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104TH CONGRESS

1ST SESSION S. 885

To establish United States commemorative coin programs, and for other

purposes.

IN THE SENATE OF THE UNITED STATES

JUNE 6 (legislative day, JUNE 5), 1995

Mr. MOYNIHAN (for himself, Mr. SIMPSON, Mr. INOUYE, Mr. THOMAS, Mr.

GRAHAM, Mr. COCHRAN, Mr. AKAKA, Mr. CHAFEE, and Mr. ROBB) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To establish United States commemorative coin programs,

and for other purposes.

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

3 SECTION 1. SHORT TITLE.

4 This Act may be cited as the ‘‘United States Com5 memorative Coin Act of 1995’’.

6 SEC. 2. DEFINITIONS.

7 For purposes of this Act—
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1 (1) the term ‘‘Fund’’ means the National Law

2 Enforcement Officers Memorial Maintenance Fund

3 established under section 201;

4 (2) the term ‘‘recipient organization’’ means an

5 organization described in section 101 to which sur6 charges received by the Secretary from the sale of

7 coins issued under this Act are paid; and

8 (3) the term ‘‘Secretary’’ means the Secretary

9 of the Treasury.

10 TITLE I—COMMEMORATIVE

11 COIN PROGRAMS

12 SEC. 101. COMMEMORATIVE COIN PROGRAMS.

13 In accordance with the recommendations of the Citi14 zens Commemorative Coin Advisory Committee, the Sec15 retary shall mint and issue the following coins:

16 (1) BICENTENNIAL OF UNITED STATES.—On or

17 before December 31, 1995, the Secretary shall mint

18 not more than 25,000 $10 gold coins with specifica19 tions to be determined by the Secretary.

20 (2) UNITED NATIONS AND PRESIDENT TRU21 MAN.—

22 (A) IN GENERAL.—To commemorate the

23 50th anniversary of the founding of the United

24 Nations and the role of President Harry S.

25 Truman in the founding of the United Nations,
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1 during a 1-year period beginning in 1996, the

2 Secretary shall issue—

3 (i) not more than 75,000 $5 coins,

4 each of which shall—

5 (I) weigh 8.359 grams;

6 (II) have a diameter of 0.850

7 inches; and

8 (III) contain 90 percent gold and

9 10 percent alloy; and

10 (ii) not more than 350,000 $1 coins,

11 each of which shall—

12 (I) weigh 26.73 grams;

13 (II) have a diameter of 1.500

14 inches; and

15 (III) contain 90 percent silver

16 and 10 percent alloy.

17 (B) SURCHARGES.—All sales of the coins

18 issued under this subsection shall include a sur19 charge of $35 per coin for each $5 coin, and a

20 surcharge of $10 per coin for each $1 coin.

21 (C) DISTRIBUTION OF SURCHARGES.—All

22 surcharges received by the Secretary from the

23 sale of coins issued under this subsection shall

24 be promptly paid by the Secretary in accord25 ance with the following:
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1 (i) Fifty percent of the surcharges re2 ceived shall be paid to the Harry S. Tru3 man Library Foundation.

4 (ii) Fifty percent of the surcharges re5 ceived shall be paid to the United Nations

6 Association.

7 (3) SMITHSONIAN INSTITUTION.—

8 (A) IN GENERAL.—To commemorate the

9 150th anniversary of the founding of the

10 Smithsonian Institution, during a 1-year period

11 beginning in August 1996, the Secretary shall

12 issue—

13 (i) not more than 100,000 $5 coins,

14 each of which shall—

15 (I) weigh 8.359 grams;

16 (II) have a diameter of 0.850

17 inches; and

18 (III) contain 90 percent gold and

19 10 percent alloy; and

20 (ii) not more than 800,000 $1 coins,

21 each of which shall—

22 (I) weigh 26.73 grams;

23 (II) have a diameter of 1.500

24 inches; and
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1 (III) contain 90 percent silver

2 and 10 percent alloy.

3 (B) SURCHARGES.—All sales of the coins

4 issued under this subsection shall include a sur5 charge of $35 per coin for each $5 coin, and a

6 surcharge of $10 per coin for each $1 coin.

7 (C) DISTRIBUTION OF SURCHARGES.—All

8 surcharges received by the Secretary from the

9 sale of coins issued under this subsection shall

10 be promptly paid by the Secretary to the Smith11 sonian Institution to be used to support the Na12 tional Numismatic Collection at the National

13 Museum of American History.

14 (D) DESIGN.—The design of the coins is15 sued under this subsection shall be emblematic

16 of the scientific, educational, and cultural sig17 nificance and importance of the Smithsonian

18 Institution. Each coin issued under this sub19 section shall include an inscription of the fol20 lowing words from the original bequest of

21 James Smithson: ‘‘for the increase and diffu22 sion of knowledge’’.

23 (4) FRANKLIN DELANO ROOSEVELT.—

24 (A) IN GENERAL.—To commemorate the

25 public opening of the Franklin Delano Roo-
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1 sevelt Memorial in Washington, D.C., which will

2 honor President Roosevelt’s leadership and leg3 acy, during a 1-year period beginning in 1997,

4 the Secretary shall issue not more than 100,000

5 $5 coins, each of which shall—

6 (i) weigh 8.359 grams;

7 (ii) have a diameter of 0.850 inches;

8 and

9 (iii) contain 90 percent gold and 10

10 percent alloy.

11 (B) SURCHARGES.—All sales of the coins

12 issued under this subsection shall include a sur13 charge of $35 per coin.

14 (C) DISTRIBUTION OF SURCHARGES.—All

15 surcharges received by the Secretary from the

16 sale of coins issued under this subsection shall

17 be promptly paid by the Secretary to the

18 Franklin Delano Roosevelt Memorial Commis19 sion.

20 (5) YELLOWSTONE NATIONAL PARK.—

21 (A) IN GENERAL.—To commemorate the

22 125th anniversary of the establishment of Yel23 lowstone National Park as the first national

24 park in the United States, and the birth of the

25 national park idea, during a 1-year period be-
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1 ginning in 1997, the Secretary shall issue not

2 more than 500,000 $1 coins, each of which

3 shall—

4 (i) weigh 26.73 grams;

5 (ii) have a diameter of 1.500 inches;

6 and

7 (iii) contain 90 percent silver and 10

8 percent alloy.

9 (B) SURCHARGES.—All sales of the coins

10 issued under this subsection shall include a sur11 charge of $10 per coin.

12 (C) DISTRIBUTION OF SURCHARGES.—All

13 surcharges received by the Secretary from the

14 sale of coins issued under this subsection shall

15 be promptly paid by the Secretary in accord16 ance with the following:

17 (i) Fifty percent of the surcharges re18 ceived shall be paid to the National Park

19 Foundation to be used for the support of

20 national parks.

21 (ii) Fifty percent of the surcharges re22 ceived shall be paid to Yellowstone Na23 tional Park.

24 (6) NATIONAL LAW ENFORCEMENT OFFICERS

25 MEMORIAL.—
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1 (A) IN GENERAL.—To recognize the sac2 rifice of law enforcement officers and their fam3 ilies in preserving public safety, during a 1-year

4 period beginning in 1997, the Secretary shall

5 issue not more than 500,000 $1 coins, each of

6 which shall—

7 (i) weigh 26.73 grams;

8 (ii) have a diameter of 1.500 inches;

9 and

10 (iii) contain 90 percent silver and 10

11 percent alloy.

12 (B) SURCHARGES.—All sales of the coins

13 issued under this subsection shall include a sur14 charge of $10 per coin.

15 (C) DISTRIBUTION OF SURCHARGES.—

16 After receiving surcharges from the sale of the

17 coins issued under this subsection, the Sec18 retary shall transfer to the Secretary of the In19 terior an amount equal to the surcharges re20 ceived from the sale of the coins issued under

21 this subsection, which amount shall be depos22 ited in the Fund established under section 201.

23 (D) AVAILABILITY.—The coins issued

24 under this subsection shall be available for issu25 ance not later than May 1997.
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1 SEC. 102. DESIGN.

2 (a) SELECTION.—The design for each coin issued

3 under this Act shall be—

4 (1) selected by the Secretary after consultation

5 with the appropriate recipient organization or orga6 nizations and the Commission of Fine Arts; and

7 (2) reviewed by the Citizens Commemorative

8 Coin Advisory Committee.

9 (b) DESIGNATION AND INSCRIPTIONS.—On each coin

10 issued under this Act there shall be—

11 (1) a designation of the value of the coin;

12 (2) an inscription of the year; and

13 (3) inscriptions of the words ‘‘Liberty’’, ‘‘In

14 God We Trust’’, ‘‘United States of America’’, and

15 ‘‘E Pluribus Unum’’.

16 SEC. 103. LEGAL TENDER.

17 The coins issued under this Act shall be legal tender,

18 as provided in section 5103 of title 31, United States

19 Code.

20 SEC. 104. SOURCES OF BULLION.

21 (a) GOLD.—The Secretary shall obtain gold for mint22 ing coins under this Act pursuant to the authority of the

23 Secretary under other provisions of law.

24 (b) SILVER.—The Secretary shall obtain silver for

25 minting coins under this Act from sources the Secretary

26 determines to be appropriate, including stockpiles estab-
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1 lished under the Strategic and Critical Materials Stock

2 Piling Act.

3 SEC. 105. SALE PRICE.

4 Each coin issued under this Act shall be sold by the

5 Secretary at a price equal to the sum of—

6 (1) the face value of the coin;

7 (2) the surcharge provided in section 101 with

8 respect to the coin;

9 (3) the cost of designing and issuing the coin

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

11 overhead expenses, marketing, and shipping); and

12 (4) the estimated profit determined under sec13 tion 106(b) with respect to the coin.

14 SEC. 106. DETERMINATION OF COSTS AND PROFIT.

15 (a) DETERMINATION OF COSTS.—With respect to the

16 coins issued under this Act, the Secretary shall, on an on17 going basis, determine—

18 (1) the costs incurred in carrying out each coin

19 program authorized under this Act; and

20 (2) the allocation of overhead costs among all

21 coin programs authorized under this Act.

22 (b) DETERMINATION OF PROFIT.—Prior to the sale

23 of each coin issued under this Act, the Secretary shall cal24 culate the estimated profit to be included in the sale price

25 of the coin under section 105(4).
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1 SEC. 107. GENERAL WAIVER OF PROCUREMENT REGULA2 TIONS.

3 Section 5112(j) of title 31, United States Code, shall

4 apply to the procurement of goods or services necessary

5 to carrying out the programs and operations of the United

6 States Mint under this Act.

7 SEC. 108. PROHIBITION ON JUDICIAL REVIEW.

8 Each determination made by the Secretary in imple9 menting a commemorative coin program under this Act

10 shall be made in the sole discretion of the Secretary and

11 shall not be subject to judicial review.

12 SEC. 109. AUDITS.

13 The Comptroller General of the United States shall

14 have the right to examine such books, records, documents,

15 and other data of each recipient organization as may be

16 related to the expenditures of amounts paid under section

17 101.

18 SEC. 110. FINANCIAL ASSURANCES.

19 It is the sense of the Congress that each coin program

20 authorized under this Act should be self-sustaining and

21 should be administered so as not to result in any net cost

22 to the Numismatic Public Enterprise Fund.
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1 TITLE II—NATIONAL LAW EN2 FORCEMENT OFFICERS ME3 MORIAL MAINTENANCE FUND

4 SEC. 201. NATIONAL LAW ENFORCEMENT OFFICERS MEMO5 RIAL MAINTENANCE FUND.

6 (a) ESTABLISHMENT.—

7 (1) IN GENERAL.—There is established the Na8 tional Law Enforcement Officers Memorial Mainte9 nance Fund, which shall be a revolving fund admin10 istered by the Secretary of the Interior (or the des11 ignee of the Secretary of the Interior).

12 (2) FUNDING.—Amounts in the Fund shall in13 clude—

14 (A) amounts deposited in the Fund under

15 section 101(6); and

16 (B) any donations received under para17 graph (3).

18 (3) DONATIONS.—The Secretary of the Interior

19 may accept donations to the Fund.

20 (4) INTEREST-BEARING ACCOUNT.—The Fund

21 shall be maintained in an interest-bearing account

22 within the Treasury of the United States.

23 (b) PURPOSES.—The Fund shall be used—
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1 (1) for the maintenance and repair of the Na2 tional Law Enforcement Officers Memorial in Wash3 ington, D.C.;

4 (2) to periodically add the names of law en5 forcement officers who have died in the line of duty

6 to the National Law Enforcement Officers Memo7 rial;

8 (3) for the security of the National Law En9 forcement Officers Memorial site, including the post10 ing of National Park Service rangers and United

11 States Park Police, as appropriate;

12 (4) at the discretion of the Secretary of the In13 terior and in consultation with the Secretary and the

14 Attorney General of the United States, who shall es15 tablish an equitable procedure between the Fund

16 and such other organizations as may be appropriate,

17 to provide educational scholarships to the immediate

18 family members of law enforcement officers killed in

19 the line of duty whose names appear on the National

20 Law Enforcement Officers Memorial, the total an21 nual amount of such scholarships not to exceed 10

22 percent of the annual income of the Fund;

23 (5) for the dissemination of information regard24 ing the National Law Enforcement Officers Memo25 rial to the general public;
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1 (6) to administer the Fund, including contract2 ing for necessary services, in an amount not to ex3 ceed the lesser of—

4 (A) 10 percent of the annual income of the

5 Fund; or

6 (B) $200,000 during any 1-year period;

7 and

8 (7) at the discretion of the Secretary of the In9 terior, in consultation with the Fund, for appro10 priate purposes in the event of an emergency affect11 ing the operation of the National Law Enforcement

12 Officers Memorial, except that, during any 1-year

13 period, not more than $200,000 of the principal of

14 the Fund may be used to carry out this paragraph.

15 (c) BUDGET AND AUDIT TREATMENT.—The Fund

16 shall be subject to the budget and audit provisions of chap17 ter 91 of title 31, United States Code.

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