A bill 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.

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 are 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 for use 
solely for the following purposes:
            (1) To establish an interest-bearing endowment called the 
        ``American Eagle Fund'' as a permanent source of support for 
        the care, monitoring, maintenance, and recovery of the bald 
        eagle and its habitat in the United States, including the 
        following:
                    (A) Public education activities and events.
                    (B) Habitat purchases and cooperative land 
                agreements.
                    (C) Raptor rehabilitation and captive breeding and 
                hacking.
                    (D) Behavior and migration research and wintering 
                migration counts.
                    (E) Facilitate the enforcement of laws protecting 
                the bald eagle.
                    (F) Nest-watch monitoring and eaglet banding.
                    (G) Public viewing areas and visitor centers.
            (2) To make annual grants, in an amount not to exceed 10 
        percent of the annual income of the American Eagle Fund, to 
        Federal, State, and private eagle restoration, protection, and 
        enhancement projects within the 5 bald eagle recovery regions 
        established by the United States Fish and Wildlife Service, in 
        accordance with recommendations made by an advisory committee 
        of recognized eagle experts which the Foundation shall 
        establish.
            (3) To administer the American Eagle Fund, including 
        contracting for necessary services, in an annual amount not to 
        exceed the lesser of--
                    (A) 10 percent of the annual income of the American 
                Eagle Fund; or
                    (B) $250,000.
            (4) To provide financial support for capital projects 
        related to the restoration and protection of bald eagles in 
        Tennessee and in the United States, in general.
            (5) To provide financial support for the continuation and 
        expansion of the efforts of the American Eagle Foundation of 
        Tennessee in the United States to educate the American people 
        nationally about the livelihood, symbolism, and protection of 
        the bald eagle, the national symbol of the United States, 
        through the dissemination of information regarding bald eagles 
        and their habitat at special events and through the media 
        (including newspapers, magazines, radio, television, the 
        Internet, and billboards).
    (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).

Summary: 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: (1) establish an interest-bearing endowment called the American Eagle Fund as a permanent source of support for the care, monitoring, maintenance, and recovery of the bald eagle and its habitat in the United States. (2) make annual grants to Federal, State, and private eagle restoration, protection, and enhancement projects. (3) administer the Fund in an annual amount not to exceed the lesser of ten percent of the annual income of the Fund or $250,000. And (4) provide financial support for capital projects and for continuation and expansion of the Foundation's efforts to educate the American people about the bald eagle.