II

104TH CONGRESS

2D SESSION H. R. 1684

IN THE SENATE OF THE UNITED STATES

SEPTEMBER 18, 1996

Received

AN ACT

To require the Secretary of the Treasury to mint coins

in commemoration of the 150th anniversary of the death

of Dolley Madison.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,
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1 SECTION 1. SHORT TITLE.

2 This Act may be cited as the ‘‘Dolley Madison Com3 memorative Coin Act’’.

4 SEC. 2. COIN SPECIFICATIONS.

5 (a) $1 SILVER COINS.—In commemoration of the

6 150th anniversary of the death of Dolley Madison, the

7 Secretary of the Treasury (hereafter in this Act referred

8 to as the ‘‘Secretary’’) shall mint and issue not more than

9 500,000 1 dollar coins, which shall—

10 (1) weigh 26.73 grams;

11 (2) have a diameter of 1.500 inches; and

12 (3) contain 90 percent silver and 10 percent

13 copper.

14 (b) LEGAL TENDER.—The coins minted under this

15 Act shall be legal tender, as provided in section 5103 of

16 title 31, United States Code.

17 (c) NUMISMATIC ITEMS.—For purposes of section

18 5136 of title 31, United States Code, all coins minted

19 under this Act shall be considered to be numismatic items.

20 SEC. 3. SOURCES OF BULLION.

21 The Secretary shall obtain silver for minting coins

22 under this Act only from stockpiles established under the

23 Strategic and Critical Materials Stock Piling Act.

24 SEC. 4. DESIGN OF COINS.

25 (a) DESIGN REQUIREMENTS.—
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1 (1) IN GENERAL.—The design of the coins

2 minted under this Act shall be emblematic of the

3 150th anniversary of the death of Dolley Madison

4 and the life and achievements of the wife of the 4th

5 President of the United States.

6 (2) DESIGNATION AND INSCRIPTIONS.—On

7 each coin minted under this Act there shall be—

8 (A) a designation of the value of the coin;

9 (B) an inscription of the year ‘‘1999’’; and

10 (C) inscriptions of the words ‘‘Liberty’’,

11 ‘‘In God We Trust’’, ‘‘United States of Amer12 ica’’, and ‘‘E Pluribus Unum’’.

13 (b) SELECTION.—The design for the coins minted

14 under this Act shall be—

15 (1) selected by the Secretary after consultation

16 with the executive director of Montpelier, the Na17 tional Trust for Historic Preservation, and the Com18 mission of Fine Arts; and

19 (2) reviewed by the Citizens Commemorative

20 Coin Advisory Committee.

21 SEC. 5. ISSUANCE OF COINS.

22 (a) QUALITY OF COINS.—Coins minted under this

23 Act shall be issued in uncirculated and proof qualities.
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1 (b) MINT FACILITY.—Only 1 facility of the United

2 States Mint may be used to strike any particular quality

3 of the coins minted under this Act.

4 (c) COMMENCEMENT OF ISSUANCE.—The Secretary

5 may issue coins minted under this Act beginning January

6 1, 1999.

7 (d) TERMINATION OF MINTING AUTHORITY.—No

8 coins may be minted under this Act after December 31,

9 1999.

10 SEC. 6. SALE OF COINS.

11 (a) SALE PRICE.—The coins issued under this Act

12 shall be sold by the Secretary at a price equal to the sum

13 of—

14 (1) the face value of the coins;

15 (2) the surcharge provided in subsection (d)

16 with respect to such coins; and

17 (3) the cost of designing and issuing the coins

18 (including labor, materials, dies, use of machinery,

19 overhead expenses, marketing, and shipping).

20 (b) BULK SALES.—The Secretary shall make bulk

21 sales of the coins issued under this Act at a reasonable

22 discount.

23 (c) PREPAID ORDERS.—
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1 (1) IN GENERAL.—The Secretary shall accept

2 prepaid orders for the coins minted under this Act

3 before the issuance of such coins.

4 (2) DISCOUNT.—Sale prices with respect to pre5 paid orders under paragraph (1) shall be at a rea6 sonable discount.

7 (d) SURCHARGES.—All sales shall include a sur8 charge of $10 per coin.

9 SEC. 7. GENERAL WAIVER OF PROCUREMENT REGULA10 TIONS.

11 (a) IN GENERAL.—Except as provided in subsection

12 (b), no provision of law governing procurement or public

13 contracts shall be applicable to the procurement of goods

14 and services necessary for carrying out the provisions of

15 this Act.

16 (b) EQUAL EMPLOYMENT OPPORTUNITY.—Sub17 section (a) shall not relieve any person entering into a con18 tract under the authority of this Act from complying with

19 any law relating to equal employment opportunity.

20 SEC. 8. DISTRIBUTION OF SURCHARGES.

21 Subject to section 10(a), all surcharges received by

22 the Secretary from the sale of coins issued under this Act

23 shall be promptly paid by the Secretary to the National

24 Trust for Historic Preservation in the United States
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1 (hereafter in this Act referred to as the ‘‘National Trust’’)

2 to be used—

3 (1) to establish an endowment to be a perma4 nent source of support for Montpelier, the home of

5 James and Dolley Madison and a museum property

6 of the National Trust; and

7 (2) to fund capital restoration projects at Mont8 pelier.

9 SEC. 9. FINANCIAL ASSURANCES.

10 (a) NO NET COST TO THE GOVERNMENT.—The Sec11 retary shall take such actions as may be necessary to en12 sure that minting and issuing coins under this Act will

13 not result in any net cost to the United States Govern14 ment.

15 (b) PAYMENT FOR COINS.—A coin shall not be issued

16 under this Act unless the Secretary has received—

17 (1) full payment for the coin;

18 (2) security satisfactory to the Secretary to in19 demnify the United States for full payment; or

20 (3) a guarantee of full payment satisfactory to

21 the Secretary from a depository institution whose

22 deposits are insured by the Federal Deposit Insur23 ance Corporation or the National Credit Union Ad24 ministration Board.
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1 SEC. 10. CONDITIONS ON PAYMENT OF SURCHARGES.

2 (a) PAYMENT OF SURCHARGES.—Notwithstanding

3 any other provision of law, no amount derived from the

4 proceeds of any surcharge imposed on the sale of coins

5 issued under this Act shall be paid to the National Trust

6 unless—

7 (1) all numismatic operation and program costs

8 allocable to the program under which such coins are

9 produced and sold have been recovered; and

10 (2) the National Trust submits an audited fi11 nancial statement which demonstrates to the satis12 faction of the Secretary of the Treasury that, with

13 respect to all projects or purposes for which the pro14 ceeds of such surcharge may be used, the National

15 Trust has raised funds from private sources for such

16 projects and purposes in an amount which is equal

17 to or greater than the maximum amount the Na18 tional Trust may receive from the proceeds of such

19 surcharge.

20 (b) ANNUAL AUDITS.—

21 (1) ANNUAL AUDITS OF RECIPIENTS RE22 QUIRED.—The National Trust shall provide, as a

23 condition for receiving any amount derived from the

24 proceeds of any surcharge imposed on the sale of

25 coins issued under this Act, for an annual audit, in

26 accordance with generally accepted government au-
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1 diting standards by an independent public account2 ant selected by the National Trust, of all such pay3 ments to the National Trust beginning in the first

4 fiscal year of the National Trust in which any such

5 amount is received and continuing until all such

6 amounts received by the National Trust with respect

7 to such surcharges are fully expended or placed in

8 trust.

9 (2) MINIMUM REQUIREMENTS FOR ANNUAL AU10 DITS.—At a minimum, each audit of the National

11 Trust pursuant to paragraph (1) shall report—

12 (A) the amount of payments received by

13 the National Trust during the fiscal year of the

14 National Trust for which the audit is conducted

15 which are derived from the proceeds of any sur16 charge imposed on the sale of coins issued

17 under this Act;

18 (B) the amount expended by the National

19 Trust from the proceeds of such surcharges

20 during the fiscal year of the National Trust for

21 which the audit is conducted; and

22 (C) whether all expenditures by the Na23 tional Trust from the proceeds of such sur24 charges during the fiscal year of the National
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1 Trust for which the audit is conducted were for

2 authorized purposes.

3 (3) RESPONSIBILITY OF NATIONAL TRUST TO

4 ACCOUNT FOR EXPENDITURES OF SURCHARGES.—

5 The National Trust shall take appropriate steps, as

6 a condition for receiving any payment of any amount

7 derived from the proceeds of any surcharge imposed

8 on the sale of coins issued under this Act, to ensure

9 that the receipt of the payment and the expenditure

10 of the proceeds of such surcharge by the National

11 Trust in each fiscal year of the National Trust can

12 be accounted for separately from all other revenues

13 and expenditures of the National Trust.

14 (4) SUBMISSION OF AUDIT REPORT.—Not later

15 than 90 days after the end of any fiscal year of the

16 National Trust for which an audit is required under

17 paragraph (1), the National Trust shall—

18 (A) submit a copy of the report to the Sec19 retary of the Treasury; and

20 (B) make a copy of the report available to

21 the public.

22 (5) USE OF SURCHARGES FOR AUDITS.—The

23 National Trust may use any amount received from

24 payments derived from the proceeds of any sur25 charge imposed on the sale of coins issued under
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1 this Act to pay the cost of an audit required under

2 paragraph (1).

3 (6) WAIVER OF SUBSECTION.—The Secretary

4 of the Treasury may waive the application of any

5 paragraph of this subsection to the National Trust

6 for any fiscal year after taking into account the

7 amount of surcharges which the National Trust re8 ceived or expended during such year.

9 (7) AVAILABILITY OF BOOKS AND RECORDS.—

10 The National Trust shall provide, as a condition for

11 receiving any payment derived from the proceeds of

12 any surcharge imposed on the sale of coins issued

13 under this Act, to the Inspector General of the De14 partment of the Treasury or the Comptroller Gen15 eral of the United States, upon the request of such

16 Inspector General or the Comptroller General, all

17 books, records, and workpapers belonging to or used

18 by the National Trust, or by any independent public

19 accountant who audited the National Trust in ac20 cordance with paragraph (1), which may relate to

21 the receipt or expenditure of any such amount by

22 the National Trust.

23 (c) USE OF AGENTS OR ATTORNEYS TO INFLUENCE

24 COMMEMORATIVE COIN LEGISLATION.—No portion of any

25 payment to the National Trust from amounts derived from
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1 the proceeds of surcharges imposed on the sale of coins

2 issued under this Act may be used, directly or indirectly,

3 by the National Trust to compensate any agent or attor4 ney for services rendered to support or influence in any

5 way legislative action of the Congress relating to the coins

6 minted and issued under this Act.

Passed the House of Representatives September 17,

1996.

Attest: ROBIN H. CARLE,

Clerk.