[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1914 Introduced in House (IH)]







108th CONGRESS
  1st Session
                                H. R. 1914

    To provide for the issuance of a coin to commemorate the 400th 
                anniversary of the Jamestown settlement.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 1, 2003

 Mrs. Jo Ann Davis of Virginia (for herself, Mr. Schrock, Mr. Scott of 
 Virginia, Mr. Forbes, Mr. Goode, Mr. Goodlatte, Mr. Cantor, Mr. Moran 
  of Virginia, Mr. Boucher, Mr. Wolf, Mr. Tom Davis of Virginia, Mr. 
  Abercrombie, and Mr. Farr) introduced the following bill; which was 
            referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
    To provide for the issuance of a coin to commemorate the 400th 
                anniversary of the Jamestown settlement.

    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 ``Jamestown 400th Anniversary 
Commemorative Coin Act of 2003''.

SEC. 2. FINDINGS.

    The Congress makes the following findings:
            (1) The founding of the colony at Jamestown, Virginia, in 
        1607, the first permanent English colony in America, and the 
        capital of Virginia for 92 years, has major significance in the 
        history of the United States.
            (2) The Jamestown Settlement brought people from throughout 
        the Atlantic Basin together to form a society that drew upon 
        the strengths and characteristics of English, European, 
        African, and Native American cultures.
            (3) The economic, political, religious, and social 
        institutions that developed during the first 9 decades of the 
        existence of Jamestown continue to have profound effects on the 
        United States, particularly in English common law and language, 
        cross cultural relationships, manufacturing, and economic 
        structure and status.
            (4) The National Park Service, the Association for the 
        Preservation of Virginia Antiquities, and the Jamestown-
        Yorktown Foundation of the Commonwealth of Virginia 
        collectively own and operate significant resources related to 
        the early history of Jamestown.
            (5) In 2000, Congress established the Jamestown 400th 
        Commemoration Commission to ensure a suitable national 
        observance of the Jamestown 2007 anniversary and to support and 
        facilitate marketing efforts for a commemorative coin, stamp, 
        and related activities for the Jamestown 2007 observances.
            (6) A commemorative coin will bring national and 
        international attention to the lasting legacy of Jamestown, 
        Virginia.
            (7) The proceeds from a surcharge on the sale of such 
        commemorative coin will assist the financing of a suitable 
        national observance in 2007 of the 400th anniversary of the 
        founding of Jamestown, Virginia.

SEC. 2. COIN SPECIFICATIONS.

    (a) Denominations.--The Secretary of the Treasury (hereafter in 
this Act referred to as the ``Secretary) shall mint and issue the 
following coins:
            (1) $5 gold coins.--Not more than 100,000 5 dollar coins, 
        which shall--
                    (A) weigh 8.359 grams;
                    (B) have a diameter of 0.850 inches; and
                    (C) contain 90 percent gold and 10 percent alloy.
            (2) $1 silver coins.--Not more than 500,000 1 dollar coins, 
        which shall--
                    (A) weigh 26.73 grams;
                    (B) have a diameter of 1.500 inches; and
                    (C) 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 sections 5134 and 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 gold and silver for minting coins under 
this Act pursuant to the authority of the Secretary under other 
provisions of law.

SEC. 4. DESIGN OF COINS.

    (a) Design Requirements.--
            (1) In general.--The design of the coins minted under this 
        Act shall be emblematic of the settlement of Jamestown, 
        Virginia, the first permanent English settlement in America.
            (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 ``2007''; 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--
                    (A) the Jamestown 2007 Steering Committee, created 
                by the Jamestown-Yorktown Foundation of the 
                Commonwealth of Virginia;
                    (B) the National Park Service; and
                    (C) the Commission of Fine Arts; and
            (2) reviewed by the citizens advisory committee established 
        under section 5135 of title 31, United States Code.

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 combination of denomination and 
quality of the coins minted under this Act.
    (c) Period for Issuance.--The Secretary may issue coins minted 
under this Act only during the period beginning on January 1, 2007, and 
ending on December 31, 2007.

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.--
            (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.

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) Programs to promote understanding of the legacies of 
        jamestown.--\1/2\ of the surcharges shall be used to support 
        programs to promote the understanding of the legacies of 
        Jamestown and for such purpose shall be paid to the Jamestown-
        Yorktown Foundation of the Commonwealth of Virginia.
            (2) Other purposes for surcharges.--
                    (A) In general.--\1/2\ of the surcharges shall be 
                used for the following purposes:
                            (i) To sustain the ongoing mission of 
                        preserving Jamestown.
                            (ii) To enhance national and international 
                        educational programs relating to Jamestown, 
                        Virginia.
                            (iii) To improve infrastructure and 
                        archaeological research activities relating to 
                        Jamestown, Virginia.
                            (iv) To conduct other programs to support 
                        the commemoration of the 400th anniversary of 
                        the settlement of Jamestown, Virginia.
                    (B) Recipients of surcharges for such other 
                purposes.--The surcharges referred to in subparagraph 
                (A) shall be distributed by the Secretary in equal 
                shares to the following organizations for the purposes 
                described in such subparagraph:
                            (i) The Secretary of the Interior.
                            (ii) The Association for the Preservation 
                        of Virginia Antiquities.
                            (iii) The Jamestown-Yorktown Foundation of 
                        the Commonwealth of Virginia
    (c) Audits.--The Jamestown-Yorktown Foundation of the Commonwealth 
of Virginia, the Secretary of the Interior, and the Association for the 
Preservation of Virginia Antiquities shall each be subject to the audit 
requirements of section 5134(f)(2) of title 31, United States Code.
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