World War II Peace Accords Commemorative Coin Act

Summary: World War II Peace Accords Commemorative Coin Act - Expresses the sense of the Congress that:  (1) the 50th anniversary of the signing of the World War II peace accords on the U.S.S. Missouri should not go unrecognized at the national level; and (2) the United States should recognize such anniversary by minting and issuing a commemorative coin. 
Sets forth specifications for half dollar clad coins. 
Mandates that the surcharges received from the sale of such coins be paid by the Secretary of the Treasury to the Admiral Nimitz Foundation for the purpose of preserving the Pacific War heritage of the United States.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``World War II Peace Accords 
Commemorative Coin Act''.

SEC. 2. CONGRESSIONAL FINDINGS AND SENSE OF THE CONGRESS.

    (a) Findings.--The Congress finds the following:
            (1) The date of September 2, 1995, will mark the 50th 
        anniversary of the signing of the peace accords among the 
        nations involved in World War II in the Pacific.
            (2) Such date marked the end of all hostilities in the 
        largest war the world has ever known.
            (3) September 2, 1945, also marked the birth of a 
        democratic form of government in Japan.
    (b) Sense of the Congress.--It is the sense of the Congress that--
            (1) the 50th anniversary of the signing of the peace 
        accords on the U.S.S. Missouri should not go unrecognized at 
        the national level; and
            (2) the United States should recognize such anniversary by 
        minting and issuing a commemorative coin.

SEC. 3. COIN SPECIFICATIONS.

    (a) Half Dollar Clad Coins.--
            (1) Issuance.--The Secretary of the Treasury (hereafter in 
        this Act referred to as the ``Secretary'') shall issue not more 
        than 500,000 half dollar coins which shall be minted to the 
        specifications for half dollar coins contained in section 
        5112(b) of title 31, United States Code.
            (2) Design.--The design of the half dollar coins shall be 
        emblematic of the signing of the peace accords on September 2, 
        1945. On each coin shall be a designation of the value of the 
        coin, an inscription of the year ``1995'', and inscriptions of 
        the words ``Liberty'', ``In God We Trust'', ``United States of 
        America'', and ``E Pluribus Unum''.
    (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 section 5132(a)(1) of title 
31, United States Code, all coins minted under this Act shall be 
considered to be numismatic items.

SEC. 4. SELECTION OF DESIGN.

    The design for the coins authorized by this Act shall be--
            (1) selected by the Secretary after consultation with the 
        Admiral Nimitz Foundation and the Commission of Fine Arts; and
            (2) reviewed by the Citizens Commemorative Coin Advisory 
        Committee.

SEC. 5. ISSUANCE OF THE COINS.

    (a) Period for Issuance.--The coins minted under this Act may be 
issued by the Secretary beginning on January 1, 1995.
    (b) Termination of Authority.--Coins may not be minted under this 
Act after December 31, 1995.
    (c) Proof and Uncirculated Coins.--The coins minted under this Act 
shall be issued in uncirculated and proof qualities.

SEC. 6. SALE OF COINS.

    (a) Sale Price.--Notwithstanding any other provision of law, the 
Secretary shall sell the coins minted under this Act at a price equal 
to the face value, plus the cost of designing and issuing the coins 
(including labor, materials, dies, use of machinery, and overhead 
expenses).
    (b) Bulk Sales.--The Secretary shall make any bulk sales of the 
coins minted under this Act at a reasonable discount.
    (c) Prepaid Orders.--The Secretary shall accept prepaid orders for 
the coins minted under this Act prior to the issuance of such coins. 
Sale prices with respect to such prepaid orders shall be at a 
reasonable discount.
    (d) Surcharge.--All sales of coins minted under this Act shall 
include a surcharge of $5.00 per coin.

SEC. 7. GENERAL WAIVER OF PROCUREMENT REGULATIONS.

    (a) In General.--Except as provided in subsection (b), no provision 
of law governing procurement or public contracts shall be applicable to 
the procurement of goods and services necessary for carrying out the 
provisions of this Act.
    (b) Equal Employment Opportunity.--Subsection (a) shall not relieve 
any person entering into a contract under the authority of this Act 
from complying with any law relating to equal employment opportunity.

SEC. 8. DISTRIBUTION OF SURCHARGES.

    The surcharges received by the Secretary from the sale of the coins 
issued under this Act shall be promptly paid by the Secretary to the 
Admiral Nimitz Foundation for the purpose of preserving the Pacific War 
heritage of the United States.

SEC. 9. AUDITS.

    The Comptroller General shall have the right to examine such books, 
records, documents, and other data of the Admiral Nimitz Foundation as 
may be related to the expenditure of amounts paid under section 8.

SEC. 10. 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 whose deposits are 
        insured by the Federal Deposit Insurance Corporation or the 
        National Credit Union Administration Board.