[Congressional Record Volume 145, Number 103 (Tuesday, July 20, 1999)]
[Senate]
[Pages S8875-S8876]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. TORRICELLI (for himself and Mr. Lautenberg):
  S. 1394. A bill to require the Secretary of the Treasury to mint 
coins in commemoration of the U.S.S. New Jersey, and for other 
purposes; to the Committee on Banking, Housing, and Urban Affairs.


              U.S.S. ``NEW JERSEY'' COMMEMORATIVE COIN ACT

 Mr. TORRICELLI. Mr. President, I rise today to introduce 
legislation that will assist with the financial costs of relocating the 
Battleship U.S.S. New Jersey to a place of honored retirement in her 
namesake state. After fifty-six years of service to our Nation, this 
proud ship is ready to serve America in a new and invaluable role as an 
educational museum and historic center.
  The U.S.S. New Jersey is believed to be the most decorated warship in 
the annals of the U.S. Navy, with sixteen battle stars and thirteen 
other ribbons and medals. She is one of the four battleships of the 
45,000 ton Iowa class, which are the largest, fastest and most powerful 
we ever built. Beyond her imposing size and physical characteristics 
though, the New Jersey has an unmatched record of service to her 
country.
  With the easing of world tensions, the battleship was decommissioned 
in February of 1991 and she now lays in reserve, ready, but destined 
never to sail again. In January 1995, the New Jersey was stricken by 
the Navy, meaning that she was available to become a museum. For 24 
years, the people of New Jersey have been organizing at the grass roots 
level to prepare for the eventual return to the ship.
  Mr. President, the legislation I am introducing will authorize the 
Secretary of the Treasury to mint silver coins commemorating the U.S.S. 
New Jersey. Millions of dollars have already been raised through the 
purchase of Battleship License Plates, an annual Tax Check Off and 
contributions by many of New Jersey's leading civic and business 
organizations. The issuance of a U.S.S. New Jersey coin will add to 
these efforts and help commemorate this national treasure.
  Mr. President, I ask that the text of bill be printed in the Record.
  The bill follows:

                                S. 1394

       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 ``U.S.S. New Jersey 
     Commemorative Coin Act''.

     SEC. 2. FINDINGS.

       Congress finds the following:
       (1) The U.S.S. New Jersey was launched December 7, 1942, 
     the start of nearly 50 years of dedicated service to our 
     Nation prior to final decommissioning in 1991.
       (2) After commissioning, the U.S.S. New Jersey was sent to 
     the Pacific, and played a key role in operations in the 
     Marshalls, Marianas, Carolines, Philippines, Iwo Jima, and 
     Okinawa, with a particular highlight being the U.S.S. New 
     Jersey's service as the flagship for Commander 3d Fleet, 
     Admiral William ``Bull'' Halsey, during the Battle of Leyte 
     Gulf in October 1944.
       (3) After the Allied victory in World War II, the U.S.S. 
     New Jersey was deactivated in 1948 until being called to 
     service for the second time, in November 1950.
       (4) The U.S.S. New Jersey served two tours in the Western 
     Pacific during the Korean War, serving as flagship for 
     Commander 7th Fleet.
       (5) After her valiant service during the Korean War, the 
     U.S.S. New Jersey was again mothballed in 1957, only to be 
     re-activated again in 1968 to serve as the only active-duty 
     Navy battleship.
       (6) The U.S.S. New Jersey served a successful tour during 
     the Vietnam conflict, providing critical major-caliber fire 
     support for friendly troops, before again being 
     decommissioned in December 1969.
       (7) The U.S.S. New Jersey's service to our country did not 
     end with the Vietnam conflict, as she was again called to 
     active duty status in December 1982 and provided a show of 
     strength off the coast of Nicaragua, in Central America in 
     1983.
       (8) The Navy again called upon the U.S.S. New Jersey to 
     provide critical support by sending her to the Mediterranean 
     in 1983 to provide critical fire support to Marines in 
     embattled Beirut, Lebanon.
       (9) The U.S.S. New Jersey continued to serve the Navy in a 
     variety of roles, including regular deployments in the 
     Western Pacific.
       (10) The U.S.S. New Jersey was decommissioned for the 
     fourth and final time in February 1991.
       (11) In 1998 Congress passed legislation to decommission 
     the U.S.S. New Jersey and permanently berth her in the State 
     of New Jersey.
       (12) The State has strongly endorsed bringing the U.S.S. 
     New Jersey home, and has issued commemorative license plates 
     and taken other steps to raise funds for the costs of 
     relocating the U.S.S. New Jersey.
       (13) The New Jersey congressional delegation is united in 
     its support for bringing the U.S.S. New Jersey home to New 
     Jersey.

     SEC. 3. COIN SPECIFICATIONS.

       (a) Denomination.--In commemoration of the U.S.S. New 
     Jersey, the Secretary of the Treasury (hereafter in this Act 
     referred to as the ``Secretary'') shall mint and issue not 
     more than 500,000 $1 coins, 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 section 5136 of 
     title 31, United States Code, all coins minted under this Act 
     shall be considered to be numismatic items.

     SEC. 4. SOURCES OF BULLION.

       The Secretary may obtain silver for minting coins under 
     this Act from any available source, including stockpiles 
     established under the Strategic and Critical Materials Stock 
     Piling Act.

     SEC. 5. DESIGN OF COINS.

       (a) Design Requirements.--
       (1) In general.--The design of the coins minted under this 
     Act shall be emblematic of service of the U.S.S. New Jersey.
       (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 ``2002''; and
       (C) inscriptions of the words ``Liberty'', ``In God We 
     Trust'', ``United States of America'', and ``E Pluribus 
     Unum''.
       (3) Obverse of coin.--The obverse of each coin minted under 
     this Act shall bear the likeness of the U.S.S. New Jersey.
       (4) General design.--In designing this coin, the Secretary 
     shall also consider incorporating appropriate elements from 
     the tenure of service of the U.S.S. New Jersey in the Navy.
       (b) Selection.--The design for the coins minted under this 
     Act shall be selected by the Secretary after consultation 
     with the Commission of Fine Arts and shall be reviewed by the 
     Citizens Commemorative Coin Advisory Committee.

     SEC. 6. ISSUANCE OF COINS.

       (a) Quality of Coins.--Coins minted under this Act shall be 
     issued in uncirculated and proof qualities.
       (b) Mint Facility.--Only one 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 period beginning on 
     January 1, 2002, and ending on December 31, 2002.

     SEC. 7. 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 subsection (d) 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.

[[Page S8876]]

       (2) Discount.--Sale prices with respect to prepaid orders 
     under paragraph (1) shall be at a reasonable discount.
       (d) Surcharges.--All sales of coins minted under this Act 
     shall include a surcharge of $10 per coin.

     SEC. 8. DISTRIBUTION OF SURCHARGES.

       (a) In General.--Subject to section 5134(f) of title 31, 
     United States Code, 10 percent of the proceeds from the 
     surcharges received by the Secretary from the sale of coins 
     issued under this Act shall be promptly paid by the Secretary 
     to the U.S.S. New Jersey Battleship Foundation in Middletown, 
     New Jersey, for activities associated with the costs of 
     moving the U.S.S. New Jersey and permanently berthing her in 
     her new location.
       (b) Audits.--The U.S.S. New Jersey Battleship Foundation 
     shall be subject to the audit requirements of section 
     5134(f)(2) of title 31, United States Code.
                                 ______