SECTION 1. SHORT TITLE.

    This Act may be cited as the ``NASA and JPL 50th Anniversary 
Commemorative Coin Act''.

SEC. 2. COIN SPECIFICATIONS.

    (a) Denominations.--In commemoration of the 50th anniversary of the 
establishment of the National Aeronautics and Space Administration and 
the Jet Propulsion Laboratory, the Secretary of the Treasury (hereafter 
in this Act referred to as the ``Secretary) shall mint and issue the 
following coins:
            (1) $10 gold coins.--Not more than 75,000 $10 gold coins of 
        such specifications as the Secretary determines to be 
        appropriate.
            (2) $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.
            (3) $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.
            (4) Half dollar silver coins.--Not more than 500,000 half 
        dollar coins which shall--
                    (A) have a diameter of 1.205 inches; and
                    (B) 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 section 5134 of title 31, 
United States Code, all coins minted under this Act shall be considered 
to be numismatic items.

SEC. 3. DESIGN OF COINS.

    (a) Design Requirements.--
            (1) In general.--The design of the coins minted under this 
        Act shall be emblematic of the 50 years of exemplary and 
        unparalleled achievements of the National Aeronautics and Space 
        Administration and the Jet Propulsion Laboratory.
            (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'', and such other inscriptions as the 
                Secretary may determine to be appropriate for the 
                designs of the coins.
            (3) Coin images.--
                    (A) $10 coins.--The reverse of the $10 coins issued 
                under this Act shall bear a design emblematic of the 
                sacrifice of the United States astronauts who lost 
                their lives in the line of duty over the course of the 
                space program.
                    (B) $5 coins.--The reverse of the $5 coins issued 
                under this Act shall bear at least 2 different 
                designs--
                            (i) 1 of which shall be emblematic of the 
                        Moon missions of the National Aeronautics and 
                        Space Administration; and
                            (ii) 1 of which shall be emblematic of the 
                        Earth missions of the National Aeronautics and 
                        Space Administration.
                    (C) $1 coins.--
                            (i) Obverse.--The obverse of the $1 coins 
                        issued under this Act shall honor the 
                        achievements of the Jet Propulsion Laboratory 
                        and bear an image emblematic of the missions 
                        and achievements of the Laboratory in the 
                        exploration of the solar system.
                            (ii) Reverse.--The reverse of the $1 coins 
                        issued under this Act shall bear 8 different 
                        designs each of which shall consist of an image 
                        of 1 of the 8 planets of the solar system, 
                        other than Earth, and be emblematic of the 
                        missions of the National Aeronautics and Space 
                        Administration and the Jet Propulsion 
                        Laboratory to such planet.
                    (D) Half dollar coins.--The reverse of the half 
                dollar coins shall bear an image of the universe.
            (4) Realistic and scientifically accurate depictions.--The 
        images for the designs of coins issued under this Act shall be 
        selected on the basis of the realism and scientific accuracy of 
        the images and on the extent to which the images are 
        reminiscent of the dramatic and beautiful artwork on coins of 
        the so-called ``Golden Age of Coinage'' in the United States, 
        at the beginning of the Twentieth Century, with the 
        participation of such noted sculptors and medallic artists as 
        James Earle Fraser, Augustus Saint-Gaudens, Victor David 
        Brenner, Adolph A. Weinman, Charles E. Barber, and George T. 
        Morgan.
    (b) Selection.--The design for the coins minted under this Act 
shall be--
            (1) selected by the Secretary after consultation with the 
        Administrator of the National Aeronautics and Space 
        Administration, the Director of the Jet Propulsion Laboratory, 
        and the Commission of Fine Arts; and
            (2) reviewed by the Citizens Coin Advisory Committee.

SEC. 4. SYMBOLIC INCLUSION OF PRECIOUS METALS THAT HAVE FLOWN IN SPACE.

    (a) Collection.--Each Federal agency and instrumentality of the 
United States, including the Department of Defense, the Smithsonian 
Institution, the National Aeronautics and Space Administration, and the 
Jet Propulsion Laboratory, that has in its possession any craft, or any 
part of a craft, that flew in space shall--
            (1) retrieve any gold, silver, copper, and other precious 
        metal that the Director of the United States Mint determines 
        may be used in the production of any coins under this Act, from 
        such craft or part, that can be retrieved without harming any 
        such craft or part that may be of continuing use for its 
        original purpose or for research, or whose preservation is 
        appropriate for historical purposes; and
            (2) deposit such precious metals so retrieved with the 
        Director of the United States Mint.
    (b) Segregation and Recordkeeping.--Each Federal agency and 
instrumentality of the United States which retrieves any precious 
metals in accordance with subsection (a), and the Director of the 
United States Mint with respect to precious metals deposited with the 
Mint in accordance with such subsection, shall maintain such precious 
metals separately from other metals not so retrieved or obtained and 
shall maintain accurate and complete records of the retrieval and 
deposit of any such precious metals.
    (c) Use of Precious Metals in Production of Coins.--Any precious 
metals deposited with the Director of the United States Mint under 
subsection (a) shall be used in the production of the coins struck 
under this Act by blending such precious metals with other bullion 
necessary for the production of such coins so that all of the coins 
produced under this Act will contain some proportion of the bullion 
obtained from craft or parts of crafts that flew in space in an amount 
appropriate for the types and denominations of the coins and the amount 
of precious metals so deposited.

SEC. 5. ISSUANCE OF COINS.

    (a) Quality of Coins.--Coins minted under this Act shall be issued 
in uncirculated and proof qualities.
    (b) Sets.--In issuing coins minted under this Act, the Secretary 
shall make not less than 25,000 sets of coins available for issuance 
each of which shall contain the coins of each denomination of the coins 
minted under this Act, including a coin bearing each design required 
for the reverse of any such denomination of coin.
    (c) Mint Facility.--Only 1 facility of the United States Mint may 
be used to strike any particular combination of denomination and 
quality of the coins minted under this Act.
    (d) Commencement of Issuance.--The Secretary may issue coins minted 
under this Act beginning January 1, 2008.
    (e) Termination of Minting Authority.--No coins may be minted under 
this Act after December 31, 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 6(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) 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 $75 per coin for the $10 coin.
            (2) A surcharge of $35 per coin for the $5 coin.
            (3) A surcharge of $10 per coin for the $1 coin.
            (4) 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 NASA Family Assistance Fund for the purposes of providing need-
based financial assistance to the families of NASA personnel who die as 
a result of injuries suffered in the performance of their official 
duties.
    (c) Audits.--The NASA Family Assistance 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 under subsection (b).
NASA and JPL 50th Anniversary Commemorative Coin Act - Directs the Secretary of the Treasury, in commemoration of the 50th anniversary of the establishment of the National Aeronautics and Space Administration (NASA) and the Jet Propulsion Laboratory (JPL) to mint and issue: (1) ten dollar gold coins; (2) five dollar gold coins; (3) one dollar silver coins; and (4) half-dollar silver coins emblematic of the 50 years of exemplary and unparalleled achievements of NASA and JPL.

Directs each Federal agency and U.S. instrumentality that has in its possession any craft or any part of a craft that flew in space to: (1) retrieve any gold, silver, copper, and other precious metal that may be used in the production of any coins under this Act from such craft or part; and (2) deposit such metals with the Director of the United States Mint.

Requires that all sales of coins minted under this Act include a surcharge of : (1) $75 per coin for the ten dollar coin; (2) $35 per coin for the five dollar coin; (3) $10 per coin for the one dollar coin; and (4) $3 for the half-dollar coin, which shall be paid by the Secretary to the NASA Family Assistance Fund for the purposes of providing financial assistance to the families of NASA personnel who die as a result of injuries suffered in the performance of their official duties.
To require the Secretary of the Treasury to mint coins in commemoration of the 50th anniversary of the establishment of the National Aeronautics and Space Administration and the Jet Propulsion Laboratory.