[Congressional Record Volume 168, Number 83 (Monday, May 16, 2022)]
[Senate]
[Pages S2515-S2516]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




               GREATEST GENERATION COMMEMORATIVE COIN ACT

  Mr. SCHUMER. Mr. President, I ask unanimous consent that the 
Committee on Banking, Housing, and Urban Affairs be discharged from 
further consideration of S.1596, and the Senate proceed to its 
immediate consideration.
  The PRESIDING OFFICER. The clerk will report the bill by title.
  The senior assistant legislative clerk read as follows:

       A bill (S. 1596) to require the Secretary of the Treasury 
     to mint coins in commemoration of the National World War II 
     Memorial in Washington, DC, and for other purposes.

  There being no objection, the committee was discharged, and the 
Senate proceeded to consider the bill.
  Mr. SCHUMER. I ask unanimous consent that the Rounds-Shaheen 
substitute amendment which is at the desk be considered and agreed to; 
that the bill, as amended, be considered read a third time and passed 
and that the motion to reconsider be considered made and laid upon the 
table.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The amendment (No. 5034), in the nature of a substitute, was agreed 
to, as follows:

                (Purpose: In the nature of a substitute)

        Strike all after the enacting clause and insert the 
     following:

     SECTION 1. SHORT TITLE.

       This Act may be cited as the ``Greatest Generation 
     Commemorative Coin Act''.

     SEC. 2. FINDINGS.

       The Congress finds the following:
       (1) The National World War II Memorial was dedicated in 
     Washington, DC, on May 29, 2004, and is located on the east 
     end of the Reflecting Pool on the National Mall, opposite the 
     Lincoln Memorial and west of the Washington Monument.
       (2) The dedication of the National World War II Memorial 
     was the culmination of a 17-year effort that started on 
     December 10, 1987 when the World War II Memorial Act was 
     first introduced in the House of Representatives, and was 
     authorized by an Act of Congress signed into law on May 25, 
     1993. Construction began September 4, 2001, after several 
     years of fundraising and public hearings.
       (3) Opening to the public on April 29, 2004, the World War 
     II Memorial is the first national memorial dedicated to all 
     who served during World War II and acknowledges the 
     commitment and achievement of the entire Nation.
       (4) The Memorial honors the more than 16,000,000 who served 
     in the Armed Forces of the United States during World War II, 
     the more than 400,000 who died, and the millions who 
     supported the war effort from home.
       (5) It is a monument to the spirit, sacrifice, and 
     commitment of the American people to the common defense of 
     the Nation and to the broader causes of peace and freedom 
     from tyranny throughout the world.
       (6) Today, the Memorial is a top destination for millions 
     of annual visitors from all over the country and the world. 
     For many young visitors, their visit to the Memorial is a 
     first glimpse to a grateful Nation's remembrance of the 
     sacrifices made by the World War II generation.

[[Page S2516]]

       (7) For World War II veterans, the Memorial is a special 
     destination, a rendezvous point, and a gathering place for 
     reunions and commemoration programs.
       (8) The Friends of the National World War II Memorial play 
     a vital role in the preservation and maintenance of the 
     National World War II Memorial as a treasure for the American 
     people, while helping to facilitate key commemorative and 
     educational programs at the Memorial to pay tribute to 
     America's ``Greatest Generation'' and their efforts to 
     preserve liberty for generations to come.
       (9) The National World War II Memorial stands as an 
     important symbol of America's national unity, a timeless 
     reminder of the moral strength and power that flows when free 
     people are at once united and bonded together in a common and 
     just cause for liberty.

     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 coin:
       (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. DESIGNS OF COINS.

       (a) Design Requirements.--
       (1) In general.--The designs of the coins minted under this 
     Act shall be emblematic of the National World War II Memorial 
     and the service and sacrifice of American soldiers and 
     civilians during World War II.
       (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 ``2024''; and
       (C) inscriptions of the words ``Liberty'', ``In God We 
     Trust'', ``United States of America'', and ``E Pluribus 
     Unum''.
       (b) Selection.--The designs for the coins minted under this 
     Act shall be--
       (1) selected by the Secretary after consultation with the 
     Commission of Fine Arts and the Friends of the National World 
     War II Memorial; 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) Period for Issuance.--The Secretary may issue coins 
     minted under this Act only during the 1-year period beginning 
     on January 1, 2024.

     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) $35 per coin for the $5 coin;
       (2) $10 per coin for the $1 coin; and
       (3) $5 per coin for the half-dollar coin.
       (b) Distribution.--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 
     promptly paid by the Secretary to the Friends of the National 
     World War II Memorial to support the National Park Service in 
     maintaining and repairing the National World War II Memorial, 
     and for educational and commemorative programs.
       (c) Audits.--The Friends of the National World War II 
     Memorial 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 will not 
     result in any net cost to the United States Government; and
       (2) no funds, including applicable surcharges, shall be 
     disbursed to any recipient designated in section 7 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.

  The bill (S. 1596), as amended, was ordered to be engrossed for a 
third reading, was read the third time, and passed.

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