First Lunar Landing Anniversary Commemorative Coin Act

Summary: First Lunar Landing Anniversary Commemorative Coin Act - Directs the Secretary of the Treasury to issue one-dollar coins to commemorate the 25th anniversary of the first lunar landing. 
Mandates that surcharges received from coin sales be paid to:  (1) the Neil Armstrong Air and Space Museum (Wapakoneta, Ohio):  (2) the Smithsonian Institution for the National Air and Space Museum; and (3) the Treasury for reduction of the national debt.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``First Lunar Landing Anniversary 
Commemorative Coin Act''.

SEC. 2. FIRST LUNAR LANDING COMMEMORATIVE COIN.

    The Secretary of the Treasury (in this Act referred to as the 
``Secretary'') shall mint and issue coins in accordance with this Act 
to commemorate the 25th Anniversary of the first lunar landing.

SEC. 3. COIN SPECIFICATIONS.

    (a) Issuance.--The Secretary of the Treasury shall mint and issue 
not more than 500,000 1-dollar 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) Design.--
            (1) Requirements.--The design of the coins issued under 
        subsection (A) shall be emblematic of the first lunar landing 
        and shall include--
                    (A) a designation of the value of the coin;
                    (B) an inscription of the year ``1994''; and
                    (C) inscriptions of the words--
                            (i) ``Liberty'';
                            (ii) ``In God We Trust'';
                            (iii) ``United States of America''; and
                            (iv) ``E Pluribus Unum''.
            (2) Selection of design.--The design of the coins minted 
        under this Act shall be--
                    (A) selected by the Secretary after consultation 
                with the Administrator of the National Aeronautics and 
                Space Administration; and
                    (B) reviewed by the Citizens Commemorative Coin 
                Advisory Committee in accordance with section 5134 of 
                title 31, United States Code.
    (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. 4. SOURCES OF BULLION.

    The Secretary shall obtain silver for the coins minted under this 
Act from stockpiles established under the Strategic and Critical 
Minerals Stock Piling Act (50 U.S.C. 98 et seq.).

SEC. 5. ISSUANCE OF COINS.

    (a) Commencement of Issuance.--The Secretary may issue the coins 
minted under this Act beginning on January 1, 1994.
    (b) Termination of Authority.--Coins may not be minted under this 
Act after December 31, 1994.
    (c) Quality of Coins.--The coins minted under this Act shall be 
issued in uncirculated and proof qualities.
    (d) Mint Facility.--Only 1 facility of the United States Mint may 
be used to strike any particular quality of coins minted under this 
Act.

SEC. 6. SALE OF COINS.

    (a) Sale Price.--The Secretary shall sell the coins minted under 
this Act at as price equal to the face value plus the cost of 
designing, minting, and issuing the coins (including labor, materials, 
dies, use of machinery, overhead expenses, marketing, and shipping) and 
the surcharge provided in subsection (d).
    (b) Bulk Sales.--The Secretary shall make bulk sales of the coins 
minted under this Act at a reasonable discount to reflect the lower 
cost of the sales.
    (c) Prepaid Orders.--The Secretary shall accept prepaid orders for 
the coins minted under this Act. To fill the orders, the Secretary 
shall sell the coins at a reasonable discount to reflect the benefit of 
prepayment.
    (d) Surcharges.--All sales of coins minted under this Act shall 
include a surcharge of $5 per coin.

SEC. 7. USE OF SURCHARGES.

    Notwithstanding section 5134 of title 32, United States Code, and 
subject to section 9 of this Act, surcharges received from the sale of 
coins minted under this Act shall be paid by the Secretary as follows:
            (1) Neil armstrong air and space museum.--Twenty-five 
        percent of the surcharges shall be paid to the Ohio Historic 
        Preservation Association to be used for the Neil Armstrong Air 
        and Space Museum, located in Wapakoneta, Ohio.
            (2) National air and space museum.--Twenty-five percent of 
        the surcharges shall be paid to the Secretary of the 
        Smithsonian Institution to be used for the National Air and 
        Space Museum.
            (3) Reduction of national debt.--Fifty percent of the 
        surcharges shall be transferred to the general fund of the 
        Treasury for the purpose of reducing the national debt.

SEC. 8. AUDITS.

    As a condition of receiving the surcharges paid under section 7, 
the Ohio Historic Preservation Association shall allow the Comptroller 
General of the United States to examine the books, records, documents, 
and other data of the Ohio Historic Preservation Association that may 
be related to the expenditure by the Association of surcharges paid 
under section 7.

SEC. 9. FINANCIAL REQUIREMENT.

    The Secretary shall take actions necessary to ensure that the 
minting and issuance of the coins under this Act will not result in any 
net cost to the Federal Government.

SEC. 10. PROCUREMENT REGULATIONS.

    (a) Waiver.--Except as provided in subsection (b), no provision of 
law applicable to procurement or public contracts shall be applicable 
to the procurement of goods or services relating to the minting and 
issuing of the coins issued under 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. 11. NUMISMATIC PUBLIC ENTERPRISE FUND.

    Subject to section 7 of this Act, the coins minted under this Act 
are numismatic items for purposes of subchapter III, chapter 51, 
subtitle IV of title 31, United States Code.