DESCRIPTION OF THE CHAIRMAN'S AMENDMENT TO

H.R. 1914, THE “JAMESTOWN 400TH ANNIVERSARY 

COMMEMORATIVE COIN ACT OF 2003,”

H.R. 2768, THE “JOHN MARSHALL COMMEMORATIVE

COIN ACT,” AND H.R. 3277, THE “MARINE CORPS 230TH

ANNIVERSARY COMMEMORATIVE COIN ACT”

Scheduled for Markup

By the

HOUSE COMMITTEE ON WAYS AND MEANS

on June 23, 2004

Prepared by

the Staff of the

JOINT COMMITTEE ON TAXATION

June 22, 2004

JCX-46-04
i

CONTENTS

Page

INTRODUCTION ....................................................................................................................... 1

I. OVERVIEW OF SURCHARGES RELATING TO COMMEMORATIVE COINS

ISSUED UNDER H.R. 1914, H.R. 2768, AND H.R. 3277 ........................................................ 2

II. DESCRIPTION OF THE CHAIRMAN'S AMENDMENT TO H.R. 1914, H.R. 2768,

AND H.R. 3277 ........................................................................................................................... 4
1

INTRODUCTION

This document1 provides a description of present law regarding the imposition of 

surcharges relating to the issuance of commemorative coins pursuant to the United States 

Commemorative Coin Act of 1996, and a description of surcharges to be imposed upon the 

issuance of commemorative coins under three separate bills: H.R. 1914, the “Jamestown 400th

Anniversary Commemorative Coin Act of 2003,” H.R. 2768, the “John Marshall 

Commemorative Coin Act,” and H.R. 3277, the “Marine Corps 230th Anniversary 

Commemorative Coin Act.” This document also describes the Chairman’s amendments to H.R. 

1914, H.R. 2768, and H.R. 3277.

 

1

 This document may be cited as follows: Joint Committee on Taxation, Description of 

the Chairman's Amendment To H.R. 1914, the “Jamestown 400th Anniversary Commemorative 

Coin Act of 2003,” H.R. 2768, the “John Marshall Commemorative Coin Act,” and H.R. 3277, 

the “Marine Corps 230th Anniversary Commemorative Coin Act,” (JCX-46-04), June 22, 2004.
2

I. OVERVIEW OF SURCHARGES RELATING TO COMMEMORATIVE COINS 

ISSUED UNDER H.R. 1914, H.R. 2768, AND H.R. 3277

Present Law

The Secretary of the Treasury is authorized to issue commemorative coins under the 

United States Commemorative Coin Act of 1996,2 as amended, and specific statutes authorizing 

the issuance of coins under a commemorative coin program. A statute authorizing a 

commemorative coin program generally includes a provision establishing authority for the 

Secretary to impose a surcharge with respect to that program. Proceeds of the surcharge are to 

be used for the purposes authorized by the commemorative coin program authorizing legislation. 

Under present law, effective January 1, 1999, the Secretary may mint and issue commemorative 

coins during any calendar year with respect to not more than two commemorative coin 

programs.3 This limitation applies to coin programs without regard to whether a surcharge is 

imposed.

Description of Proposals

H.R. 1914 provides for the issuance of a coin to commemorate the 400th anniversary of 

the Jamestown settlement. The bill provides that the Secretary shall mint and issue a one dollar 

coin and a five dollar coin, each of which shall be legal tender and considered to be a numismatic 

item. The bill provides that all sales of the coins shall include a surcharge of thirty-five dollars 

per coin for a five dollar coin, and ten dollars per coin for a one dollar coin. Under the bill, fifty 

percent of the surcharges received by the Secretary from the sale of coins issued under the bill 

shall be paid to the Jamestown-Yorktown Foundation of the Commonwealth of Virginia to 

support programs to promote the understanding of the legacies of Jamestown, and fifty percent 

shall be used to sustain the ongoing mission of preserving Jamestown; to enhance national and 

international educational programs relating to Jamestown; to improve infrastructure and 

archaeological research activities relating to Jamestown; and to conduct other programs to 

support the commemoration of the 400th anniversary of the settlement of Jamestown. The 

Secretary may issue coins minted under the bill only during the period beginning on January

1, 2007, and ending on December 31, 2007.

H.R. 2768 provides for the issuance of a coin to commemorate Chief Justice John 

Marshall. The bill provides that the Secretary shall mint and issue a one dollar coin that shall be 

legal tender and considered to be a numismatic item. The bill provides that all sales of the coins 

shall include a surcharge of ten dollars per coin. Under the bill, all surcharges received by the 

Secretary from the sale of coins issued under the bill shall be paid to the Supreme Court 

Historical Society for the purposes of supporting historical research and educational programs 

about the Supreme Court and the Constitution of the United States and related topics; supporting 

fellowship programs, internships, and docents at the Supreme Court; and collecting and 

preserving antiques, artifacts, and other historical items related to the Supreme Court and the 

 

2

 Pub. L. No. 104-329.

3

 31 U.S.C. 5112.
3

Constitution of the United States and related topics. The Secretary may issue coins minted under 

the bill only during the period beginning on January 1, 2005, and ending on December 31, 2005.

H.R. 3277 provides for the issuance of a coin to commemorate the 230th anniversary of 

the United States Marine Corps. The bill provides that the Secretary shall mint and issue a one 

dollar coin that shall be legal tender. The bill provides that all sales of the coins shall include a 

surcharge of ten dollars per coin. Under the bill, all surcharges received by the Secretary from 

the sale of coins issued under the bill shall be paid to the Marine Corps Heritage Foundation for 

the purposes of construction of the Marine Corps Heritage Center. The Secretary may issue 

coins minted under the bill only during the period beginning on January 1, 2005, and ending on 

December 31, 2005.

Effective Date

Each of the proposals is effective on the date of enactment.
4

II. DESCRIPTION OF THE CHAIRMAN'S AMENDMENT

TO H.R. 1914, H.R. 2768, AND H.R. 3277

The Chairman's amendment provides that no surcharge may be included with respect to 

the issuance of coins under H.R. 1914, the “Jamestown 400th Anniversary Commemorative Coin 

Act of 2003,” H.R. 2768, the “John Marshall Commemorative Coin Act,” and H.R. 3277, the 

“Marine Corps 230th Anniversary Commemorative Coin Act,” 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 limitation under section 5112(m)(1) 

of Title 31 of the United States Code, as in effect on the date of enactment of the proposal, of 

minting and issuing two commemorative coin programs. The Chairman’s amendment also 

provides that the Secretary of the Treasury may issue guidance to carry out the proposal.