[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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