1995 Special Olympics World Games Commemorative Coin Act

Summary: 1995 Special Olympics World Games Commemorative Coin Act - Directs the Secretary of the Treasury to issue one-dollar silver coins emblematic of the 1995 Special Olympics World Games. 
Mandates that the surcharges collected from the sale of such coins be paid to the 1995 Special Olympics World Games Organizing Committee, Inc.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``1995 Special Olympics World Games 
Commemorative Coin Act''.

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 800,000 $1 coins, which shall weigh 26.73 grams, have a 
        diameter of 1.500 inches, and shall contain 90 percent silver 
        and 10 percent copper.
            (2) Design.--The design of the coins issued under this Act 
        shall be emblematic of the 1995 Special Olympics World Games. 
        On each such coin there 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 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 
Materials Stock Piling Act.

SEC. 4. SELECTION OF DESIGN.

    The design for the coins authorized by this Act shall be selected 
by the Secretary after consultation with the 1995 Special Olympics 
World Games Organizing Committee, Inc. and the Commission of Fine Arts. 
As required by section 5135 of title 31, United States Code, the design 
shall also be reviewed by the Citizens Commemorative Coin Advisory 
Committee.

SEC. 5. ISSUANCE OF THE COINS.

    (a) Quality of Coins.--The coins authorized under this Act may be 
issued in uncirculated and proof qualities.
    (b) Mint Facility.--Not more than 1 facility of the United States 
Mint may be used to strike any particular quality of the coins minted 
under this Act.
    (c) Commencement of Issuance.--The coins authorized under this Act 
shall be available for issue not later than January 15, 1995.
    (d) Sunset Provision.--No coins shall be minted under this Act 
after December 31, 1995.

SEC. 6. SALE OF THE COINS.

    (a) Sale Price.--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 provided in subsection (d) with respect to such 
coins, and 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 authorized under this Act 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 $10 
per coin.

SEC. 7. GENERAL WAIVER OF PROCUREMENT REGULATIONS.

    No provision of law governing procurement or public contracts shall 
be applicable to the procurement of goods or services necessary for 
carrying out the provisions of this Act. Nothing in this section shall 
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 total surcharges collected by the Secretary from the sale of 
the coins issued under this Act shall be promptly paid by the Secretary 
to the 1995 Special Olympics World Games Organizing Committee, Inc. 
Such amounts shall be used to--
            (1) provide a world class sporting event for athletes with 
        mental retardation;
            (2) demonstrate to a global audience the extraordinary 
        talents, dedication, and courage of persons with mental 
        retardation; and
            (3) underwrite the cost of staging and promoting the 1995 
        Special Olympics World Games.

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 1995 
Special Olympics World Games Organizing Committee, Inc. 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 all 
actions necessary to ensure that the issuance of the coins authorized 
by this Act shall result in no net cost to the United States 
Government.
    (b) Adequate Security for Payment Required.--No coin shall be 
issued under this Act unless the Secretary has received--
            (1) full payment therefore;
            (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.