Sultana Steamboat Disaster Commemorative Coin Act of 2023

Subjects: Finance and Financial Sector


<html><body><pre>[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 668 Introduced in Senate (IS)]

&lt;DOC&gt;






118th CONGRESS
  1st Session
                                 S. 668

  To require the Secretary of the Treasury to mint coins to honor and 
  memorialize the tragedy of the Sultana steamboat explosion of 1865.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 7, 2023

Mr. Boozman (for himself and Mr. Cotton) introduced the following bill; 
which was read twice and referred to the Committee on Banking, Housing, 
                           and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
  To require the Secretary of the Treasury to mint coins to honor and 
  memorialize the tragedy of the Sultana steamboat explosion of 1865.

    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 ``Sultana Steamboat Disaster 
Commemorative Coin Act of 2023''.

SEC. 2. FINDINGS.

    Congress finds the following:
            (1) On April 27, 1865, the Sultana, a Mississippi River 
        paddlewheel steamboat, exploded killing nearly 1,200 of the 
        2,137 passengers and crew on board. Based on the number of 
        recorded casualties, this event is the worst maritime disaster 
        in United States history.
            (2) Those aboard the boat were mostly paroled Union 
        soldiers recently released from the Confederate prisoner-of-war 
        camps in Cahaba, Alabama, and Andersonville, Georgia. These men 
        largely hailed from Ohio, Tennessee, Indiana, Michigan, 
        Kentucky, and West Virginia.
            (3) The Sultana disaster was overshadowed by other major 
        events surrounding the end of the American Civil War, including 
        the assassination of President Abraham Lincoln on April 15, 
        1865, and subsequently, the killing of President Lincoln's 
        assassin, John Wilkes Booth, on April 26, 1865, just 1 day 
        before the Sultana disaster.
            (4) The Sultana Historical Preservation Society now 
        operates the Sultana Disaster Museum in Marion, Arkansas, with 
        artifacts, stories, and exhibits that tell this story. Plans 
        and fundraising are progressing for a much larger facility that 
        can better acquire and preserve the Sultana history.

SEC. 3. COIN SPECIFICATIONS.

    (a) Denominations.--In recognition and remembrance of the tragedy 
of the Sultana steamboat explosion of 1865, which is the greatest 
maritime disaster in United States history, the Secretary of the 
Treasury (hereinafter in this Act referred to as the ``Secretary'') 
shall mint and issue the following coins:
            (1) $5 gold coins.--Not more than 100,000 $5 coins, 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, 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 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.

SEC. 4. DESIGNS OF COIN.

    (a) Design Requirements.--The designs of the coins minted under 
this Act shall be emblematic of the historical significance of the 
Sultana disaster and the sacrifice of the many people of the United 
States who died and survived on April 27, 1865.
    (b) Designation and Inscriptions.--On each coin minted under this 
Act, there shall be--
            (1) a designation of the value of the coin;
            (2) an inscription of the year ``2023''; and
            (3) inscriptions of the words ``Liberty'', ``In God We 
        Trust'', ``United States of America'', and ``E Pluribus Unum''.
    (c) Selection.--The designs for the coins minted under this Act 
shall be--
            (1) selected by the Secretary after consultation with 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) Period of 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) 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.
    (c) Marketing and Educational Campaign.--The Secretary shall 
develop and execute a marketing, promotion, and educational program to 
promote the collecting of the coins authorized under this Act.

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 promptly paid by the Secretary to 
the Sultana Historical Preservation Society for the purpose of 
establishing, operating, and maintaining a museum to tell the story of 
the Sultana, including--
            (1) constructing the museum facility;
            (2) creating, maintaining, and updating as necessary museum 
        exhibits;
            (3) acquiring and preserving artifacts, memorabilia, and 
        historic sites related to the Sultana disaster; and
            (4) maintaining an operational reserve fund for the 
        purposes described in this subsection.
    (c) Audits.--The Sultana Historical Preservation Society shall be 
subject to the audit requirements of section 5134(f) 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 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 the 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.
                                 &lt;all&gt;
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