II 109th CONGRESS 1st Session S. 1639 IN THE SENATE OF THE UNITED STATES September 8, 2005 Mr. Stevens (for himself, Mr. Baucus, Mr. Inouye, Mr. Grassley, Mr. Thomas, Ms. Murkowski, Ms. Mikulski, Mr. Domenici, Mr. Cochran, and Mrs. Feinstein) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To require the Secretary of the Treasury to mint coins in commemoration of the founding of America’s National Parks, and for other purposes.

1.

Short title

This Act may be cited as the National Park Anniversaries-Great American Spaces Commemorative Coin Act.

2.

Findings

The Congress finds the following: (1)The National Park Foundation is the congressionally-chartered nonprofit partner of America's National Parks. (2)The mission of the National Park Foundation is to strengthen the enduring connection between the American people and their National Parks by raising private funds, making strategic grants, creating innovative partnerships, and increasing public awareness of National Parks. (3)The parks represented in this program represent some of the most beloved and treasured National Parks in America. (4)The National Park Service was established in 1916, to preserve and protect great scenic parks such as Grand Canyon National Park and Yosemite National Park, and to manage battlefields such as Gettysburg National Military Park and historical sites such as the Lincoln Memorial. (5)Theodore Roosevelt said that nothing short of defending this country in wartime compares in importance with the great task of leaving this land even a better land for our descendants than it is for us. (6)National Parks established under the presidency of Theodore Roosevelt, such as Grand Canyon National Park and Devils Tower National Monument, are the embodiment of that ideal.

3.

Coin specifications

(a)

$1 silver coins for national parks observing historic anniversaries of their founding

The Secretary of the Treasury (in this Act referred to as the Secretary) shall mint and issue not more than 300,000 $1 coins for each of the National Parks specified in section 4(c), 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 sections 5134 and 5136 of title 31, United States Code, all coins minted under this Act shall be considered to be numismatic items.

4.

Design of coins

(a)

Design requirements

(1)

In general

The design of the coins minted under this Act shall be developed in consultation with the National Park Foundation, and shall be emblematic of the National Park being commemorated on each coin. (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 in which the coin is minted; and (C)inscriptions of the words Liberty, In God We Trust, United States of America, and E Pluribus Unum. (b)

Design 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 the National Park Foundation; and (2)reviewed by the Citizens Coinage Advisory Committee established under section 5135 of title 31, United States Code. (c)

National parks To Be commemorated

The National Parks to be commemorated in accordance with this Act, the year of commemoration, and the anniversary to be observed are as follows: Year of IssuanceNational Park or Park ServiceAnniversary 2007Devils Tower National Monument 100th 2008Grand Canyon National Park 100th 2010Glacier National Park 100th 2011Lincoln Memorial100th 2015Yosemite National Park 125th 2015Rocky Mountain National Park 100th 2016National Park Service100th 2017Denali National Park 100th 2018Acadia National Park 100th 2019Zion National Park100th 2020Gettysburg National Military Park125th

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 of the year of issuance, as specified in section 4(c), except that the Secretary may initiate sales of such coins, without issuance, before such date. (d)

Termination of minting authority

No coins shall be minted under this Act after December 31 of the year of issuance specified in section 4(c).

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

(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)

Sales of single coins and sets of coins

Coins of each design specified under section 4(c) may be sold separately or as a set containing other coins authorized by this Act.

7.

Surcharges

(a)

Surcharge required

All sales of coins issued under this Act shall include a surcharge of $10 per coin. (b)

Distribution

Subject to section 5134(f) of title 31, United States Code, all surcharges received by the Secretary from the sale of coins issued under this Act shall be promptly paid by the Secretary to the National Park Foundation for use as follows: (1)50 percent of the surcharges received shall be used by the National Park Foundation in support of all National Parks. (2)50 percent of the surcharges received shall be used by the National Park Foundation for the benefit of the National Parks designated in section 4(c) (in addition to any amount allocable to any such Park from expenditures of amounts under paragraph (1)). (c)

Audits

The National Park Foundation 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 Foundation under subsection (b).

8.

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.