[Congressional Record Volume 169, Number 103 (Tuesday, June 13, 2023)]
[Senate]
[Pages S2076-S2077]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
250TH ANNIVERSARY OF THE UNITED STATES MARINE CORPS COMMEMORATIVE COIN
ACT
Mr. DURBIN. Mr. President, I ask unanimous consent that the Committee
on Banking, Housing, and Urban Affairs be discharged from and the
Senate proceed to the immediate consideration of S. 305.
The PRESIDING OFFICER. The clerk will report the bill by title.
[[Page S2077]]
The senior assistant legislative clerk read as follows:
A bill (S. 305) to require the Secretary of the Treasury to
mint coins in commemoration of the 250th anniversary of the
United States Marine Corps, and to support programs at the
Marine Corps Heritage Center.
There being no objection, the committee was discharged and the Senate
proceeded to consider the bill.
Mr. DURBIN. I further ask unanimous consent that the Blumenthal
substitute amendment 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 with no
intervening action or debate.
The PRESIDING OFFICER. Without objection, it is so ordered.
The amendment (No. 135), in the nature of a substitute, was agreed to
as follows:
(Purpose: In the nature of a substitute)
(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 ``250th Anniversary of the
United States Marine Corps Commemorative Coin Act''.
SEC. 2. FINDINGS.
The Congress finds the following:
(1) November 10, 2025, marks the 250th anniversary of the
United States Marine Corps.
(2) The United States Marine Corps has, over the course of
its illustrious 250-year history, fought gallantly in defense
of the United States.
(3) The United States Marine Corps has established itself
as a leading military force, always prepared for tomorrow's
challenges and to contend with the future character of war.
(4) The United States Marine Corps continues to exemplify
the warrior ethos that has made it a fighting force of
international repute.
(5) All Americans should commemorate the legacy of the
United States Marine Corps and recognize the significant
contributions the values embodied in the Corps have made in
protecting the United States against its enemies.
(6) In 2000, Congress authorized the construction of the
Marine Corps Heritage Center as a multipurpose facility for
historical displays for the public viewing, curation and
storage of artifacts, research facilities, classrooms,
offices and associated activities consistent with the mission
of the Marine Corps.
(7) On November 10, 2006, the Marine Corps Heritage Center
opened to the public, with exhibits that share the history of
the Marine Corps from 1775 until 1975, and with planned
future exhibits on modern day Marine Corps history from the
end of the Vietnam War through the wars in Iraq and
Afghanistan.
(8) The United States should pay tribute to the 250th
anniversary of the United States Marine Corps by minting and
issuing a commemorative coin.
(9) The surcharge proceeds from the sale of a commemorative
coin, which would have no net costs to the taxpayers, would
raise valuable funding for the continuation of educational
programs of the Marine Corps Heritage Center.
SEC. 3. COIN SPECIFICATIONS.
(a) Denominations.--In commemoration of the 250th
anniversary of the United States Marine Corps, the Secretary
of the Treasury (hereafter in this Act referred to as the
``Secretary'') shall mint and issue the following coins:
(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.--The designs of the coins minted
under this Act shall be emblematic of the 250th anniversary
of the United States Marine Corps.
(b) Designation and Inscriptions.--On each coin minted
under this Act there shall be--
(1) a designation of the value of the coin;
(2) an inscription of the year ``2025''; and
(3) inscriptions of the words ``Liberty'', ``In God We
Trust'', ``United States of America'', and ``E Pluribus
Unum''.
(c) Selection.--The designs for the coin minted under this
Act shall be--
(1) selected by the Secretary after consultation with the
Commission of Fine Arts, the Commandant of the Marine Corps,
and the Marine Corps Heritage Foundation; 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, 2025.
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--
(1) a surcharge of $35 per coin for the $5 coin;
(2) a surcharge of $10 per coin for the $1 coin; and
(3) a surcharge of $5 per coin for the half dollar coin.
(b) Distribution.--Subject to section 5134(f)(1) 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 Marine Corps
Heritage Foundation and shall only be used for the purposes
of supporting the mission of the Marine Corps Heritage
Center.
(c) Audits.--The Marine Corps Heritage Foundation, 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 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, are
disbursed to the Marine Corps Heritage Foundation 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. 305), as amended, was ordered to be engrossed for a
third reading, was read the third time, and passed.
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