To require the Secretary of the Treasury to mint coins in commemoration of the Spirit of America and to establish the Victims of September 11th Fund.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Spirit of America Commemorative Coin 
Act of 2001''.

SEC. 2. FINDINGS.

    The Congress finds as follows:
            (1) On September 11, 2001, the United States suffered the 
        worst act of terrorism in its history.
            (2) The more than 6,000 people who lost their lives as a 
        result of the terrorist attacks that occurred in New York City, 
        at the Pentagon, and in Pennsylvania on September 11, 2001, 
        will not be forgotten.
            (3) Hundreds of emergency personnel responded heroically to 
        the crisis and lost their lives as a result.
            (4) People from everywhere in the United States responded 
        to the crisis with an outpouring of support for the victims of 
        the terrorist attacks and their families.
            (5) The civilized world stands with strength and fortitude 
        in opposition to the cowardly terrorist attacks against the 
        United States that occurred on September 11, 2001.
            (6) It is essential to remember not only the tragedy of the 
        attacks, but also the strength and resolve demonstrated by the 
        people of the United States in the aftermath of the attacks.
            (7) The minting of coins in commemoration of the Spirit of 
        America will pay tribute to the countless heroes who risked 
        their lives during the terrorist attacks and in their aftermath 
        so that others may live and to a united people whose belief in 
        freedom, justice, and democracy has never swayed.

SEC. 3. COIN SPECIFICATIONS.

    (a) Denominations.--In commemoration of the Spirit of America, the 
Secretary of the Treasury (hereafter in this Act referred to as the 
``Secretary'') shall mint and issue the following coins:
            (1) $50 gold coins.--Such number of 50 dollar coins as the 
        Secretary determines under subsection (b), which shall--
                    (A) weigh 1 ounce;
                    (B) have a diameter of 1.287 inches; and
                    (C) contain 91.67 percent gold and 8.33 percent 
                alloy.
            (2) $1 silver coins.--Such number of 1 dollar coins as the 
        Secretary determines appropriate to meet demand, 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.--Such number of half dollar 
        coins as the Secretary determines appropriate to meet demand, 
        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) Number of Gold Coins.--The Secretary, in consultation with the 
Attorney General of the United States and the Governors of New York, 
Pennsylvania, and Virginia shall determine the number of innocent 
individuals confirmed or presumed to have been killed as a result of 
the terrorist attacks against the United States that occurred on 
September 11, 2001, and shall identify such individuals. The Secretary, 
under subsection (a)(1), shall mint and issue a number of 50 dollar 
coins equal to the number of such individuals.
    (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 5136 of title 31, 
United States Code, all coins minted under this Act shall be considered 
to be numismatic items.
    (e) Sources of Bullion.--For the purpose of minting coins under 
this Act, the Secretary may only use metals that are from natural 
deposits in the United States or any territory or possession of the 
United States.
    (f) Special Treatment Under Exigent Circumstances.--
            (1) Findings.--The Congress finds as follows:
                    (A) The limitations contained in paragraphs (1) and 
                (2)(A) of section 5112(m) of title 31, United States 
                Code, and section 5134(f)(1)(B) of such title have well 
                served, and continue to serve, their purpose of 
                bringing greater stability to the markets for 
                commemorative coins, maximizing demand and 
                participation in such programs, and ensuring that such 
                programs have a broad base of private support and are 
                not used as the primary means of fundraising by 
                organizations that are the recipients of surcharges.
                    (B) The shocking circumstances of September 11, 
                2001, the broad base of public interest in showing the 
                Spirit of America and participating in the raising of 
                funds for the victims of the crimes committed on that 
                date, and the importance of implementing this coin 
                program as quickly as possible, notwithstanding the 
                fact that 2 commemorative coin programs are already in 
                effect for 2001 and 2002, justify exempting the coins 
                produced under this Act from such limitations.
            (2) Exemption.--Paragraphs (1) and (2) of section 5112(m) 
        of title 31, United States Code, and section 5134(f)(1)(B) of 
        such title shall not apply to coins authorized under this Act.

SEC. 4. DESIGN OF COINS.

    (a) In General.--The design of the coins minted under this Act 
shall be emblematic of the tragic events that occurred at the Pentagon, 
in New York City, and in Pennsylvania, on September 11, 2001.
    (b) Designation and Inscriptions.--On each coin minted under this 
Act there shall be--
            (1) a designation of the value of the coin;
            (2) an inscription of the date ``September 11, 2001'' (and 
        such coin shall bear no other date); and
            (3) inscriptions of the words ``Liberty'', ``In God We 
        Trust'', ``United States of America'', and ``E Pluribus Unum''.
    (c) Obverse of Coin.--The obverse of each coin minted under this 
Act shall bear the likeness of--
            (1) the Pentagon; and
            (2) the flag of the United States.
    (d) Reverse of Coin.--The reverse of each coin minted under this 
Act shall bear the likeness of the World Trade Center in New York City.
    (e) Selection.--The design for the coins minted under this Act 
shall be selected by the Secretary after consultation with the 
Commission of Fine Arts.

SEC. 5. STRIKING AND ISSUANCE OF COINS.

    (a) Quality of Coins.--
            (1) In general.--Except as provided under paragraph (2), 
        coins minted under this Act shall be issued in uncirculated 
        quality.
            (2) Gold coins.--50 dollar coins minted under section 
        3(a)(1) shall be issued only in proof quality.
    (b) Mint Facility.--
            (1) In general.--Except as provided under paragraph (2), 
        only 1 facility of the United States Mint may be used to strike 
        any particular quality of the coins minted under this Act.
            (2) Clad coins.--Any number of facilities of the United 
        States Mint may be used to strike the half dollar coins minted 
        under section 3(a)(3).
    (c) Period for Issuance.--The Secretary--
            (1) shall commence issuing coins minted under this Act as 
        soon as possible after the date of the enactment of this Act; 
        and
            (2) shall not issue any coins after the end of the 1-year 
        period beginning on the date such coins are first issued.

SEC. 6. SALE OF COINS.

    (a) Sale Price.--The coins issued under paragraphs (2) and (3) of 
section 3(a) shall be sold by the Secretary at a price equal to the sum 
of--
            (1) the face value of the coins;
            (2) the surcharges required by 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 paragraphs (2) and (3) of section 3(a) at a reasonable 
discount.
    (c) Prepaid Orders.--The Secretary shall accept prepaid orders 
received before the issuance of the coins minted under paragraphs (2) 
and (3) of section 3(a). The sale prices with respect to such prepaid 
orders shall be at a reasonable discount.
    (d) Gold Coins.--Notwithstanding section 5(c)(2), the Secretary may 
issue a 50 dollar coin minted under section 3(a)(1) free of charge to 
the next of kin of each individual identified under section 3(b). The 
Secretary may not sell any 50 dollar coin minted under section 3(a)(1) 
and may not issue any such coin except as provided in the preceding 
sentence.

SEC. 7. SURCHARGES ON SALE OF COINS.

    (a) Assessment.--Any sale by the Secretary of a coin minted under 
this Act shall include a surcharge of an amount determined by the 
Secretary to be sufficient to cover the cost of the gold coins minted 
under section 3(a)(1) (including labor, materials, dies, use of 
machinery, overhead expenses, and shipping), which charge may not be 
less than--
            (1) $10 per coin for the 1 dollar coin; and
            (2) $5 per coin for the half dollar coin.
    (b) Distribution of Excess Proceeds.--To the extent provided in 
advance in appropriation Acts, any proceeds from the surcharges 
received by the Secretary from the sale of coins issued under this Act 
in excess of the cost of producing all coins issued under this Act 
shall be paid promptly by the Secretary to the Office for Victims of 
Crime, in the Department of Justice, for the purpose of providing 
assistance to individuals who were injured, and to the families of 
individuals who were killed or injured, in the terrorist attacks 
against the United States on September 11, 2001.

SEC. 8. VICTIMS OF SEPTEMBER 11TH FUND.

    (a) Establishment.--There is hereby established on the books of the 
Treasury a fund to be known as the ``Victims of September 11th Fund'' 
(hereinafter in this section referred to as the ``Fund''), to be 
administered by the Attorney General, acting through the Director of 
the Office for Victims of Crime.
    (b) Amounts.--The Fund shall consist of the amounts transferred to 
the Office for Victims of Crime pursuant to section 7(b).
    (c) Use.--Subject to subsection (d), amounts in the Fund shall be 
used to provide assistance to individuals who were injured, and to the 
families of individuals who were killed or injured, in the terrorist 
attacks against the United States on September 11, 2001.
    (d) Administrative Costs.--No cost incurred in providing assistance 
under subsection (c), or in administering the Fund, shall be paid from 
the Fund or set off against or otherwise deducted from any assistance 
to any individual.
    (e) Investment.--Amounts in the Fund shall be invested in 
accordance with section 9702 of title 31, United States Code, and any 
interest on, and proceeds from, any such investment shall be credited 
to and become a part of the Fund.
    (f) Coordination With September 11th Victim Compensation Fund of 
2001.--No assistance provided under subsection (c), including 
assistance in the form of cash, shall be considered collateral source 
compensation for purposes of title IV of the Air Transportation Safety 
and System Stabilization Act (Public Law 107-42).
    (g) Authorization of Appropriations.--There are authorized to be 
appropriated to the Attorney General such sums as may be necessary to 
carry out this section.

Summary: Spirit of America Commemorative Coin Act of 2001 - Directs the Secretary of the Treasury to mint and issue $50 gold coins, one-dollar silver coins, and half-dollar clad coins emblematic of the tragic events that occurred at the Pentagon, in New York City, and in Pennsylvania, on September 11, 2001. Establishes the Victims of September 11th Fund which shall consist of amounts from surcharges received from the sale of such coins transferred to the Office for Victims of Crime for individuals who were injured, and to the families of individuals who were killed or injured, in the terrorist attacks against the United States on September 11, 2001.