[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. 5112 Introduced in Senate (IS)]
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117th CONGRESS
2d Session
S. 5112
To require the Secretary of the Treasury to mint coins in commemoration
of the 250th Anniversary of the United States Marine Corps, and to
support programs at the Marine Corps Heritage Center.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
November 16, 2022
Mr. Blumenthal (for himself, Mr. Sullivan, Mr. Wicker, Mr. Rounds, and
Mr. Young) 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 250th Anniversary of the United States Marine Corps, and to
support programs at the Marine Corps Heritage Center.
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 ``250th Anniversary of the United
States Marine Corps Commemorative Coin Act''.
SEC. 2. FINDINGS.
The Congress finds the following:
(1) November 10, 2025, marks the 250th anniversary of the
United States Marine Corps.
(2) The United States Marine Corps has, over the course of
its illustrious 250-year history, fought gallantly in defense
of the United States.
(3) The United States Marine Corps has established itself
as a leading military force, always prepared for tomorrow's
challenges and to contend with the future character of war.
(4) The United States Marine Corps continues to exemplify
the warrior ethos that has made it a fighting force of
international repute.
(5) All Americans should commemorate the legacy of the
United States Marine Corps and recognize the significant
contributions the values embodied in the Corps have made in
protecting the United States against its enemies.
(6) In 2000, Congress authorized the construction of the
Marine Corps Heritage Center as a multipurpose facility for
historical displays for the public viewing, curation and
storage of artifacts, research facilities, classrooms, offices
and associated activities consistent with the mission of the
Marine Corps.
(7) On November 10, 2006, the Marine Corps Heritage Center
opened to the public, with exhibits that share the history of
the Marine Corps from 1775 until 1975, and with planned future
exhibits on modern day Marine Corps history from the end of the
Vietnam War through the wars in Iraq and Afghanistan.
(8) The United States should pay tribute to the 250th
anniversary of the United States Marine Corps by minting and
issuing a commemorative coin.
(9) The surcharge proceeds from the sale of a commemorative
coin, which would have no net costs to the taxpayers, would
raise valuable funding for the continuation of educational
programs of the Marine Corps Heritage Center.
SEC. 3. 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 50,000 $5 coins, which
shall--
(A) weigh 8.359 grams;
(B) have a diameter of 0.850 inches; and
(C) contain not less than 90 percent gold.
(2) $1 silver coins.--Not more than 400,000 $1 coins, which
shall--
(A) weigh 26.73 grams;
(B) have a diameter of 1.500 inches; and
(C) contain not less than 90 percent silver.
(3) Half-dollar clad coins.--Not more than 750,000 half-
dollar coins which shall--
(A) weigh 11.34 grams;
(B) have a diameter of 1.205 inches; and
(C) be minted to the specifications for half-dollar
coins contained in section 5112(b) of title 31, United
States Code.
(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. 4. DESIGN OF COINS.
(a) Design Requirements.--The designs of the coins minted under
this Act shall be emblematic of the 250th anniversary of the United
States Marine Corps.
(b) Designation and Inscriptions.--On each coin minted under this
Act there shall be--
(1) a designation of the value of the coin;
(2) an inscription of the year ``2025''; and
(3) inscriptions of the words ``Liberty'', ``In God We
Trust'', ``United States of America'', and ``E Pluribus Unum''.
(c) Selection.--The design for the coin minted under this Act shall
be--
(1) selected by the Secretary after consultation with the
Commission of Fine Arts, the Commandant of the Marine Corps,
and the Marine Corps Heritage Foundation; and
(2) reviewed by the Citizens Coinage 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) Mint Facility.--Any facility of the United States Mint may be
used to strike any particular quality of the coins minted under this
Act.
(c) Period for Issuance.--The Secretary may issue coins minted
under this Act only during the 1-year period beginning on January 1,
2025.
SEC. 6. 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 7(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. 7. SURCHARGES.
(a) In General.--All sales of coins issued under this Act shall
include a surcharge of--
(1) a surcharge of $35 per coin for the $5 coin;
(2) a surcharge of $10 per coin for the $1 coin; and
(3) a surcharge of $5 per coin for the half dollar coin.
(b) Distribution.--Subject to section 5134(f)(1) 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 Marine Corps Heritage Foundation and shall only be
used for the purposes of supporting the mission of the Marine Corps
Heritage Center.
(c) Audits.--The Marine Corps Heritage 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 under subsection (b).
(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.
SEC. 8. FINANCIAL ASSURANCES.
The Secretary shall take such actions as may be necessary to ensure
that--
(1) minting and issuing coins under this Act result in no
net cost to the Federal Government; and
(2) no funds, including applicable surcharges, are
disbursed to the Marine Corps Heritage Foundation until the
total cost of designing and issuing all of the coins authorized
by this Act, including labor, materials, dies, use of
machinery, overhead expenses, marketing, and shipping, is
recovered by the United States Treasury, consistent with
sections 5112(m) and 5134(f) of title 31, United States Code.
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