II

Calendar No. 706

106TH CONGRESS

2D SESSION S. 2266

[Report No. 106–355]

To provide for the minting of commemorative coins to support the 2002

Salt Lake Olympic Winter Games and the programs of the United

States Olympic Committee.

IN THE SENATE OF THE UNITED STATES

MARCH 22, 2000

Mr. BENNETT (for himself, Mr. HATCH, Mr. ABRAHAM, Mr. AKAKA, Mr. ALLARD, Mr. ASHCROFT, Mr. BIDEN, Mr. BOND, Mrs. BOXER, Mr.

BROWNBACK, Mr. BREAUX, Mr. BRYAN, Mr. BUNNING, Mr. BYRD, Mr.

BURNS, Mr. CAMPBELL, Mr. L. CHAFEE, Mr. COCHRAN, Ms. COLLINS,

Mr. CONRAD, Mr. COVERDELL, Mr. CRAIG, Mr. CRAPO, Mr. DEWINE,

Mr. DODD, Mr. DOMENICI, Mr. DORGAN, Mr. ENZI, Mr. FEINGOLD, Mrs.

FEINSTEIN, Mr. FITZGERALD, Mr. GORTON, Mr. GRAHAM, Mr. GRASSLEY, Mr. HAGEL, Mr. HATCH, Mr. HELMS, Mrs. HUTCHISON, Mr.

INHOFE, Mr. JEFFORDS, Mr. JOHNSON, Mr. KERREY, Mr. KOHL, Mr.

LEAHY, Mr. LEVIN, Mr. LOTT, Mr. LUGAR, Mr. MACK, Mr. MCCONNELL, Ms. MIKULSKI, Mr. MURKOWSKI, Mrs. MURRAY, Mr. NICKLES,

Mr. REID, Mr. ROBB, Mr. ROBERTS, Mr. ROCKEFELLER, Mr. ROTH, Mr.

SCHUMER, Mr. SMITH of New Hampshire, Mr. SMITH of Oregon, Ms.

SNOWE, Mr. SPECTER, Mr. STEVENS, Mr. THOMAS, Mr. THOMPSON, Mr.

THURMOND, Mr. TORRICELLI, Mr. VOINOVICH, Mr. WARNER, Mr.

WELLSTONE, and Mr. WYDEN) introduced the following bill; which was

read twice and referred to the Committee on Banking, Housing, and

Urban Affairs

JULY 24 (legislative day, JULY 21), 2000

Reported by Mr. GRAMM, with an amendment

[Omit the part struck through]
2

•S 2266 RS

A BILL

To provide for the minting of commemorative coins to support the 2002 Salt Lake Olympic Winter Games and

the programs of the United States Olympic Committee.

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 ‘‘2002 Winter Olympic

5 Commemorative Coin Act’’.

6 SEC. 2. COIN SPECIFICATIONS.

7 (a) DENOMINATIONS.—The Secretary of the Treas8 ury (hereafter in this Act referred to as the ‘‘Secretary’’)

9 shall mint and issue the following coins:

10 (1) FIVE DOLLAR GOLD COINS.—Not more than

11 80,000 $5 coins, which shall weigh 8.359 grams,

12 have a diameter of 0.850 inches, and contain 90 per13 cent gold and 10 percent alloy.

14 (2) ONE DOLLAR SILVER COINS.—Not more

15 than 400,000 $1 coins, which shall weigh 26.73

16 grams, have a diameter of 1.500 inches, and contain

17 90 percent silver and 10 percent copper.

18 (b) DESIGN.—The design of the coins minted under

19 this Act shall be emblematic of the participation of Amer20 ican athletes in the 2002 Olympic Winter Games. On each

21 coin there shall be a designation of the value of the coin,
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1 an inscription of the year ‘‘2002’’, and inscriptions of the

2 words ‘‘Liberty’’, ‘‘In God We Trust’’, ‘‘United States of

3 America’’, and ‘‘E Pluribus Unum’’.

4 (c) LEGAL TENDER.—The coins minted under this

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

6 title 31, United States Code.

7 (d) NUMISMATIC ITEMS.—For purposes of section

8 5134 of title 31, United States Code, all coins minted

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

10 SEC. 3. SOURCES OF BULLION.

11 (a) GOLD.—The Secretary shall obtain gold for mint12 ing coins under this Act pursuant to the authority of the

13 Secretary under other provisions of law.

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

15 minting coins under this Act from any available source,

16 including from stockpiles established under the Strategic

17 and Critical Materials Stock Piling Act.

18 SEC. 4. SELECTION OF DESIGN.

19 The design for the coins minted under this Act shall

20 be—

21 (1) selected by the Secretary after consultation

22 with—

23 (A) the Commission of Fine Arts;

24 (B) the United States Olympic Committee;

25 and
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1 (C) Olympic Properties of the United

2 States—Salt Lake 2002, L.L.C., a Delaware

3 limited liability company created and owned by

4 the Salt Lake Organizing Committee for the

5 Olympic Winter Games of 2002 (hereafter in

6 this Act referred to as the ‘‘Olympic Properties

7 of the United States’’); and

8 (2) reviewed by the Citizens Commemorative

9 Coin Advisory Committee.

10 SEC. 5. ISSUANCE OF COINS.

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

12 Act shall be issued in uncirculated and proof qualities.

13 (b) COMMENCEMENT OF ISSUANCE.—The Secretary

14 may issue coins minted under this Act beginning January

15 1, 2002, except that the Secretary may initiate sales of

16 such coins, without issuance, before such date.

17 (c) TERMINATION OF MINTING AUTHORITY.—No

18 coins shall be minted under this Act after December 31,

19 2002.

20 SEC. 6. SALE OF COINS.

21 (a) SALE PRICE.—Notwithstanding any other provi22 sion of law, the coins issued under this Act shall be sold

23 by the Secretary at a price equal to the face value, plus

24 the cost of designing and issuing such coins (including
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1 labor, materials, dies, use of machinery, overhead ex2 penses, and marketing).

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

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

5 discount.

6 (c) PREPAID ORDERS AT A DISCOUNT.—The Sec7 retary shall accept prepaid orders for the coins minted

8 under this Act before the issuance of such coins. Sales

9 under this subsection shall be at a reasonable discount.

10 (d) MARKETING.—The Secretary, in cooperation with

11 the Olympic Properties of the United States, shall develop

12 and implement a marketing program to promote and sell

13 the coins issued under this Act both within the United

14 States and internationally.

15 SEC. 7. SURCHARGE.

16 (a) SURCHARGE REQUIRED.—All sales of coins

17 issued under this Act shall include a surcharge of $35 per

18 coin for the $5 coins and $10 per coin for the $1 coins.

19 (b) DISTRIBUTION.—Subject to section 5134(f) of

20 title 31, United States Code, all surcharges received by

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

22 shall be promptly paid by the Secretary as follows:

23 (1) SALT LAKE ORGANIZING COMMITTEE FOR

24 THE OLYMPIC WINTER GAMES OF 2002.—One half to

25 the Salt Lake Organizing Committee for the Olym-
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1 pic Winter Games of 2002 for use in staging and

2 promoting the 2002 Salt Lake Olympic Winter

3 Games.

4 (2) UNITED STATES OLYMPIC COMMITTEE.—

5 One half to the United States Olympic Committee

6 for use by the Committee for the objects and pur7 poses of the Committee, as established in the Ama8 teur Sports Act of 1978.

9 (c) AUDITS.—Each organization that receives any

10 payment from the Secretary under this section shall be

11 subject to the audit requirements of section 5134(f)(2) of

12 title 31, United States Code.

Calendar No. 706

106TH CONGRESS

2D SESSION S. 2266

[Report No. 106–355]

A BILL

To provide for the minting of commemorative coins

to support the 2002 Salt Lake Olympic WinterGames and the programs of the United StatesOlympic Committee.

JULY 24 (legislative day, JULY 21), 2000

Reported with an amendment