[106th Congress Public Law 435]
[From the U.S. Government Printing Office]


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[DOCID: f:publ435.106]


[[Page 1915]]

               2002 WINTER OLYMPIC COMMEMORATIVE COIN ACT

[[Page 114 STAT. 1916]]

Public Law 106-435
106th Congress

                                 An Act


 
 To provide for the minting of commemorative coins to support the 2002 
  Salt Lake Olympic Winter Games and the programs of the United States 
        Olympic Committee. <<NOTE: Nov. 6, 2000 -  [H.R. 3679]>> 

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress <<NOTE: 2002 Winter Olympic 
Commemorative Coin Act. Utah 31 USC 5112 note.>> assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``2002 Winter Olympic Commemorative 
Coin Act''.

SEC. 2. COIN SPECIFICATIONS.

    (a) Denominations.--The Secretary of the Treasury (hereafter in this 
Act referred to as the ``Secretary'') shall mint and issue the following 
coins:
            (1) Five dollar gold coins.--Not more than 80,000 $5 coins, 
        which shall weigh 8.359 grams, have a diameter of 0.850 inches, 
        and contain 90 percent gold and 10 percent alloy.
            (2) One dollar silver coins.--Not more than 400,000 $1 
        coins, which shall weigh 26.73 grams, have a diameter of 1.500 
        inches, and contain 90 percent silver and 10 percent copper.

    (b) Design.--The design of the coins minted under this Act shall be 
emblematic of the participation of American athletes in the 2002 Olympic 
Winter Games. On each coin there shall be a designation of the value of 
the coin, an inscription of the year ``2002'', and inscriptions of the 
words ``Liberty'', ``In God We Trust'', ``United States of America'', 
and ``E Pluribus Unum''.
    (c) Legal Tender.--The coins minted under this Act shall be legal 
tender, as provided in section 5103 of title 31, United States Code.
    (d) Numismatic Items.--For purposes of section 5134 of title 31, 
United States Code, all coins minted under this Act shall be considered 
to be numismatic items.

SEC. 3. SOURCES OF BULLION.

    (a) Gold.--The Secretary shall obtain gold for minting coins under 
this Act pursuant to the authority of the Secretary under other 
provisions of law.
    (b) Silver.--The Secretary shall obtain silver for minting coins 
under this Act from any available source, including from stockpiles 
established under the Strategic and Critical Materials Stock Piling Act.

SEC. 4. SELECTION OF DESIGN.

    The design for the coins minted under this Act shall be--
            (1) selected by the Secretary after consultation with--

[[Page 114 STAT. 1917]]

                    (A) the Commission of Fine Arts;
                    (B) the United States Olympic Committee; and
                    (C) Olympic Properties of the United States--Salt 
                Lake 2002, L.L.C., a Delaware limited liability company 
                created and owned by the Salt Lake Organizing Committee 
                for the Olympic Winter Games of 2002 (hereafter in this 
                Act referred to as ``Olympic Properties of the United 
                States''); and
            (2) reviewed by the Citizens Commemorative Coin 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) Commencement of Issuance.--The Secretary may issue coins minted 
under this Act beginning January 1, 2002, except that the Secretary may 
initiate sales of such coins, without issuance, before such date.
    (c) Termination of Minting Authority.--No coins shall be minted 
under this Act after December 31, 2002.

SEC. 6. SALE OF COINS.

    (a) Sale Price.--Notwithstanding any other provision of law, the 
coins issued under this Act shall be sold by the Secretary at a price 
equal to the face value, plus the cost of designing and issuing such 
coins (including labor, materials, dies, use of machinery, overhead 
expenses, and marketing).
    (b) Bulk Sales.--The Secretary shall make bulk sales of the coins 
issued under this Act at a reasonable discount.
    (c) Prepaid Orders at a Discount.--The Secretary shall accept 
prepaid orders for the coins minted under this Act before the issuance 
of such coins. Sales under this subsection shall be at a reasonable 
discount.

SEC. 7. SURCHARGES.

    (a) Surcharge Required.--All sales shall include a surcharge of $35 
per coin for the $5 coins and $10 per coin for the $1 coins.
    (b) Distribution.--Subject to section 5134(f ) of title 31, United 
States Code, all surcharges which are received by the Secretary from the 
sale of coins issued under this Act shall be promptly paid by the 
Secretary as follows:
            (1) Salt lake organizing committee for the olympic winter 
        games of 2002.--One half to the Salt Lake Organizing Committee 
        for the Olympic Winter Games of 2002 for use in staging and 
        promoting the 2002 Salt Lake Olympic Winter Games.
            (2) United states olympic committee.--One half to the United 
        States Olympic Committee for use by the Committee for the 
        objects and purposes of the Committee as established in the 
        Amateur Sports Act of 1978.

[[Page 114 STAT. 1918]]

    (c) Audits.--Each organization that receives any payment from the 
Secretary under this section shall be subject to the audit requirements 
of section 5134(f )(2) of title 31, United States Code.

    Approved November 6, 2000.

LEGISLATIVE HISTORY--H.R. 3679 (S. 2266):
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SENATE REPORTS: No. 106-355 accompanying S. 2266 (Comm. on Banking, 
Housing, and Urban Affairs).
CONGRESSIONAL RECORD, Vol. 146 (2000):
            Sept. 19, considered and passed House.
            Oct. 23, considered and passed Senate.

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