 500,000 $1 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.

SEC. 4. SOURCES OF BULLION.

    The Secretary may obtain silver for minting coins under this Act 
from any available source, including stockpiles established under the 
Strategic and Critical Materials Stock Piling Act.

SEC. 5. DESIGN OF COINS.

    (a) Design Requirements.--
        (1) In general.--The design of the $1 coins minted under this 
    Act shall be based on the original 5-cent buffalo nickel designed 
    by James Earle Fraser and minted from 1913 through 1938. Each coin 
    shall have on the obverse side a profile representation of a Native 
    American, and on the reverse side, a representation of an American 
    buffalo (also known as a bison).
        (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 ``2001''; 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 
    Commission of Fine Arts; and
        (2) reviewed by the Citizens Commemorative Coin Advisory 
    Committee.

SEC. 6. ISSUANCE OF COINS.

    (a) Quality of Coins.--Coins minted under this Act shall be issued 
in uncirculated and proof qualities.
    (b) Mint Facility.--
        (1) In general.--Only one facility of the United States Mint 
    may be used to strike any particular quality of the coins minted 
    under this Act.
        (2) Sense of the congress.--It is the sense of the Congress 
    that the United States Mint facility in Denver, Colorado should 
    strike the coins authorized by this Act, unless the Secretary 
    determines that such action would be technically or cost-
    prohibitive.
    (c) Commencement of Issuance.--The Secretary may issue coins minted 
under this Act beginning on January 1, 2001.
    (d) Termination of Minting.--No coins may be minted under this Act 
after December 31, 2001.

SEC. 7. 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 required by 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 of coins minted under this Act shall 
include a surcharge of $10 per coin.

SEC. 8. DISTRIBUTION OF SURCHARGES.

    (a) In General.--Subject to section 5134(f) of title 31, United 
States Code, the proceeds from the surcharges received by the Secretary 
from the sale of coins issued under this Act shall be paid promptly by 
the Secretary to the National Museum of the American Indian of the 
Smithsonian Institution for the purposes of--
        (1) commemorating the opening of the National Museum of the 
    American Indian; and
        (2) supplementing the endowment and educational outreach funds 
    of the Museum of the American Indian.
    (b) Audits.--The National Museum of the American Indian shall be 
subject to the audit requirements of section 5134(f)(2) of title 31, 
United States Code, with regard to the amounts received by the museum 
under subsection (a).

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, the deposits of which are insured by 
    the Federal Deposit Insurance Corporation or the National Credit 
    Union Administration Board.

                               Speaker of the House of Representatives.

                            Vice President of the United States and    
                                               President of the Senate.