I 
118TH CONGRESS 
1ST SESSION H. R. 2929 
To require the Secretary of the Treasury to mint commemorative coins in 
recognition of the 100th anniversary of the Fleet Reserve Association. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 27, 2023 
Mr. BILIRAKIS (for himself and Mr. GARAMENDI) introduced the following bill; 
which was referred to the Committee on Financial Services 
A BILL 
To require the Secretary of the Treasury to mint commemo-
rative coins in recognition of the 100th anniversary of 
the Fleet Reserve Association. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Fleet Reserve Associa-
tion 100th Anniversary Act’’. 
SEC. 2. FINDINGS. 
The Congress finds the following: 
(1) On November 11, 1924, the Fleet Reserve 
Association (FRA) was founded by Navy Chief Yeo-
man George L. Carlin and chartered in 1924 in 
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Philadelphia, Pennsylvania. FRA was born out of 
the need for an organization to protect the pay and 
benefits of enlisted Sea Service members and their 
families. 
(2) The Fleet Reserve Association (FRA) is a 
congressionally chartered, non-profit organization 
that represents the interests of the Sea Service com-
munity. Although the association was originally 
named for the Navy’s Fleet Reserve program, mem-
bership in FRA is open to all current and former 
sailors, marines, and Coast Guard personnel. 
(3) In 1930, FRA-proposed legislation was en-
acted that authorizes a death gratuity benefit of six 
months basic pay to the estates of recalled Fleet Re-
servists who subsequently die on active duty. 
(4) In 1932, FRA was successful in exempting 
enlisted personnel from Great Depression-era pay 
cuts that deferred pay for Federal employees by 8 
to 20 percent. 
(5) In 1934, FRA regained two-thirds of the 15 
percent pay cut authorized in the Economy Act of 
1933. The remaining 5 percent was restored in 
1935. 
(6) In 1935, FRA was successful in obtaining 
eligibility for Navy retirees and Fleet Reservists to 
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receive emergency care in veterans’ hospitals in 
areas where military facilities were not available. 
(7) In 1937, FRA helped advance legislation 
that authorized commissary privileges for military 
widows. 
(8) In 1946, FRA was successful in estab-
lishing equity in disability compensation for disabled 
peacetime veterans with their wartime counterparts. 
(9) In 1950, FRA first proposed legislation to 
provide a survivor benefit program as part of the 
military retirement system. 
(10) In 1972, FRA played a major role in the 
enactment of the Widow’s Equity bill, the precursor 
of today’s Survivor Benefit Plan (SBP) and FRA 
sponsored the Navy’s first Sailors of the Year com-
petition, a tradition that continues today. 
(11) In 1985, FRA became a founding member 
of The Military Coalition when laws threatened to 
significantly cut military retired pay. The FRA is 
one of 12 military and veterans organizations that 
banded together to reverse the potential loss of 22.5 
percent in cost-of-living adjustments (COLA) over a 
seven-year period. 
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(12) In 1986, FRA played a key role in restor-
ing full cost-of-living adjustments (COLA) for mili-
tary retirees. 
(13) In 1996, FRA became federally chartered 
as part of the National Defense Authorization Act 
for Fiscal Year 1997 (Public Law 104–201). 
(14) In 2002, the Bob Stump National Defense 
Authorization Act for Fiscal Year 2003 (Public Law 
107–314) authorized combat-related special com-
pensation (CRSC) for disabled uniformed services 
retirees wounded in combat, which FRA acknowl-
edged as a significant first step toward full concur-
rent receipt of military retired pay and Department 
of Veterans Affairs disability compensation. 
(15) In 2009, the FRA Education Foundation 
was launched in conjunction with FRA’s 85th anni-
versary. 
(16) In 2013, FRA successfully defeated efforts 
to reduce future cost-of-living adjustments (COLA) 
for military retirees by blocking implementation of 
the chained consumer price index (CPI) in lieu of 
the current consumer price index (CPI). 
(17) November 11, 2024, will mark the 100th 
anniversary of the Fleet Reserve Association. 
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SEC. 3. COIN SPECIFICATIONS. 
(a) DENOMINATIONS.—In recognition and celebration 
of the 100th anniversary of the Fleet Reserve Association, 
the Secretary of the Treasury (hereafter in this Act re-
ferred to as the ‘‘Secretary’’) shall mint and issue the fol-
lowing coins: 
(1) $5 GOLD COINS.—Not more than 50,000 $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 400,000 
$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. 
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(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 numis-
matic items. 
SEC. 4. DESIGNS OF COINS. 
(a) IN GENERAL.—The designs for the coins minted 
under this Act shall be emblematic of the Fleet Reserve 
Association. 
(b) DESIGNATIONS
AND INSCRIPTIONS.—On each 
coin minted under this Act there shall be— 
(1) a designation of the denomination of the 
coin; 
(2) an inscription of the year ‘‘2024’’; 
(3) FRA’s motto: ‘‘Loyalty, Protection, and 
Service’’; and 
(4) 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— 
(A) the Commission of Fine Arts; and 
(B) the National Board of Directors of the 
Fleet Reserve Association, as defined in the 
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constitution and bylaws of the Fleet Reserve 
Association; 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
FOR ISSUANCE.—The Secretary may 
issue coins minted under this Act only during the 1-year 
period beginning on January 1, 2024. 
SEC. 6. SALE OF COINS. 
(a) SALE PRICE.—The coins issued under this Act 
shall be sold by the Secretary at a price based upon 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.— 
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(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 pre-
paid orders under paragraph (1) shall be at a rea-
sonable discount. 
SEC. 7. SURCHARGES. 
(a) IN GENERAL.—All sales of coins minted under 
this Act shall include a surcharge as follows: 
(1) A surcharge of $35 per coin for the $5 coin. 
(2) A surcharge of $10 per coin for the $1 coin 
described under section 3(a)(2). 
(3) A surcharge of $5 per coin for the half-dol-
lar 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 Fleet Re-
serve Association for costs related to— 
(1) promoting the importance of and caring for 
those who have served in uniform, ensuring they re-
ceive proper health care and disability benefits 
earned through military service; 
(2) promoting the importance of, and caring 
for, those who are still serving in the Armed Forces; 
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(3) promoting the importance of maintaining 
the patriotic values, morals, culture, and citizenship 
of the United States; and 
(4) promoting the importance of maintaining 
strong families, assistance for at-risk children, and 
activities that promote their healthy and wholesome 
development. 
(c) 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 pro-
grams issued during such year to exceed the annual com-
memorative coin program issuance limitation under sec-
tion 5112(m)(1) of title 31, United States Code (as in ef-
fect on the date of the enactment of this Act). The Sec-
retary of the Treasury may issue guidance to carry out 
this subsection. 
(d) AUDIT.—The recipient described under sub-
section (b) shall be subject to the audit requirements of 
section 5134(f)(2) of title 31, United States Code, with 
regard to the amounts received under subsection (b). 
SEC. 8. FINANCIAL ASSURANCES. 
The Secretary shall take such actions as may be nec-
essary to ensure that— 
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(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. 
Æ 
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