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[108th Congress Public Law 291]
[From the U.S. Government Printing Office]

[DOCID: f:publ291.108]

[[Page 1023]]

          MARINE CORPS 230TH ANNIVERSARY COMMEMORATIVE COIN ACT

[[Page 118 STAT. 1024]]

Public Law 108-291
108th Congress

                                 An Act

 
To require the Secretary of the Treasury to mint coins in commemoration 
   of the 230th Anniversary of the United States Marine Corps, and to 
 support construction of the Marine Corps Heritage Center. <<NOTE: Aug. 
                        6, 2004 -  [H.R. 3277]>> 

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled, <<NOTE: Marine Corps 
230th Anniversary Commemorative Coin Act. 31 USC 5112 note.>> 

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Marine Corps 230th Anniversary 
Commemorative Coin Act''.

SEC. 2. FINDINGS.

    The Congress finds that--
            (1) November 10, 2005, marks the 230th anniversary of the 
        United States Marine Corps;
            (2) the United States Marine Corps has, over the course of 
        its illustrious 230-year history, fought gallantly in defense of 
        the United States;
            (3) the United States Marine Corps has, over the course of 
        its storied history, established itself as the Nation's military 
        leader in amphibious warfare, and will continue in that role as 
        the United States faces the challenges of the 21st Century;
            (4) the United States Marine Corps continues to exemplify 
        the warrior ethos that has made it a fighting force of 
        international repute;
            (5) all Americans should commemorate the legacy of the 
        United States Marine Corps so that the values embodied in the 
        ``Corps'' are recognized for the significant contribution they 
        have made in protecting the United States against its enemies;
            (6) in 2001, the Congress authorized the construction of the 
        Marine Corps Heritage Center, the purpose of which is to provide 
        a multipurpose facility to be used for historical displays for 
        the public viewing, curation, and storage of artifacts, research 
        facilities, classrooms, offices, and associated activities, 
        consistent with the mission of the Marine Corps;
            (7) the Marine Corps Heritage Center is scheduled to open on 
        November 10, 2005;
            (8) the United States should pay tribute to the 230th 
        anniversary of the United States Marine Corps by minting and 
        issuing a commemorative silver dollar coin; and
            (9) the surcharge proceeds from the sale of a commemorative 
        coin, which would have no net costs to the taxpayers, would 
        raise valuable funding for the construction of the Marine Corps 
        Heritage Center.

[[Page 118 STAT. 1025]]

SEC. 3. COIN SPECIFICATIONS.

    (a) $1 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 $1 coins, each of which shall--
            (1) weigh 26.73 grams;
            (2) have a diameter of 1.500 inches; 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.

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 warrior ethos of the United 
        States Marine Corps.
            (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 ``2005''; 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 
        Marine Corps Historical Division and the Commission of Fine 
        Arts; 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, 2005.

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 (b) 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) Surcharges.--All sales of coins issued under this Act shall 
include a surcharge of $10 per coin.
    (c) Bulk Sales.--The Secretary shall make bulk sales of coins issued 
under this Act at a reasonable discount.
    (d) Prepaid Orders.--
            (1) In general.--The Secretary shall accept prepaid orders 
        for coins minted under this Act before the issuance of such 
        coins.

[[Page 118 STAT. 1026]]

            (2) Discount.--Sale prices with respect to prepaid orders 
        under paragraph (1) should be at a reasonable discount.

    (e) Limitation.--Notwithstanding subsection (b), no surcharge may be 
included with respect to the issuance under this Act of any coin during 
a calendar year if, as of the time of such issuance, the issuance of 
such coin would result in the number of commemorative coin programs 
issued during such year to exceed the annual 2 commemorative coin 
program issuance limitation under section 5112(m)(1) of title 31, United 
States Code (as in effect on the date of the enactment of this Act). The 
Secretary of the Treasury may issue guidance to carry out this 
subsection.

SEC. 7. DISTRIBUTION OF SURCHARGES.

    (a) 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 Marine Corps Heritage Foundation for the purposes of construction of 
the Marine Corps Heritage Center, as authorized by section 1 of Public 
Law 106-398 (114 Stat. 1654).
    (b) Audit.--The Marine Corps Heritage Foundation shall be subject to 
the audit requirements of section 5134(f)(2) of title 31, United States 
Code, with regard to the amounts received under subsection (a).

    Approved August 6, 2004.

LEGISLATIVE HISTORY--H.R. 3277:
---------------------------------------------------------------------------

HOUSE REPORTS: No. 108-474, Pt. 1 (Comm. on Financial Services) and Pt. 
2 (Comm. on Ways and Means).
CONGRESSIONAL RECORD,
                                                        Vol. 150 (2004):
            July 14, considered and passed House.
            July 20, considered and passed Senate.

                                  <all>
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