George Washington Boyhood Home Commemorative Coin Act of 1994

Summary: George Washington Boyhood Home Commemorative Coin Act of 1994 - Directs the Secretary of the Treasury to issue one-dollar silver coins emblematic of a profile of George Washington and a depiction of his xboyhood home. 
Declares that all surcharges received from coin sales shall be paid to the George Washington Boyhood Home Foundation.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``George Washington Boyhood Home 
Commemorative Coin Act of 1994''.

SEC. 2. COIN SPECIFICATIONS.

    (a) One-Dollar Silver Coins.--
            (1) Issuance.--The Secretary of the Treasury (hereafter in 
        this Act referred to as the ``Secretary'') shall issue not more 
        than 500,000 one-dollar 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.
            (2) Design.--The design of the coins issued under this Act 
        shall be emblematic of a profile of George Washington and a 
        depiction of his boyhood home, commonly referred to as the 
        ``Ferry Farm'', on the Stafford County banks of the 
        Rappahannock River opposite the city of Fredericksburg, 
        Virginia. On each coin there shall be a designation of the 
        value of the coin, an inscription of the year ``1996'', and 
        inscriptions of the words ``Liberty'', ``In God We Trust'', 
        ``United States of America'', and ``E Pluribus Unum''.
    (b) Legal Tender.--The coins issued 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. 3. SOURCES OF BULLION.

    The Secretary shall obtain silver for the coins minted under this 
Act only from stockpiles established under the Strategic and Critical 
Minerals Stock Piling Act.

SEC. 4. SELECTION OF DESIGN.

    Subject to section 2(a)(2), the design for the coins authorized by 
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 1 facility of the United States Mint may 
be used to strike any particular quality of the coins minted under this 
Act.
    (c) Period for Issuance.--The Secretary may issue coins minted 
under this Act during the period beginning on January 1, 1996, and 
ending on December 31, 1996.

SEC. 6. SALE OF COINS.

    (a) Sale Price.--The coins authorized under this Act shall be sold 
by the Secretary at a price equal to the sum of the face value of the 
coins, the surcharge provided in subsection (c) with respect to such 
coins, and the cost of designing and issuing the coins (including 
labor, materials, dies, use of machinery, overhead expenses, marketing, 
and shipping).
    (b) Prepaid Orders.--The Secretary shall accept prepaid orders for 
the coins authorized under this Act prior to the issuance of such 
coins. Sale prices with respect to such prepaid orders shall be at a 
reasonable discount.
    (c) Surcharges.--All sales shall include a surcharge of $12 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.

    All surcharges received by the Secretary from the sale of coins 
issued under this Act shall be promptly paid by the Secretary to the 
George Washington Boyhood Home Foundation for the purpose of restoring, 
preserving, and developing the boyhood home of America's first 
President.

SEC. 9. AUDITS.

    The Comptroller General of the United States shall have the right 
to examine such books, records, documents, and other data of the George 
Washington Boyhood Home Foundation as may be related to the 
expenditures 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.