A bill to require the Secretary of the Treasury to mint coins in commemoration of former President Ronald Reagan.

Summary: Ronald Reagan Commemorative Coin Act of 2001 - Directs the Secretary of the Treasury to mint and issue five-dollar gold coins, one-dollar silver coins, and ten-dollar bimetallic coins emblematic of the presidency and life of former President Ronald Reagan.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Ronald Reagan Commemorative Coin Act 
of 2001''.

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) $5 gold coins.--Not more than 100,000 $5 coins, which 
        shall--
                    (A) weigh 8.359 grams;
                    (B) have a diameter of 0.850 inches; and
                    (C) contain 90 percent gold and 10 percent alloy.
            (2) $1 silver coins.--Not more than 500,000 $1 coins, which 
        shall--
                    (A) weigh 26.73 grams;
                    (B) have a diameter of 1.500 inches; and
                    (C) contain 90 percent silver and 10 percent 
                copper.
    (b) Bimetallic Coins.--The Secretary may mint and issue not more 
than 200,000 $10 bimetallic coins of gold and platinum instead of the 
gold coins required under subsection (a)(1), in accordance with such 
specifications as the Secretary determines to be appropriate.
    (c) Legal Tender.--The coins minted under this Act shall be legal 
tender, as provided in section 5103 of title 31, United States Code.

SEC. 3. SOURCES OF BULLION.

    (a) Platinum and Gold.--The Secretary shall obtain platinum and 
gold for minting coins under this Act from available sources.
    (b) Silver.--The Secretary may obtain silver for minting coins 
under this Act from stockpiles established under the Strategic and 
Critical Materials Stock Piling Act and from other available sources.

SEC. 4. DESIGN OF COINS.

    (a) Design Requirements.--
            (1) In general.--The design of the coins minted under this 
        Act shall--
                    (A) be emblematic of the presidency and life of 
                former President Ronald Reagan;
                    (B) bear the likeness of former President Ronald 
                Reagan on the obverse side; and
                    (C) bear a design on the reverse side that is 
                similar to the depiction of an American eagle carrying 
                an olive branch, flying above a nest containing another 
                eagle and hatchlings, as depicted on the 2001 American 
                Eagle Gold Proof coins.
            (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 ``2005''; and
                    (C) inscriptions of the words ``Liberty'', ``In God 
                We Trust'', ``United States of America'', and ``E 
                Pluribus Unum''.
    (b) Design Selection.--The design for the coins minted under this 
Act shall be--
            (1) selected by the Secretary, after consultation with the 
        Commission of Fine Arts; 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) Mint Facility.--Only one facility of the United States Mint may 
be used to strike any particular combination of denomination and 
quality of the coins minted under this Act.
    (c) Period for Issuance.--The Secretary may issue coins minted 
under this Act only during the period beginning on January 1, 2005 and 
ending on December 31, 2005.

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 subsection (d) 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.
    (d) Surcharges.--All sales of coins issued under this Act shall 
include a surcharge established by the Secretary, in an amount equal to 
not more than--
            (1) $50 per coin for the $10 coin or $35 per coin for the 
        $5 coin; and
            (2) $10 per coin for the $1 coin.

SEC. 7. DISTRIBUTION OF SURCHARGES.

    (a) In General.--Subject to section 5134(f) of title 31, United 
States Code, the proceeds from the surcharges received by the Secretary 
from the sale of coins issued under this Act shall be paid promptly by 
the Secretary to the Department of Health and Human Services to be used 
by the Secretary of Health and Human Services for the purposes of--
            (1) providing grants to charitable organizations that 
        assist families in their efforts to provide care at home to a 
        family member with Alzheimer's disease; and
            (2) increasing awareness and educational outreach regarding 
        Alzheimer's disease.
    (b) Audits.--Any organization or entity that receives funds from 
the Secretary of Health and Human Services under subsection (a) shall 
be subject to the audit requirements of section 5134(f)(2) of title 31, 
United States Code, with regard to such funds.

SEC. 8. FINANCIAL ASSURANCES.

    (a) No Net Cost to the Government.--The Secretary shall take such 
actions as may be necessary to ensure that minting and issuing coins 
under this Act will not result in any net cost to the United States 
Government.
    (b) Payment for Coins.--A coin shall not be issued under this Act 
unless the Secretary has received--
            (1) full payment for the coin;
            (2) security satisfactory to the Secretary to indemnify the 
        United States for full payment; or
            (3) a guarantee of full payment satisfactory to the 
        Secretary from a depository institution, the deposits of which 
        are insured by the Federal Deposit Insurance Corporation or the 
        National Credit Union Administration Board.