[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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