Theodore Roosevelt Commemorative Coin Act

SECTION 1. SHORT TITLE; FINDINGS.

    (a) Short Title.--This Act may be cited as the ``Theodore Roosevelt 
Commemorative Coin Act''.
    (b) Findings.--The Congress makes the following findings:
            (1) Theodore Roosevelt, the 26th President of the United 
        States, inspired and led the people of the United States toward 
        the goal of natural resource conservation.
            (2) The protection and conservation of the Nation's natural 
        heritage requires the acquisition by the United States of 
        habitat and rights to the use of habitat.
            (3) Allowing those persons who benefit from and support 
        conservation efforts to participate in the funding of those 
        efforts is desirable and achievable through the sale of 
        collectors' commemorative coins.

SEC. 2. COIN SPECIFICATIONS.

    (a) Denominations.--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.--5 dollar 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.--1 dollar 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.--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) Amounts of coins.--
            (1) Gold coins.--The Secretary shall issue coins under 
        subsection (a)(1) with the dates and in the amounts as follows:

      

                                                                        
                   Year                             Amount              
                                                                        
    1997...........................  Not more than 500,000.             
    1998...........................  Not more than 500,000.             
                                                                        

            (2) Silver coins.--The Secretary shall issue coins under 
        subsection (a)(2) with the dates and in the amounts as follows:

      

                                                                        
                   Year                             Amount              
                                                                        
    1997...........................  Not more than 1,000,000.           
    1998...........................  Not more than 1,000,000.           
                                                                        

            (3) Clad coins.--The Secretary shall issue coins under 
        subsection (a)(3) with the dates and in the amounts as follows:

      

                                                                        
                   Year                             Amount              
                                                                        
    1997...........................  Not more than 1,000,000.           
    1998...........................  Not more than 1,250,000.           
                                                                        

    (c) Legal Tender.--The coins minted under this Act shall be legal 
tender, as provided in section 5103 of title 31, United States Code.
    (d) 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. SOURCES OF BULLION.

    (a) Gold.--The Secretary shall obtain gold for minting coins under 
this Act pursuant to the authority of the Secretary under other 
provisions of law.
    (b) Silver.--The Secretary shall obtain silver for minting coins 
under this Act only from stockpiles established under the Strategic and 
Critical Materials Stock Piling Act.

SEC. 4. DESIGN OF COINS.

    (a) Design Requirements.--
            (1) Obverse.--The obverse side of the coins minted under 
        this Act shall bear the likeness of Theodore Roosevelt.
            (2) Reverse.--The reverse side of the coin shall be 
        emblematic of the Nation's natural resources.
            (3) 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 date of the coin as 
                specified in section 2(b); 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
            (2) reviewed by the Citizens Commemorative Coin 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 combination of denomination and 
quality of the coins minted under this Act.
    (c) Commencement of Issuance.--The Secretary may issue coins minted 
under this Act beginning January 1, 1997.
    (d) Termination of Minting Authority.--No coins may be minted under 
this Act after December 31, 1998.

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 subsection (d) 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.
    (d) Surcharges.--All sales shall include a surcharge of--
            (1) $35 per coin for the $5 coin;
            (2) $7 per coin for the $1 coin; and
            (3) $2 per coin for the half dollar coin.

SEC. 7. GENERAL WAIVER OF PROCUREMENT REGULATIONS.

    (a) In General.--Except as provided in subsection (b), no provision 
of law governing procurement or public contracts shall be applicable to 
the procurement of goods and services necessary for carrying out the 
provisions of 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. 8. DISTRIBUTION OF SURCHARGES.

    (a) Administration of Endangered Species Act of 1973.--All 
surcharges received by the Secretary from the sale of coins issued 
under this Act shall, to the extent and in amounts provided in advance 
in appropriation Acts, be promptly made available by the Secretary to 
the Secretary of the Interior for use by such Secretary in connection 
with the administration of the Endangered Species Act of 1973.
    (b) Excess Amounts.--If, after the sale of all coins minted under 
this Act, the amount of surcharges received by the Secretary from the 
sale of coins issued under this Act exceeds the amount of such 
surcharges which have been appropriated to the Secretary of the 
Interior in accordance with subsection (a), such excess amount shall be 
deposited in the general fund of the Treasury.

SEC. 9. FINANCIAL ASSURANCES.

    (a) No Net Cost to the Government.--The Secretary shall take such 
actions as may be necessary to ensure that minting and issuing coins 
under this Act will not result in any net cost to the United States 
Government.
    (b) Payment for Coins.--A coin shall not be issued under this Act 
unless the Secretary has received--
            (1) full payment for the coin;
            (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.

Summary: Theodore Roosevelt Commemorative Coin Act - Directs the Secretary of the Treasury to issue five-dollar gold coins, one-dollar silver coins, and half-dollar coins whose obverse side shall bear the likeness of Theodore Roosevelt, and whose reverse side shall be emblematic of the Nation's natural resources. Mandates that surcharges received from coin sales be made available to the Secretary of the Interior in connection with the administration of the Endangered Species Act of 1973.