[Senate Report 106-357]
[From the U.S. Government Publishing Office]



106th Congress 
 2d Session                      SENATE                          Report
                                                                106-357
_______________________________________________________________________

                                     

                                                       Calendar No. 708


 
                  AWARDING A CONGRESSIONAL GOLD MEDAL
                   TO FORMER PRESIDENT RONALD REAGAN
                  AND FORMER FIRST LADY NANCY REAGAN

                               __________

                              R E P O R T

                                 OF THE

                     COMMITTEE ON BANKING, HOUSING,

                           AND URBAN AFFAIRS

                          UNITED STATES SENATE

                              to accompany

                                S. 2459




    July 24 (legislative day, July 21), 2000.--Ordered to be printed
            COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS

                      PHIL GRAMM, Texas, Chairman
RICHARD C. SHELBY, Alabama           PAUL S. SARBANES, Maryland
CONNIE MACK, Florida                 CHRISTOPHER J. DODD, Connecticut
ROBERT F. BENNETT, Utah              JOHN F. KERRY, Massachusetts
ROD GRAMS, Minnesota                 RICHARD H. BRYAN, Nevada
WAYNE ALLARD, Colorado               TIM JOHNSON, South Dakota
MICHAEL B. ENZI, Wyoming             JACK REED, Rhode Island
CHUCK HAGEL, Nebraska                CHARLES E. SCHUMER, New York
RICK SANTORUM, Pennsylvania          EVAN BAYH, Indiana
JIM BUNNING, Kentucky                JOHN EDWARDS, North Carolina
MIKE CRAPO, Idaho

                   Wayne A. Abernathy, Staff Director
     Steven B. Harris, Democratic Staff Director and Chief Counsel
                  Madelyn Simmons, Professional Staff
             Erin Hansen, Democratic Legislative Assistant
                       George E. Whittle, Editor
                            C O N T E N T S

                              ----------                              
                                                                   Page

Introduction.....................................................     1
History of the Legislation.......................................     1
Purpose and Scope................................................     2
Section-by-Section Analysis......................................     2
    Section 1. Findings..........................................     2
    Section 2. Congressional Gold Medal..........................     3
    Section 3. Duplicate Medals..................................     3
    Section 4. National Medals...................................     3
    Section 5. Funding and Proceeds of Sale......................     3
Regulatory Impact Statement......................................     3
Cost of Legislation..............................................     3
Changes in Existing Law (Cordon Rule)............................     4
                                                       Calendar No. 708
106th Congress                                                   Report
                                 SENATE
 2d Session                                                     106-357

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 AWARDING A CONGRESSIONAL GOLD MEDAL TO FORMER PRESIDENT RONALD REAGAN 
                   AND FORMER FIRST LADY NANCY REAGAN

                                _______
                                

    July 24 (legislative day, July 21), 2000.--Ordered to be printed

                                _______
                                

 Mr. Gramm, from the Committee on Banking, Housing, and Urban Affairs, 
                        submitted the following

                              R E P O R T

                         [To accompany S. 2459]

    The Committee on Banking, Housing, and Urban Affairs to 
which was referred the bill (S. 2459) to provide for a gold 
medal to be presented on behalf of the Congress to former 
President Ronald Reagan and former First Lady Nancy Reagan, 
having considered the same, reports favorably thereon without 
amendment and recommends that the bill do pass.

                              INTRODUCTION

    On July 13, 2000, the Senate Committee on Banking, Housing, 
and Urban Affairs met in legislative session and marked up and 
ordered to be reported S. 2459, a bill to provide for the award 
of a gold medal on behalf of the Congress to former President 
Ronald Reagan and former First Lady Nancy Reagan in recognition 
of their service to the Nation, without amendment. The 
Committee's action was taken by a voice vote.

                       HISTORY OF THE LEGISLATION

    The Act to award a Congressional Gold Medal on behalf of 
the Congress to former President Ronald Reagan and former First 
Lady Nancy Reagan for their service to the Nation, S. 2459, was 
introduced on April 25, 2000, by Senators Paul Coverdell and 
Trent Lott. Senators McCain, Thurmond, Stevens, Helms, Warner, 
Murkowski, Jeffords, McConnell, Hatch, Lugar, Collins, 
Hutchinson, Crapo, DeWine, Ashcroft, Inhofe, Burns, Sessions, 
Kyl, Grams, Mack, Craig, Shelby, Fitzgerald, Abraham, Enzi, 
Grassley, Hagel, Domenici, Smith of New Hampshire, Snowe, 
Santorum, Gorton, and Hutchison were original cosponsors. S. 
2459 has two purposes: first, to strike and present a gold 
medal on behalf of the Congress to former President Reagan and 
former First Lady Nancy Reagan, and second, to authorize the 
Secretary of the Treasury (Secretary) to strike and sell 
duplicates in bronze of the gold medal struck under this Act in 
an amount sufficient to cover the costs of the medals and the 
cost of the gold medal.
    There were no Committee hearings held on S. 2459. At the 
Committee markup on July 13, no amendments were offered to S. 
2459.

                           PURPOSE AND SCOPE

    The bill reported by the Committee authorizes the Secretary 
to strike a gold medal for presentation to former President 
Reagan and former First Lady Nancy Reagan in recognition of 
their service to the Nation. The design of the gold medal shall 
have suitable emblems, devices, and inscriptions, to be 
determined by the Secretary. The Speaker of the House of 
Representatives and the President Pro Tempore of the Senate 
shall make appropriate arrangements for the presentation of the 
gold medal.
    Duplicate medals made of bronze will also be struck and 
sold to the public at the direction of the Secretary. The price 
of the bronze medals shall be sufficient to cover the cost of 
the bronze medals (including labor, materials, dies, use of 
machinery, and overhead expenses) and the cost of the gold 
medal.
    The bill authorizes the appropriation of no more than 
$30,000 to pay for the cost of the medals struck under this 
Act. This appropriation is to be charged against the United 
States Mint Public Enterprise Fund.1 Amounts 
received from the sale of duplicate bronze medals under this 
Act shall be deposited into the United States Mint Public 
Enterprise Fund.
---------------------------------------------------------------------------
    \1\ P.L. 104-52, the Treasury Department Appropriation Act for 
Fiscal Year 1996 consolidated the numismatic and circulating coin 
operations of the United States Mint into one revolving fund, the 
United States Mint Public Enterprise Fund. This made the Mint's sole 
source of funding it's revenue-generating programs rather than an 
annual appropriation.
---------------------------------------------------------------------------

                      SECTION-BY-SECTION ANALYSIS

Section 1. Findings

    Section 1 provides for Congressional findings. The Congress 
finds that both former President Ronald Reagan and former First 
Lady Nancy Reagan have distinguished records of public service 
to the United States, the American people, and the 
international community; as President, Ronald Reagan restored 
the great, confident roar of American progress, growth, and 
optimism, a pledge which he made before being elected to 
office; President Ronald Reagan's leadership was instrumental 
in uniting a divided world by bringing about an end to the cold 
war; the United States enjoyed sustained economic prosperity 
and employment growth during Ronald Reagan's presidency; 
President Ronald Reagan's wife Nancy not only served as a 
gracious First Lady but also as a proponent for preventing 
alcohol and drug use among the Nation's youth by championing 
the Just Say No campaign; and together, Ronald and Nancy Reagan 
dedicated their lives to promoting national pride and to 
bettering the quality of life in the United States and 
throughout the world.

Section 2. Congressional Gold Medal

    Section 2 provides for the Speaker of the House of 
Representatives and the President Pro Tempore of the Senate to 
make appropriate arrangements for the presentation, on behalf 
of the Congress, of a gold medal of appropriate design to 
former President Ronald Reagan and former First Lady Nancy 
Reagan. This section also provides for the Secretary to include 
suitable emblems, devices, and inscriptions, as the Secretary 
determines, in the design of the gold medal.

Section 3. Duplicate medals

    Section 3 provides for the Secretary, under such 
regulations as the Secretary may prescribe, to strike and sell 
duplicate medals in bronze of the gold medal authorized by this 
Act. The price of the bronze medals will be determined as to be 
sufficient to cover the cost of the bronze medals and the gold 
medal.

Section 4. National medals

    Section 4 authorizes that the medals struck under this Act 
are national medals for purposes of Chapter 51 of title 31, 
United States Code.2
---------------------------------------------------------------------------
    \2\ While there is no statutory definition for ``national medals,'' 
the medals honor those events that have contributed to and advanced the 
history of the country, or those persons whose superior deeds and 
achievements have embellished our history or who are representative of 
the finest accomplishments in service to the Nation.
---------------------------------------------------------------------------

Section 5. Funding and proceeds of sale

    Section 5 authorizes that no more than $30,000, to pay for 
the cost of the medals authorized by this Act, shall be charged 
against the United States Mint Public Enterprise Fund. In 
addition, the proceeds from the sale of duplicate bronze medals 
shall be deposited into the United States Mint Public 
Enterprise Fund.

                      REGULATORY IMPACT STATEMENT

    Pursuant to rule XXVI, paragraph 11(b), of the Standing 
Rules of the Senate, the Committee has evaluated the regulatory 
impact of the bill and concludes that it will not increase the 
net regulatory burden imposed on the Government.

               CONGRESSIONAL BUDGET OFFICE COST ESTIMATE

                                     U.S. Congress,
                               Congressional Budget Office,
                                     Washington, DC, July 21, 2000.
Hon. Phil Gramm,
Chairman, Committee on Banking, Housing, and Urban Affairs, U.S. 
        Senate, Washington, DC.
    Dear Mr. Chairman: The Congressional Budget Office has 
prepared the enclosed cost estimate for S. 2459, a bill to 
provide for the award of a gold medal on behalf of the Congress 
to former President Ronald Reagan and his wife Nancy Reagan in 
recognition of their service to the nation.
    If you wish further details on this estimate, we will be 
pleased to provide them. The CBO staff contact is John R. 
Righter.
            Sincerely,
                                           Steven Lieberman
                                    (For Dan L. Crippen, Director).
    Enclosure.

S. 2459--A bill to provide for the award of a gold medal on behalf of 
        the Congress to former President Ronald Reagan and his wife 
        Nancy Reagan in recognition of their service to the nation

    S. 2459 would authorize the President to present a gold 
medal to former President Ronald Reagan and his wife Nancy 
Reagan on behalf of the Congress. To help recover the costs of 
the gold medal, which would be financed from the U.S. Mint 
Public Enterprise Fund, S. 2459 would authorize the Mint to 
strike and sell bronze duplicates of the medal at a price that 
covers production costs for both the medal and the duplicates.
    Based on the cost of recent medals produced by the Mint, 
CBO estimates that enacting S. 2459 would not significantly 
affect direct spending. CBO estimates that the gold medal would 
cost about $35,000 to produce over fiscal years 2000 and 2001, 
including around $5,000 for the cost of the gold and around 
$30,000 for the costs to design, engrave, and manufacture the 
medal. CBO expects that the Mint would recoup at least some of 
its costs by selling bronze duplicates to the public.
    Because the bill would affect direct spending, pay-as-you-
go procedures would apply S. 2459 contains no intergovernmental 
or private-sector mandates as defined in the Unfunded Mandates 
Reform Act and would not affect the budgets of state, local, or 
tribal governments.
    The CBO staff contact is John R. Righter. This estimate was 
approved by Robert A. Sunshine, Assistant Director for Budget 
Analysis.

                 CHANGES IN EXISTING LAW (CORDON RULE)

    In the opinion of the Committee, it is necessary to 
dispense with the requirements of paragraph 12 of rule XXVI of 
the Standing Rules of the Senate in order to expedite the 
business of the Senate.

                                
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