SECTION 1. SHORT TITLE.

    This Act may be cited as the ``American Bald Eagle Recovery and 
National Emblem Commemorative Coin Act''.

SEC. 2. FINDINGS.

    The Congress finds as follows:
        (1) The bald eagle was designated as the national emblem of the 
    United States on June 20, 1782, by our country's Founding Fathers 
    at the Second Continental Congress.
        (2) The bald eagle is the greatest visible symbol of the spirit 
    of freedom and democracy in the world.
        (3) The bald eagle species is unique to North America and 
    represents the American values and attributes of freedom, courage, 
    strength, spirit, loyalty, justice, equality, democracy, quality, 
    and excellence.
        (4) The bald eagle is the central image used in the Great Seal 
    of the United States and the seal of many branches and departments 
    of the United States Government, including the President and the 
    Vice President of the United States, the United States Congress, 
    the Department of Defense, the Department of the Treasury, the 
    Department of Justice, the Department of State, the Department of 
    Commerce, the Department of Homeland Security, and the United 
    States Postal Service.
        (5) The bald eagle's image and symbolism have played a profound 
    role in establishing and honoring American beliefs and traditions.
        (6) The bald eagle's image and symbolism have influenced 
    American art, music, history, literature, commerce, and culture 
    since the founding of our Nation.
        (7) The bald eagle species was once threatened with possible 
    extinction in the lower 48 States but is now making a gradual, 
    encouraging recovery within America's lands, waterways, and skies.
        (8) The bald eagle was federally classified as an 
    ``endangered'' species in 1973 under the Endangered Species Act of 
    1973, and, in 1995, was removed from the ``endangered'' species 
    list and upgraded to the less imperiled ``threatened'' status under 
    such Act.
        (9) The administration is likely to officially delist the bald 
    eagle from both the ``endangered'' and ``threatened'' species lists 
    under the Endangered Species Act of 1973 by no later than 2008.
        (10) The initial recovery of the bald eagle population in the 
    United States was accomplished by the vigilant efforts of numerous 
    caring agencies, corporations, organizations, and citizens.
        (11) The continued caring and concern of the American people 
    and the further restoration and protection of the bald eagle and 
    its habitat is necessary to guarantee the full recovery and 
    survival of this precious national treasure for future generations.
        (12) Since the Endangered Species Act of 1973 requires that 
    delisted species be administratively monitored for a 5-year period, 
    the bald eagle nests in 49 States will require continual monitoring 
    after the bald eagle is removed from the protection of such Act; 
    and such efforts will require substantial funding to the Federal 
    and State agencies and private organizations that will conduct such 
    monitoring.
        (13) Due to Federal and State budget cutting and balancing 
    trends, funding for on-going bald eagle care, restoration, 
    monitoring, protection, and enhancement programs has diminished 
    annually.
        (14) In anticipation of the nationwide observance of the 
    official removal, by 2008, of the bald eagle from the 
    ``threatened'' species list under the Endangered Species Act of 
    1973, and the 35th anniversary, in 2008, of the Endangered Species 
    Act of 1973 and the designation of the bald eagle as an 
    ``endangered'' species under such Act, Congress wishes to offer the 
    opportunity for all persons to voluntarily participate in raising 
    funds for future bald eagle recovery, monitoring, and preservation 
    efforts and to contribute to a special American Eagle Fund 
    endowment managed by the not-for-profit American Eagle Foundation 
    of Tennessee in the United States, in cooperation with fund 
    management experts.
        (15) It is appropriate for Congress to authorize coins--
            (A) celebrating the recovery and restoration of the bald 
        eagle, the living symbol of freedom in the United States, to 
        America's lands, waterways, and skies;
            (B) commemorating the removal of the bald eagle from the 
        ``endangered'' and ``threatened'' species lists under the 
        Endangered Species Act of 1973; and
            (C) commemorating the 35th anniversary of the enactment of 
        the Endangered Species Act of 1973 and the designation of the 
        bald eagle as an ``endangered'' species under such Act.

SEC. 3. COIN SPECIFICATIONS.

    (a) Denominations.--In celebration of the recovery of the bald 
eagle, the national living symbol of freedom, to America's lands, 
waterways, and skies and in commemoration of the 35th anniversary of 
the enactment of the Endangered Species Act of 1973 and the placement 
of the bald eagle on the endangered species list under such Act, the 
Secretary of the Treasury (hereafter in this Act referred to as the 
``Secretary'') shall mint and issue the following coins:
        (1) $5 gold coins.--Not more than 100,000 $5 coins, which 
    shall--
            (A) weigh 8.359 grams;
            (B) have a diameter of 0.850 inches; and
            (C) contain 90 percent gold and 10 percent alloy.
        (2) $1 silver coins.--Not more than 500,000 $1 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.
        (3) Half dollar clad coins.--Not more than 750,000 half dollar 
    coins which shall--
            (A) weigh 11.34 grams;
            (B) have a diameter of 1.205 inches; and
            (C) be minted to the specifications for half dollar coins 
        contained in section 5112(b) of title 31, United States Code.
    (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 sections 5134 and 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.--
        (1) In general.--The design of the coins minted under this Act 
    shall be emblematic of the bald eagle and its history, natural 
    biology, and national symbolism.
        (2) Designation and inscriptions.--On each coin minted under 
    this Act there shall be--
            (A) a designation of the value of the coin;
            (B) an inscription of the year ``2008'' ; and
            (C) inscriptions of the words ``Liberty'', ``In God We 
        Trust'', ``United States of America'', and ``E Pluribus Unum''.
    (b) 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 the American Eagle Foundation of 
    Tennessee in the United States; and
        (2) reviewed by the Citizens Coinage 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 only during the 1-year period beginning on January 1, 
2008.

SEC. 6. SALE OF COINS.

    (a) Sale Price.--The coins issued under this Act shall be sold by 
the Secretary at a price equal to the sum of--
        (1) the face value of the coins;
        (2) the surcharge provided in section 7(a) with respect to such 
    coins; and
        (3) the cost of designing and issuing the coins (including 
    labor, materials, dies, use of machinery, overhead expenses, 
    marketing, and shipping).
    (b) Bulk Sales.--The Secretary shall make bulk sales of the coins 
issued under this Act at a reasonable discount.
    (c) Prepaid Orders.--
        (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) In General.--All sales of coins minted under this Act shall 
include a surcharge as follows:
        (1) A surcharge of $35 per coin for the $5 coin.
        (2) A surcharge of $10 per coin for the $1 coin.
        (3) A surcharge of $3 per coin for the half dollar coin.
    (b) Distribution.--Subject to section 5134(f) of title 31, United 
States Code, all surcharges received by the Secretary from the sale of 
coins issued under this Act shall be promptly paid by the Secretary to 
the American Eagle Foundation of Tennessee in the United States to 
further its works.
    (c) Audits.--The American Eagle Foundation of Tennessee in the 
United States and the American Eagle Fund shall be subject to the audit 
requirements of section 5134(f)(2) of title 31, United States Code, 
with regard to the amounts received by the Foundation or the Fund under 
subsection (b).
    (d) 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.

                               Speaker of the House of Representatives.

                            Vice President of the United States and    
                                               President of the Senate.
American Bald Eagle Recovery and National Emblem Commemorative Coin Act - Directs the Secretary of the Treasury, in celebration of the recovery of the bald eagle, in commemoration of the 35th anniversary of the enactment of the Endangered Species Act of 1973, and the placement of the bald eagle on the endangered species list under such Act, to mint and issue not more than: (1) 100,000 $5 gold coins; (2) 500,000 $1 silver coins; and (3) 750,000 half dollar coins.

Directs that the design of the coins be emblematic of the bald eagle and its history, natural biology, and national symbolism.

Requires that sales of the coins include a surcharge of $35 per coin for the $5 coin, $10 for the $1 coin, and $3 for the half dollar coin, which shall be promptly paid by the Secretary to the American Eagle Foundation of Tennessee to further its works.
To require the Secretary of the Treasury to mint coins celebrating the recovery and restoration of the American bald eagle, the national symbol of the United States, to America's lands, waterways, and skies and the great importance of the designation of the American bald eagle as an "endangered" species under the Endangered Species Act of 1973, and for other purposes.