Short title

This Act may be cited as the

United Negro College Fund, Inc. Congressional Gold Medal Act

Findings

Congress finds the following:(1)Historically Black Colleges and Universities (referred to in this Act as HBCUs) were established during a time when African Americans seeking to further their education was a dangerous undertaking and illegal in many areas of the United States.(2)HBCUs initially educated the progeny of slaves, and the graduates of those institutions have been impactful as 80 percent of all African-American judges, 80 percent of all African-American doctors and dentists, 50 percent of all African-American lawyers, 50 percent of all African-American professors, 50 percent of all African-American public school teachers, 40 percent of all African-American Members of Congress, and 40 percent of all African-American engineers, while educating only 10 percent of all African-American students in higher education.(3)According to a United Negro College Fund, Inc. (referred to in this Act as the UNCF) study, the annual economic impact of HBCUs is over $14,800,000,000 a year, the institutions generate 134,090 jobs for their local and regional economies, and 1 annual class of HBCU graduates constitutes over 50,000 graduates with a lifetime earnings of $130,000,000,000, 56 percent higher than what they could have expected to earn without their HBCU college credentials.(4)The UNCF, established in 1944, is the premiere fundraising and scholarship organization in assistance of HBCUs and African-American students.(5)In its 80 years of existence, the UNCF has raised over 7,000,000,000 in private donations for HBCUs and African-American students.(6)On an annual basis, the UNCF awards $100,000,000 in scholarships to 10,000 students at hundreds of colleges and universities.(7)UNCF also provides grants to its members, which include: Miles College, Oakwood University, Stillman College, Talladega College, Tuskegee University, Philander Smith College, Bethune-Cookman University, Edward Waters University, Florida Memorial University, Clark Atlanta University, Interdominational Theological Center, Morehouse College, Paine College, Spelman College, Dillard University, Xavier University of Louisiana, Rust College, Tougaloo College, Bennett College, Johnson C. Smith University, Livingstone College, Saint Augustine University, Shaw University, Wilberforce University, Allen University, Benedict College, Claflin University, Morris College, Voorhees College, Fisk University, Lane College, Huston-Tillotson University, Jarvis Christian College, Texas College, Wiley College, and Virginia Union University. The fundraising efforts of the UNCF also positively impact each HBCU and African-American student at many non-HBCU institutions.(8)The iconic motto of the UNCF, A Mind is Terrible Thing to Waste, is commonly known throughout the lexicon in the United States and reminds us as a nation to strive for our individual fullest ability and the highest national ideals through philanthropy and achievement.

Congressional gold medal

(a)

Presentation authorized

The Speaker of the House of Representatives and the President pro tempore of the Senate shall make appropriate arrangements for the presentation, on behalf of Congress, of a gold medal of appropriate design to the UNCF and the institutions that make up its membership.(b)

Design and striking

For purposes of the presentation described in subsection (a), the Secretary of the Treasury (referred to in this Act as the Secretary) shall strike the gold medal with suitable emblems, devices, and inscriptions, to be determined by the Secretary.

Duplicate medals

The Secretary may strike and sell duplicates in bronze of the gold medal struck pursuant to section 3, at a price sufficient to cover the costs of the medals, including labor, materials, dies, use of machinery, and overhead expenses.

Sense of Congress

It is the sense of the Congress that the United States Mint should expedite production of the gold medal and duplicate medals under this Act, so that the UNCF and its member-institutions can be recognized in a timely manner for its 80th anniversary.

Status of medals

(a)

National medals

The medals struck under this Act are national medals for purposes of chapter 51 of title 31, United States Code.(b)

Numismatic items

For purposes of sections 5134 and 5136 of title 31, United States Code, all medals struck under this Act shall be considered to be numismatic items.

Authority to use fund amounts; proceeds of sale

(a)

Authority To use fund amounts

There is authorized to be charged against the United States Mint Public Enterprise Fund such amounts as may be necessary to pay for the costs of the medals struck under this Act.(b)

Proceeds of sale

Amounts received from the sale of duplicate bronze medals authorized under section 4 shall be deposited into the United States Mint Public Enterprise Fund.