National Law Enforcement Officers Memorial Coin Act

Summary: National Law Enforcement Officers Memorial Coin Act - Directs the Secretary of the Treasury to issue gold and silver coins emblematic of the National Law Enforcement Officers Memorial. 
Establishes the National Law Enforcement Officers Memorial Maintenance Fund to be administered by the Secretary of the Interior for Memorial-related purposes and to provide educational scholarships to the immediate family members of law enforcement officers killed in the line of duty whose names appear on the Memorial.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``National Law Enforcement Officers 
Memorial Coin Act''.

SEC. 2. COIN SPECIFICATIONS.

    (a) Five Dollar Gold Coins.--The Secretary of the Treasury 
(hereafter referred to as the ``Secretary'') shall issue not more than 
200,000 five dollar coins, which shall--
            (1) weigh 8.859 grams;
            (2) have a diameter of 0.850 inches; and
            (3) contain 90 percent gold and 10 percent alloy.
    (b) One Dollar Silver Coins.--The Secretary shall issue not more 
than 750,000 one dollar coins 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.
    (c) Design.--The design of coins authorized to be minted under this 
Act shall be emblematic of the National Law Enforcement Officers 
Memorial. On each such coin there shall be a designation of the value 
of the coin, an inscription of the year ``1994'', and inscriptions of 
the words ``Liberty'', ``In God We Trust'', ``United States of 
America'', and ``E Pluribus Unum''.
    (d) Legal Tender.--The coins issued under this Act shall be legal 
tender as provided in section 5103 of title 31, United States Code.
    (e) 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.

    (a) Gold.--The Secretary shall obtain gold for minting coins under 
this Act pursuant to the authority of the Secretary under existing law.
    (b) Silver.--The Secretary shall obtain silver for minting coins 
under this Act only from stockpiles established under the Strategic and 
Critical Minerals Stock Piling Act.

SEC. 4. SELECTION OF DESIGN.

    The design for each coin authorized by this Act shall be--
            (1) selected by the Secretary after consultation with the 
        National Law Enforcement Officers Memorial Fund, Inc., the 
        Secretary of the Interior, and the Commission of Fine Arts; and
            (2) reviewed by the Citizens Commemorative Advisory 
        Committee.

SEC. 5. 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 
at least equal to the cost of bullion, plus the cost of designing and 
issuing such coins (including labor, materials, dies, use of machinery, 
overhead expenses, marketing, and shipping).
    (b) Bulk Sales.--The Secretary shall make bulk sales at a 
reasonable discount.
    (c) Prepaid Orders.--The Secretary shall accept prepaid orders for 
the coins prior to the issuance of such coins. Sales under this 
subsection shall be at a reasonable discount.
    (d) Surcharge Required.--All sales shall include a surcharge of $35 
per coin for the five dollar coins and $7 per coin for the one dollar 
coins.

SEC. 6. ISSUANCE OF THE COINS.

    (a) Period for Issuance.--The coins authorized under this Act shall 
be issued only through the end of calendar year 1994.
    (b) Proof and Uncirculated Coins.--The coins authorized under this 
Act shall be issued in uncirculated and proof qualities, and not more 
than 1 facility of the United States Mint may be used to strike any 
particular combination of denomination and quality.

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 title.
    (b) Equal Employment Opportunity.--Subsection (a) shall not relieve 
any person entering into a contract under the authority of this title 
from complying with any law relating to equal employment opportunity.

SEC. 8. DISTRIBUTION OF SURCHARGES.

    The total amount of surcharges received by the Secretary from the 
sale of coins under this Act shall be promptly paid by the Secretary to 
the Fund established under section 11.

SEC. 9. AUDITS.

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

SEC. 10. FINANCIAL ASSURANCES.

    (a) No Cost to the Government.--The Secretary shall take such 
actions as may be necessary to ensure that the minting and issuance of 
the coins under this Act shall not result in any net cost to the 
Federal Government.
    (b) Payment.--No coin shall 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.

SEC. 11. NATIONAL LAW ENFORCEMENT OFFICERS MEMORIAL MAINTENANCE FUND.

    (a) Establishment.--There is hereby established the National Law 
Enforcement Officers Memorial Maintenance Fund (hereafter referred to 
as the ``Fund''), which shall be a revolving fund, to be administered 
by the Secretary of the Interior. Monies for the Fund shall be raised 
through surcharges paid to the Fund pursuant to section 8. The 
Secretary of the Interior may accept donations for the Fund. The Fund 
shall be maintained in an interest bearing account within the 
Department of the Treasury.
    (b) Purposes.--The Fund shall be used--
            (1) for maintenance and repair of the National Law 
        Enforcement Officers Memorial;
            (2) to add to the Memorial the names of law enforcement 
        officers who have died in the line of duty;
            (3) for security of the Memorial site, to include the 
        posting of National Park Service rangers and United States Park 
        Police, as appropriate;
            (4) at the discretion of the Secretary of the Interior and 
        in consultation with the Secretary of the Treasury and the 
        Attorney General of the United States, who shall establish an 
        equitable procedure between the Fund and such other 
        organizations as may be appropriate, to provide educational 
        scholarships to the immediate family members of law enforcement 
        officers killed in the line of duty whose names appear on the 
        Memorial, the total amount of such scholarships not to exceed 
        10 percent of the Fund's annual income;
            (5) for the dissemination of information regarding the 
        Memorial to the general public; and
            (6) to administer the Fund, including contracting for 
        necessary services, in an amount not to exceed the lesser of--
                    (A) 10 percent of the Fund's annual income; or
                    (B) $200,000 in any 1-year period.
    (c) Budget and Audit Treatment.--The Fund shall be subject to the 
budget and audit provisions of chapter 91 of title 31, United States 
Code.