[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 497 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 497

To require the Secretary of the Treasury to mint coins in commemoration 
   of Ronald Wilson Reagan, the 40th President of the United States.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 26, 2011

 Mr. Latta (for himself, Mr. McClintock, Mr. Lewis of California, Mr. 
 Austria, Mr. Burton of Indiana, Mr. Scalise, Mr. Rogers of Kentucky, 
Mr. Calvert, Mr. Jones, Mr. Daniel E. Lungren of California, Mr. Wolf, 
 Mr. Frelinghuysen, Mr. Grimm, Mr. Chabot, Mr. Crawford, Mr. Franks of 
Arizona, Mr. Gingrey of Georgia, Mr. Issa, Mr. Fleming, Mr. Herger, Mr. 
  Wilson of South Carolina, Mr. Roe of Tennessee, Mr. Brady of Texas, 
 Mrs. Blackburn, Mr. Marchant, Mr. Flores, Mr. Lamborn, and Mr. Posey) 
 introduced the following bill; which was referred to the Committee on 
                           Financial Services

_______________________________________________________________________

                                 A BILL


 
To require the Secretary of the Treasury to mint coins in commemoration 
   of Ronald Wilson Reagan, the 40th President of the United States.

    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 ``Ronald Reagan Commemorative Coin Act 
of 2011''.

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 coin.--Not more than 50,000 $5 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 coin.--Not more than 300,000 $1 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. DESIGN OF COINS.

    (a) Design Requirements.--
            (1) In general.--The design of the coins minted under this 
        Act shall--
                    (A) bear an image of former President Ronald Wilson 
                Reagan and a reference to his 100th birthday in 2011 on 
                the obverse side; and
                    (B) bear a design on the reverse side that is 
                similar to the depiction of an American eagle carrying 
                an olive branch, flying above a nest containing another 
                eagle and hatchlings.
            (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 ``2017''; 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
            (2) reviewed by the Citizens Commemorative Coin Advisory 
        Committee.

SEC. 4. 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 on January 1, 2017, 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, 2017.

SEC. 5. 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 provided in section 6(a) 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.

SEC. 6. SURCHARGES.

    (a) In General.--All sales of coins minted under this Act shall 
include a surcharge as follows:
            (1) A surcharge of $35 per coin for the $5 coin.
            (2) A surcharge of $10 per coin for the $1 coin.
    (b) Distribution.--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 Army Emergency Relief to be used by the Army 
Emergency Relief for the purposes of providing financial assistance to 
any of the following individuals:
            (1) An individual who is an Army active duty soldier, 
        single or married, or a dependent of such a soldier.
            (2) A member of the Army National Guard or Army Reserve on 
        continuous active duty under title 10, United States Code, for 
        more than 30 consecutive days, or a dependent of such a member.
            (3) A soldier retired from active duty because of longevity 
        or physical disability, including any Army National Guard or 
        Army Reserve soldier who is in receipt of Army retired pay, or 
        any authorized dependent of such soldier.
            (4) A surviving spouse or dependent child of a soldier who 
        died while on active duty or after retirement.
    (c) Audits.--The Army Emergency Relief shall be subject to the 
audit requirements of section 5134(f)(2) of title 31, United States 
Code, with regard to such funds.
    (d) Limitation.--Notwithstanding subsection (a), no surcharge may 
be included with respect to the issuance under this Act of any coin 
during a calendar year if, as of the time of such issuance, the 
issuance of such coin would result in the number of commemorative coin 
programs issued during such year to exceed the annual 2 commemorative 
coin program issuance limitation under section 5112(m)(1) of title 31, 
United States Code (as in effect on the date of the enactment of this 
Act). The Secretary of the Treasury may issue guidance to carry out 
this subsection.
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