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[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7438 Referred in Senate (RFS)]

<DOC>
118th CONGRESS
  2d Session
                                H. R. 7438

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                           September 18, 2024

Received; read twice and referred to the Committee on Banking, Housing, 
                           and Urban Affairs

_______________________________________________________________________

                                 AN ACT

 
To require the Secretary of the Treasury to mint coins in commemoration 
          of the FIFA World Cup 2026, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``FIFA World Cup 2026 Commemorative 
Coin Act''.

SEC. 2. FINDINGS.

    Congress finds the following:
            (1) The FIFA World Cup 2026--
                    (A) will be held in the United States, Mexico, and 
                Canada;
                    (B) will be the first time the Men's World Cup has 
                been held in the United States in 32 years; and
                    (C) will be the second Men's World Cup hosted by 
                the United States and the largest and most inclusive 
                World Cup ever hosted, with 48 teams in 16 cities 
                across 3 countries.
            (2) Host cities and locations in the United States will 
        include Atlanta, Boston, Dallas, Houston, Kansas City, Los 
        Angeles, Miami, the New York/New Jersey area, the San Francisco 
        Bay area, and Seattle.
            (3) The FIFA World Cup 2026 will be organized under a FIFA-
        led operating model, which was introduced in the FIFA Women's 
        World Cup in Australia and New Zealand in 2023.
            (4) Through the FIFA-led operating model, the FIFA World 
        Cup 2026 is being planned and executed by FWC2026 US, Inc., an 
        organization exempt from taxation pursuant to section 501(c)(4) 
        of the Internal Revenue Code of 1986, headquartered in Miami.
            (5) The FIFA-led operating model includes a guaranteed 
        framework for providing a legacy fund to each participating 
        host member: the United States Soccer Federation, Canada 
        Soccer, and the Mexican Football Federation.
            (6) A FIFA World Cup 2026 commemorative coin program has 
        the opportunity to shape a lasting legacy for the sport of 
        soccer in the United States, support underserved communities, 
        and celebrate a unifying global event.

SEC. 3. COIN SPECIFICATIONS.

    (a) Denominations.--The Secretary of the Treasury shall mint and 
issue the following coins in commemoration of the FIFA World Cup 2026:
            (1) $5 gold coins.--Not more than 100,000 $5 coins, each of 
        which shall--
                    (A) weigh 8.359 grams;
                    (B) have a diameter of 0.850 inches; and
                    (C) contain not less than 90 percent gold.
            (2) $1 silver coins.--Not more than 500,000 $1 coins, each 
        of which shall--
                    (A) weigh 26.73 grams;
                    (B) have a diameter of 1.500 inches; and
                    (C) contain not less than 90 percent silver.
            (3) Half-dollar clad coins.--Not more than 750,000 half-
        dollar coins, each of 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.
    (d) Mintage Limit Exception.--If the Secretary determines, based on 
independent, market-based research conducted by FWC2026 US, Inc., that 
the mintage levels described in this section are not adequate to meet 
public demand, the Secretary may increase the mintage levels as the 
Secretary determines is necessary to meet public demand.

SEC. 4. DESIGN OF COINS.

    (a) Design Requirements.--
            (1) In general.--The designs of the coins minted under this 
        Act shall be emblematic of the sport of soccer and the FIFA 
        World Cup.
            (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 ``2026''; and
                    (C) inscriptions of the words ``Liberty'', ``In God 
                We Trust'', ``United States of America'', and ``E 
                Pluribus Unum''.
            (3) Selection.--The designs for the coins minted under this 
        Act shall be--
                    (A) selected by the Secretary after consultation 
                with--
                            (i) FWC2026 US, Inc.; and
                            (ii) the Commission of Fine Arts; and
                    (B) reviewed by the Citizens Coinage Advisory 
                Committee.

SEC. 5. ISSUANCE OF COINS.

    (a) Quality of Coins.--The Secretary may issue coins minted under 
this Act in uncirculated and proof qualities.
    (b) Period of Issuance.--The Secretary may issue coins under this 
Act only during the calendar year beginning on January 1, 2026.

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 issued under this Act shall 
include a surcharge of--
            (1) $35 per coin for the $5 coin;
            (2) $10 per coin for the $1 coin; and
            (3) $5 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 paid to FWC2026 US, Inc., for the 
purpose of aiding or executing United States-based soccer programs and 
activities, including the promotion of--
            (1) FIFA's legacy programs in the United States; and
            (2) efforts to grow the sport of soccer throughout the 
        United States, with a focus on youth, inner cities, and 
        underserved communities.
    (c) Audits.--FWC2026 US, Inc., 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 (b).
    (d) Limitation.--Notwithstanding subsection (a), 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 may issue guidance to carry out this subsection.

SEC. 8. FINANCIAL ASSURANCES.

    The Secretary shall take such actions as may be necessary to ensure 
that--
            (1) minting and issuing coins under this Act will not 
        result in any net cost to the United States Government; and
            (2) no funds, including applicable surcharges, are 
        disbursed to any recipient designated in section 7(b) until the 
        total cost of designing and issuing all of the coins authorized 
        by this Act (including labor, materials, dies, use of 
        machinery, winning design compensation, overhead expenses, and 
        shipping) is recovered by the United States Treasury, 
        consistent with sections 5112(m) and 5134(f) of title 31, 
        United States Code.

SEC. 9. DEFINITIONS.

    In this Act:
            (1) FIFA.--The term ``FIFA'' means the Federation 
        Internationale de Football Association.
            (2) FIFA world cup 2026.--The term ``FIFA World Cup 2026'' 
        means the FIFA Men's World Cup held in 2026.
            (3) FWC2026 us, inc.--The term ``FWC2026 US, Inc.'' means 
        the FIFA subsidiary incorporated in the United States for the 
        purpose of operating the FIFA World Cup 2026 and related 
        programs.

            Passed the House of Representatives September 17, 2024.

            Attest:

                                             KEVIN F. MCCUMBER,

                                                                 Clerk.
```