[Congressional Record Volume 150, Number 130 (Monday, October 11, 2004)]
[Senate]
[Pages S11325-S11326]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




       AMERICAN VETERANS DISABLED FOR LIFE COMMEMORATIVE COIN ACT

  Mr. FRIST. Mr. President, I ask unanimous consent that the Senate now 
proceed to the immediate consideration of Calendar No. 778, S. 1379.
  The PRESIDING OFFICER. The clerk will report the bill by title.
  The legislative clerk read as follows:

       A bill (S. 1379) to require the Secretary of the Treasury 
     to mint coins in commemoration of veterans who became 
     disabled for life while serving in the Armed Forces of the 
     United States.

  There being no objection, the Senate proceeded to consider the bill 
which had been reported from the Committee on Banking, Housing, and 
Urban Affairs with an amendment to strike all after the enacting clause 
and insert in lieu thereof the following:
  [Strike parts shown in black brackets and insert parts shown in 
italic]

                                S. 1379

       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 ``American Veterans Disabled 
     for Life Commemorative Coin Act''.

     [SEC. 2. FINDINGS.

       [Congress finds that--
       [(1) the armed forces of the United States have answered 
     the call and served with distinction around the world--from 
     hitting the beaches in World War II in the Pacific and 
     Europe, to the cold and difficult terrain in Korea, the 
     steamy jungles of Vietnam, and the desert sands of the Middle 
     East;
       [(2) all Americans should commemorate those who come home 
     having survived the ordeal of war, and solemnly honor those 
     who made the ultimate sacrifice in giving their lives for 
     their country;
       [(3) all Americans should honor the millions of living 
     disabled veterans who carry the scars of war every day, and 
     who have made enormous personal sacrifices defending the 
     principles of our democracy;
       [(4) in 2000, Congress authorized the construction of the 
     American Veterans Disabled for Life Memorial;
       [(5) the United States should pay tribute to the Nation's 
     living disabled veterans by minting and issuing a 
     commemorative silver dollar coin; and
       [(6) the surcharge proceeds from the sale of a 
     commemorative coin would raise valuable funding for the 
     construction of the American Veterans Disabled for Life 
     Memorial.

     [SEC. 3. COIN SPECIFICATIONS.

       [(a) $1 Silver Coins.--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 in 
     commemoration of disabled American veterans, 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 5134 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 shall obtain silver for minting coins under 
     this Act only from 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 the design selected by the 
     Disabled Veterans' LIFE Memorial Foundation for the American 
     Veterans Disabled for Life Memorial.
       [(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 ``2006''; and
       [(C) inscriptions of the words ``Liberty'', ``In God We 
     Trust'', ``United States of America'', and ``E Pluribus 
     Unum''.
       [(b) Selection.--The design for the coins minted under this 
     Act shall be--
       [(1) selected by the Secretary, after consultation with the 
     Disabled Veterans' LIFE Memorial Foundation and the 
     Commission of Fine Arts; and
       [(2) reviewed by the Citizens Coinage 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 1 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 
     under this Act only during the calendar year beginning on 
     January 1, 2006.

     [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) Surcharges.--All sales of coins issued under this Act 
     shall include a surcharge of $10 per coin.
       [(c) Bulk Sales.--The Secretary shall make bulk sales of 
     the coins issued under this Act at a reasonable discount.
       [(d) 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. 8. DISTRIBUTION OF SURCHARGES.

       [(a) In General.--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 paid to 
     the Disabled Veterans' LIFE Memorial Foundation for the 
     purpose of establishing an endowment to support the 
     construction of American Veterans' Disabled for Life Memorial 
     in Washington, D.C.
       [(b) Audits.--The Comptroller General of the United States 
     shall have the right to examine such books, records, 
     documents, and other data of the Disabled Veterans' LIFE 
     Memorial Foundation as may be related to the expenditures of 
     amounts paid under subsection (a).

     [SEC. 9. 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 whose deposits are 
     insured by the Federal Deposit Insurance Corporation or the 
     National Credit Union Administration Board.]

     SECTION 1. SHORT TITLE.

       This Act may be cited as the ``American Veterans Disabled 
     for Life Commemorative Coin Act''.

[[Page S11326]]

     SEC. 2. FINDINGS.

       Congress finds that--
       (1) the Armed Forces of the United States have answered the 
     call and served with distinction around the world--from 
     hitting the beaches in World War II in the Pacific and 
     Europe, to the cold and difficult terrain in Korea, the 
     steamy jungles of Vietnam, and the desert sands of the Middle 
     East;
       (2) all Americans should commemorate those who come home 
     having survived the ordeal of war, and solemnly honor those 
     who made the ultimate sacrifice in giving their lives for 
     their country;
       (3) all Americans should honor the millions of living 
     disabled veterans who carry the scars of war every day, and 
     who have made enormous personal sacrifices defending the 
     principles of our democracy;
       (4) in 2000, Congress authorized the construction of the 
     American Veterans Disabled for Life Memorial;
       (5) the United States should pay tribute to the Nation's 
     living disabled veterans by minting and issuing a 
     commemorative silver dollar coin; and
       (6) the surcharge proceeds from the sale of a commemorative 
     coin would raise valuable funding for the construction of the 
     American Veterans Disabled for Life Memorial.

     SEC. 3. COIN SPECIFICATIONS.

       (a) $1 Silver Coins.--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 in 
     commemoration of disabled American veterans, 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 5134 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.--
       (1) In general.--The design of the coins minted under this 
     Act shall be emblematic of the design selected by the 
     Disabled Veterans' LIFE Memorial Foundation for the American 
     Veterans Disabled for Life Memorial.
       (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 ``2006''; and
       (C) inscriptions of the words ``Liberty'', ``In God We 
     Trust'', ``United States of America'', and ``E Pluribus 
     Unum''.

       (b) Selection.--The design for the coins minted under this 
     Act shall be--
       (1) selected by the Secretary, after consultation with the 
     Disabled Veterans' LIFE Memorial Foundation and the 
     Commission of Fine Arts; 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.--Only 1 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 
     under this Act only during the calendar year beginning on 
     January 1, 2006.

     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 subsection (b) 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) Surcharges.--All sales of coins issued under this Act 
     shall include a surcharge of $10 per coin.
       (c) Bulk Sales.--The Secretary shall make bulk sales of the 
     coins issued under this Act at a reasonable discount.
       (d) 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. DISTRIBUTION OF SURCHARGES.

       (a) In General.--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 paid to 
     the Disabled Veterans' LIFE Memorial Foundation for the 
     purpose of establishing an endowment to support the 
     construction of the American Veterans' Disabled for Life 
     Memorial in Washington, D.C.
       (b) Audits.--The Comptroller General of the United States 
     shall have the right to examine such books, records, 
     documents, and other data of the Disabled Veterans' LIFE 
     Memorial Foundation as may be related to the expenditures of 
     amounts paid under subsection (a).

     SEC. 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 whose deposits are 
     insured by the Federal Deposit Insurance Corporation or the 
     National Credit Union Administration Board.

  Mr. FRIST. I ask unanimous consent that the committee substitute 
amendment be agreed to, the bill, as amended, be read a third time and 
passed, the motion to reconsider be laid upon the table en bloc, and 
any statements relating to the bill be printed in the Record.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The committee amendment in the nature of a substitute was agreed to.
  The bill (S. 1379), as amended, was read the third time and passed.

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