National Association for Stock Car Auto Racing (NASCAR) 75th Anniversary Commemorative Coin Act

Subjects: Finance and Financial Sector


<html><body><pre>[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2838 Introduced in House (IH)]

&lt;DOC&gt;






118th CONGRESS
  1st Session
                                H. R. 2838

To require the Secretary of the Treasury to mint coins in commemoration 
of the 75th anniversary of what is recognized as the first sanctioning 
   body created to promote a unified series of competitions, with an 
organized group of race car drivers. The first such recognized race was 
 held at Daytona Beach on February 15, 1948, under the sanctioning of 
    the ``National Association for Stock Car Auto Racing'' (NASCAR).


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 25, 2023

Mr. Graves of Louisiana (for himself and Mr. Jackson of North Carolina) 
 introduced the following bill; which was referred to the Committee on 
Financial Services, and in addition to the Committee on the Budget, for 
a period to be subsequently determined by the Speaker, in each case for 
consideration of such provisions as fall within the jurisdiction of the 
                          committee concerned

_______________________________________________________________________

                                 A BILL


 
To require the Secretary of the Treasury to mint coins in commemoration 
of the 75th anniversary of what is recognized as the first sanctioning 
   body created to promote a unified series of competitions, with an 
organized group of race car drivers. The first such recognized race was 
 held at Daytona Beach on February 15, 1948, under the sanctioning of 
    the ``National Association for Stock Car Auto Racing'' (NASCAR).

    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 ``National Association for Stock Car 
Auto Racing (NASCAR) 75th Anniversary Commemorative Coin Act''.

SEC. 2. FINDINGS.

    This Congress finds the following:
            (1) On February 15, 2023, the National Association for 
        Stock Car Auto Racing (NASCAR) observed the 75th anniversary of 
        the first race hosted by a sanctioning body, held at Daytona 
        Beach, Florida.
            (2) In December 1947, Bill France, Sr., organized several 
        meetings at the Streamline Hotel in Daytona Beach, Florida, at 
        which time his vision of an organized group of race car drivers 
        was conceived.
            (3) On February 15, 1948, Red Bryon won the first 
        sanctioned body event, defeating Marshall Teague on the Daytona 
        Beach road course.
            (4) More than 41,000 fans attended the Inaugural Daytona 
        500 on February 22, 1959, won by Lee Petty.
            (5) At the Jacksonville, Florida, Speedway on December 1, 
        1963, Wendell Scott became the first Black driver to win a 
        NASCAR sanctioned race.
            (6) In 1977, Janet Guthrie became the first woman to 
        compete in the Daytona 500.
            (7) On February 18, 1979, CBS televised the first live 
        coverage of the Daytona 500.
            (8) In August 1994, the Indianapolis Motor Speedway was 
        added to the race schedule.
            (9) Betty Jane France founded The NASCAR Foundation in 
        2006, supporting causes that work to improve the lives of 
        children in need.
            (10) On May 23, 2020, the inaugural NASCAR Hall of Fame 
        class (Bill France, Sr., Bill France, Jr., Richard Petty, Dale 
        Earnhardt, and Junior Johnson) is inducted in Charlotte, North 
        Carolina.
            (11) Danica Patrick becomes the first female to win a pole 
        in the Daytona 500 in 2013.
            (12) Jimmie Johnson makes history with his record-tying 
        seventh race championship on November 20, 2016.
            (13) Before a sold-out crowd of 101,500 fans at the Daytona 
        International Speedway on February 20, 2022, the Next-Gen car 
        debuted in the 64th annual Daytona 500.
            (14) NASCAR has grown from the small organization formed on 
        the sands of Daytona Beach to one of the most popular sports in 
        the world.

SEC. 3. COIN SPECIFICATIONS.

    (a) $1 Silver Coins.--The Secretary of the Treasury (hereafter in 
this Act referred to as the ``Secretary'') shall mint and issue $1 
coins in recognition of the NASCAR 75th anniversary, which shall--
            (1) weigh 26.73 grams;
            (2) have a diameter of 1.500 inches; and
            (3) contain not less than 90 percent silver.
    (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.

SEC. 4. DESIGNS OF COINS.

    (a) Design Requirements.--
            (1) In general.--The design of coins minted under this Act 
        shall be emblematic of the National Association for Stock Car 
        Auto Racing and the competitive spirit of American auto racing 
        enthusiasts.
            (2) Designs and inscriptions.--On the coin minted under 
        this Act, there shall be--
                    (A) a designation of the value of the coin;
                    (B) an inscription of the year ``2023''; and
                    (C) inscriptions of the words ``Liberty'', ``In God 
                We Trust'', ``United States of America'', and ``E 
                Pluribus Unum''.
    (b) Selection.--The designs for the coins minted under this Act 
shall be--
            (1) selected by the Secretary, after consultation with the 
        NASCAR Foundation and the Commission of Fine Arts; and
            (2) reviewed by the Citizens Coinage Advisory Committee.

SEC. 5. ISSUANCE OF COINS.

    (a) Quality of Coins.--Coins minted under this Act shall be issued 
in uncirculated and proof qualities.
    (b) Mint Facility.--Only 1 facility in the United States Mint may 
be used to strike any particular quality of the coins minted under this 
Act.
    (c) Period for Issuance.--The Secretary may issue coins minted 
under this Act only during the 1-year period beginning on January 1, 
2023.

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 $20 per coin for the $1 coin.
    (b) Distribution.--Subject to section 5134(f)(1) of title 31, 
United States Code, all surcharges received by the Secretary from the 
sale of coins issued under this Act shall be promptly paid by the 
Secretary to The NASCAR Foundation for application to general expenses 
associated with the fulfillment of the mission of The NASCAR 
Foundation.
    (c) Audits.--The Comptroller General of the United States shall 
have the right to examine such books, records, documents, and other 
data of each of the organizations referred to in subsection (b) as may 
be related to the expenditures of amounts paid under that subsection.
    (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 a result 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 of the Treasury 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 until the 
        total cost of designing and issuing all of the coins authorized 
        by this Act (including labor, materials, dies, use of 
        machinery, overhead expenses, marketing, 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. BUDGETARY EFFECTS.

    (a) Statutory PAYGO Scorecards.--The budgetary effects of this 
section shall not be entered on either PAYGO Scorecard maintained 
pursuant to section 4(d) of the Statutory Pay-As-You-Go Act of 2010 
(U.S.C. 933(d)).
    (b) Senate PAYGO Scorecards.--The budgetary effects of this section 
shall not be entered on any PAYGO scorecard maintained for purposes of 
section 4105 of H. Con. Res.71 (115th Congress).
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