To require the Secretary of the Treasury to mint coins in commemoration of the 50th anniversary of the desegregation of the Little Rock Central High School in Little Rock, Arkansas, and for other purposes.

Summary: Little Rock Central High School Desegregation 50th Anniversary Commemorative Coin Act - Requires the Secretary of the Treasury to mint and issue coins commemorating the 50th anniversary of the desegregation of Little Rock Central High School in Little Rock, Arkansas.

Requires the design of such coins to be emblematic of the desegregation of Little Rock Central High School and its contribution to civil rights in America.

Specifies the sale price of such coins and applicable surcharges. Requires surcharges collected from sales to be paid to the Secretary of the Interior for the protection, preservation, and interpretation of resources and stories associated with the Little Rock Central High School National Historic Site, including: (1) site improvements; (2) development of interpretive and education programs and historic preservation projects; and (3) establishment of cooperative agreements to preserve or restore the historic character of the Park Street and Daisy L. Gatson Bates Drive corridors adjacent to the site.

Prohibits including any surcharge with respect to the issuance of any coin under this Act during a calendar year if such issuance would result in exceeding the annual two commemorative coin program issuance limitation for such year.

Deems any funds expended by the school district (regardless of the source of the funds) for improvements at the Little Rock Central High School National Historic Site, to the extent such funds were used as described in this Act, to be funds from private sources as necessary to meet statutory matching requirements.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Little Rock Central High School 
Desegregation 50th Anniversary Commemorative Coin Act''.

SEC. 2. FINDINGS.

    Congress finds the following:
        (1) September 2007, marks the 50th anniversary of the 
    desegregation of Little Rock Central High School in Little Rock, 
    Arkansas.
        (2) In 1957, Little Rock Central High was the site of the first 
    major national test for the implementation of the historic decision 
    of the United States Supreme Court in Brown, et al. v. Board of 
    Education of Topeka, et al., 347 U.S. 483 (1954).
        (3) The courage of the ``Little Rock Nine'' (Ernest Green, 
    Elizabeth Eckford, Melba Pattillo, Jefferson Thomas, Carlotta 
    Walls, Terrence Roberts, Gloria Ray, Thelma Mothershed, and 
    Minnijean Brown) who stood in the face of violence, was influential 
    to the Civil Rights movement and changed American history by 
    providing an example on which to build greater equality.
        (4) The desegregation of Little Rock Central High by the 9 
    African American students was recognized by Dr. Martin Luther King, 
    Jr. as such a significant event in the struggle for civil rights 
    that in May 1958, he attended the graduation of the first African 
    American from Little Rock Central High School.
        (5) A commemorative coin will bring national and international 
    attention to the lasting legacy of this important event.

SEC. 3. COIN SPECIFICATIONS.

    (a) Denominations.--The Secretary of the Treasury (hereinafter in 
this Act referred to as the ``Secretary'') shall mint and issue not 
more than 500,000 $1 coins each of which shall--
        (1) weigh 26.73 grams;
        (2) have a diameter of 1.500 inches; and
        (3) contain 90 percent silver and 10 percent copper.
    (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 5136 of title 31, 
United States Code, all coins minted under this Act shall be considered 
to be numismatic items.

SEC. 4. DESIGN OF COINS.

    (a) Design Requirements.--The design of the coins minted under this 
Act shall be emblematic of the desegregation of the Little Rock Central 
High School and its contribution to civil rights in America.
    (b) Designation and Inscriptions.--On each coin minted under this 
Act there shall be--
        (1) a designation of the value of the coin;
        (2) an inscription of the year ``2007''; and
        (3) inscriptions of the words ``Liberty'', ``In God We Trust'', 
    ``United States of America'', and ``E Pluribus Unum''.
    (c) 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 Coinage Advisory Committee 
    established under section 5135 of title 31, United States Code.

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, 2007, 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, 2007.

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 sum of the face value of the coins, the surcharge required 
under section 7(a) for the coins, and 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.--
        (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.

SEC. 7. SURCHARGES.

    (a) Surcharge Required.--All sales shall include a surcharge of $10 
per coin.
    (b) Distribution.--Subject to section 5134(f) of title 31, United 
States Code, and subsection (d), all surcharges which are received by 
the Secretary from the sale of coins issued under this Act shall be 
promptly paid by the Secretary to the Secretary of the Interior for the 
protection, preservation, and interpretation of resources and stories 
associated with Little Rock Central High School National Historic Site, 
including the following:
        (1) Site improvements at Little Rock Central High School 
    National Historic Site.
        (2) Development of interpretive and education programs and 
    historic preservation projects.
        (3) Establishment of cooperative agreements to preserve or 
    restore the historic character of the Park Street and Daisy L. 
    Gatson Bates Drive corridors adjacent to the site.
    (c) Limitation.--Notwithstanding subsection (a), no surcharge may 
be included with respect to the issuance under this Act of any coin 
during a calendar year if, as of the time of such issuance, the 
issuance of such coin would result in the number of commemorative coin 
programs issued during such year to exceed the annual 2 commemorative 
coin program issuance limitation under section 5112(m)(1) of title 31, 
United States Code (as in effect on the date of the enactment of this 
Act). The Secretary of the Treasury may issue guidance to carry out 
this subsection.
    (d) Creditable Funds.--Notwithstanding any other provision of the 
law and recognizing the unique partnership nature of the Department of 
the Interior and the Little Rock School District at the Little Rock 
Central High School National Historic Site and the significant 
contributions made by the Little Rock School District to preserve and 
maintain the historic character of the high school, any non-Federal 
funds expended by the school district (regardless of the source of the 
funds) for improvements at the Little Rock Central High School National 
Historic Site, to the extent such funds were used for the purposes 
described in paragraph (1), (2), or (3) of subsection (b), shall be 
deemed to meet the requirement of funds from private sources of section 
5134(f)(1)(A)(ii) of title 31, United States Code, with respect to the 
Secretary of the Interior.

                               Speaker of the House of Representatives.

                            Vice President of the United States and    
                                               President of the Senate.