1997 Franklin Delano Roosevelt Commemorative Coin Act

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``1997 Franklin Delano Roosevelt 
Commemorative Coin Act''.

SEC. 2. FINDINGS.

    The Congress finds that--
            (1) the people of the United States feel a deep debt of 
        gratitude to Franklin Delano Roosevelt for his leadership in 
        America's struggle for peace, well-being, and human dignity;
            (2) Franklin Delano Roosevelt served his country as the 
        thirty-second President from 1932 until his death in 1945, and 
        is the only United States President elected to 4 terms in 
        office;
            (3) Franklin Delano Roosevelt served the State of New York 
        as Governor from 1928 through 1932;
            (4) Franklin Delano Roosevelt served his country as the 
        United States Assistant Secretary of the Navy from 1913 through 
        1920;
            (5) Franklin Delano Roosevelt piloted the American people 
        through the economic chaos of the Great Depression;
            (6) Franklin Delano Roosevelt, as our commander in chief, 
        led the American people through the turmoil of World War II;
            (7) Franklin Delano Roosevelt established Social Security, 
        thus providing all Americans with a more abundant and secure 
        life;
            (8) Franklin Delano Roosevelt was the author of ``The Four 
        Freedoms: Freedom of Speech, Freedom of Worship, Freedom from 
        Want, and Freedom from Fear'';
            (9) Franklin Delano Roosevelt was the founder of the 
        National Foundation for Infantile Paralysis, parent 
        organization of the March of Dimes;
            (10) Franklin Delano Roosevelt was the chief architect of 
        the United Nations;
            (11) after many years of planning, the Franklin Delano 
        Roosevelt Memorial will soon join the memorials of Washington, 
        Jefferson, and Lincoln as a tribute to another great American 
        leader;
            (12) the Franklin Delano Roosevelt Memorial will be a 
        series of 4 large outdoor rooms encompassing over 7 acres, and 
        will be situated between the Lincoln and Jefferson memorials in 
        Washington, D.C.; and
            (13) in 1997, the Nation will celebrate the public opening 
        of this magnificent memorial, honoring one of our greatest 
        Presidents.

SEC. 3. COIN SPECIFICATIONS.

    (a) Half Dollar Silver Coins.--The Secretary of the Treasury 
(hereafter in this Act referred to as the ``Secretary'') shall mint and 
issue not more than 500,000 half dollar coins, each of which shall--
            (1) weigh 12.50 grams;
            (2) have a diameter of 30.61 millimeters; 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 section 5134 of title 31, 
United States Code, all coins minted under this Act shall be considered 
to be numismatic items.

SEC. 4. SOURCES OF BULLION.

    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. 5. DESIGN OF COINS.

    (a) Design Requirements.--
            (1) In general.--The obverse side of each coin minted under 
        this Act shall bear a likeness of Franklin Delano Roosevelt, 
        the thirty-second President of the United States. The reverse 
        side of each coin shall be emblematic of the Franklin Delano 
        Roosevelt Memorial in Washington, D.C.
            (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 ``1997''; 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 
        Franklin Delano Roosevelt Memorial Commission and the 
        Commission of Fine Arts; and
            (2) reviewed by the Citizens Commemorative Coin Advisory 
        Committee.
    (c) Additions and Alterations.--No addition or alteration to the 
design selected in accordance with subsection (b) shall be made without 
the approval of the Franklin Delano Roosevelt Memorial Commission.

SEC. 6. ISSUANCE OF COINS.

    (a) Quality and Mint Facility.--The coins authorized under this Act 
may be issued in uncirculated and proof qualities and shall be struck 
at the United States Bullion Depository at West Point.
    (b) Period for Issuance.--The Secretary may issue coins minted 
under this Act only during the period beginning on January 1, 1997, and 
ending on December 31, 1997.

SEC. 7. 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 $3 per 
coin.

SEC. 8. 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. 9. DISTRIBUTION OF SURCHARGES.

    (a) In General.--All surcharges received by the Secretary from the 
sale of coins issued under this Act shall be promptly paid by the 
Secretary as follows:
            (1) An amount equal to 50 percent of the total surcharges 
        shall be paid to the National Park Foundation Restricted 
        Account for the Franklin Delano Roosevelt Memorial.
            (2) An amount equal to 50 percent of the total surcharges 
        shall be paid to the National Park Service Restricted 
        Construction Account for the Franklin Delano Roosevelt 
        Memorial.
    (b) Audits.--The Comptroller General of the United States shall 
have the right to examine such books, records, documents, and other 
data of the accounts referred to in subsection (a) as may be related to 
the expenditures of amounts paid under such subsection.

SEC. 10. 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: Franklin Delano Roosevelt Commemorative Coin Act - Directs the Secretary of the Treasury to issue commemorative half-dollar silver coins whose obverse side shall bear a likeness of Franklin Delano Roosevelt, and whose reverse side shall be emblematic of the Franklin Delano Roosevelt Memorial in Washington, D. C. Mandates that the design for the coins shall be: (1) selected by the Secretary after consultation with the Franklin Delano Roosevelt Memorial Commission and the Commission of Fine Arts. And (2) reviewed by the Citizens Commemorative Coin Advisory Committee. Declares that: (1) the coins shall be struck at the US Bullion Depository at West Point. And (2) may be issued only from January 1, 1997, to December 31, 1997. Requires the Secretary to distribute proceeds from surcharges in equal allocations to: (1) the National Park Foundation Restricted Account for the Franklin Delano Roosevelt Memorial. And (2) the National Park Service Restricted Construction Account for the Franklin Delano Roosevelt Memorial.