SECTION 1. SHORT TITLE.
    This Act may be cited as the ``March of Dimes Commemorative Coin 
Act of 2012''.
SEC. 2. FINDINGS.
    The Congress finds the following:
        (1) President Franklin Roosevelt's personal struggle with polio 
    led him to create the National Foundation for Infantile Paralysis 
    (now known as the March of Dimes) on January 3, 1938, at a time 
    when polio was on the rise.
        (2) The Foundation established patient aid programs and funded 
    research for polio vaccines developed by Jonas Salk, MD, and Albert 
    Sabin, MD.
        (3) Tested in a massive field trial in 1954 that involved 1.8 
    million schoolchildren known as ``polio pioneers'', the Salk 
    vaccine was licensed for use on April 12, 1955 as ``safe, 
    effective, and potent''. The Salk and Sabin polio vaccines funded 
    by the March of Dimes ended the polio epidemic in the United 
    States.
        (4) With its original mission accomplished, the Foundation 
    turned its focus to preventing birth defects, prematurity, and 
    infant mortality in 1958. The Foundation began to fund research 
    into the genetic, prenatal, and environmental causes of over 3,000 
    birth defects.
        (5) The Foundation's investment in research has led to 13 
    scientists winning the Nobel Prize since 1954, including Dr. James 
    Watson's discovery of the double helix.
        (6) Virginia Apgar, MD, creator of the Apgar Score, helped 
    develop the Foundation's mission for birth defects prevention; 
    joining the Foundation as the head of its new birth defects 
    division in 1959.
        (7) In the 1960s, the Foundation created over 100 birth defects 
    treatment centers, and then turned its attention to assisting in 
    the development of Neonatal Intensive Care Units, or NICUs.
        (8) With March of Dimes support, a Committee on Perinatal 
    Health released Toward Improving the Outcome of Pregnancy in 1976, 
    which included recommendations that led to the regionalization of 
    perinatal health care in the United States.
        (9) Since 1998, the March of Dimes has advocated for and 
    witnessed the passage of the Birth Defects Prevention Act, 
    Children's Health Act, PREEMIE Act, and Newborn Screening Save 
    Lives Act.
        (10) In 2003, the March of Dimes launched a Prematurity 
    Campaign to increase awareness about and reduce the incidence of 
    preterm birth, infant mortality, birth defects, and lifelong 
    disabilities and disorders.
        (11) The March of Dimes actively promotes programs for and 
    funds research into newborn screening, pulmonary surfactant 
    therapy, maternal nutrition, smoking cessation, folic acid 
    consumption to prevent neural tube defects, increased access to 
    maternity care, and similar programs to improve maternal and infant 
    health.
SEC. 3. COIN SPECIFICATIONS.
    (a) $1 Silver Coins.--In recognition and celebration of the 
founding and proud service of the March of Dimes, the Secretary of the 
Treasury (hereafter in this Act referred to as the ``Secretary'') shall 
mint and issue not more than 500,000 $1 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.
    (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 mission and programs of the March of 
    Dimes, and its distinguished record of generating Americans' 
    support to protect our children's health.
        (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 ``2015''; 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--
        (1) contain motifs that represent the past, present, and future 
    of the March of Dimes and its role as champion for all babies, such 
    designs to be consistent with the traditions and heritage of the 
    March of Dimes;
        (2) be selected by the Secretary, after consultation with the 
    March of Dimes and the Commission of Fine Arts; and
        (3) be reviewed by the Citizens Coin Advisory Committee.
SEC. 5. ISSUANCE.
    (a) Quality of Coins.--Coins minted under this Act shall be issued 
in uncirculated and proof qualities.
    (b) Mint Facility.--For the coins minted under this Act, at least 1 
facility of the United States Mint shall be used to strike proof 
quality coins, while at least 1 other such facility shall be used to 
strike the uncirculated quality coins.
    (c) Period for Issuance.--The Secretary of the Treasury may issue 
coins minted under this Act only during the 1-year period beginning on 
January 1, 2015.
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 of $10 per 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 March of Dimes to help finance research, education, and services 
aimed at improving the health of women, infants, and children.
    (c) Audits.--The March of Dimes shall be subject to the audit 
requirements of section 5134(f)(2) of title 31, United States Code, 
with regard to the amounts received 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. The Secretary may issue guidance to carry out this 
subsection.
SEC. 8. FINANCIAL ASSURANCES.
    The Secretary shall take such actions as may be necessary to ensure 
that--
        (1) minting and issuing coins under this Act will not result in 
    any net cost to the United States Government; and
        (2) no funds, including applicable surcharges, shall be 
    disbursed to any recipient designated in section 7 until the total 
    cost of designing and issuing all of the coins authorized by this 
    Act (including labor, materials, dies, use of machinery, overhead 
    expenses, marketing, and shipping) is recovered by the United 
    States Treasury, consistent with sections 5112(m) and 5134(f) of 
    title 31, United States Code.
SEC. 9. BUDGET COMPLIANCE.
    The budgetary effects of this Act, for the purpose of complying 
with the Statutory Pay-As-You-Go Act of 2010, shall be determined by 
reference to the latest statement titled ``Budgetary Effects of PAYGO 
Legislation'' for this Act, submitted for printing in the Congressional 
Record by the Chairman of the Committee on the Budget of the House of 
Representatives, provided that such statement has been submitted prior 
to the vote on passage.

                               Speaker of the House of Representatives.

                            Vice President of the United States and    
                                               President of the Senate.
March of Dimes Commemorative Coin Act of 2012 - Directs the Secretary of the Treasury to mint and issue up to 500,000 $1 silver coins emblematic of the mission and programs of the March of Dimes. Requires the design of the coins to be emblematic of the mission and programs of the March of Dimes and its record of generating Americans' support to protect our children's health.

Permits issuance of such coins only during the one-year period beginning on January 1, 2015.

 Requires all surcharges received by the Secretary from the sale of such coins to be promptly paid to the March of Dimes to help finance research, education, and services aimed at improving the health of women, infants, and children.

Subjects the March of Dimes to federal audit requirements.

Instructs the Secretary to take necessary action to ensure that: (1) minting and issuing coins under this Act will not result in any net cost to the federal government; and (2) no funds, including applicable surcharges, shall be disbursed to March of Dimes to help finance research, education, and services aimed at improving the health of women, infants, and children until the total cost of designing and issuing the coins authorized by this Act is recovered by the Treasury.
To require the Secretary of the Treasury to mint coins in recognition and celebration of the 75th anniversary of the establishment of the March of Dimes Foundation.