Thomas Alva Edison Commemorative Coin Act

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Thomas Alva Edison Commemorative 
Coin Act''.

SEC. 2. FINDINGS.

    The Congress finds the following:
        (1) Thomas Alva Edison, one of America's greatest inventors, 
    was born on February 11, 1847, in Milan, Ohio.
        (2) The inexhaustible energy and genius of Thomas A. Edison 
    produced more than 1,300 inventions in his lifetime, including the 
    incandescent light bulb and the phonograph.
        (3) In 1928, Thomas A. Edison received the Congressional gold 
    medal ``for development and application of inventions that have 
    revolutionized civilization in the last century''.
        (4) 2004 will mark the 125th anniversary of the invention of 
    the light bulb by Thomas A. Edison in 1879, the first practical 
    incandescent electric lamp.

SEC. 3. COIN SPECIFICATIONS.

    (a) Denomination.--In commemoration of the 125th anniversary of the 
invention of the light bulb by Thomas A. Edison, the Secretary of the 
Treasury (hereafter in this Act referred to as the ``Secretary'') shall 
mint and issue not more than 500,000 $1 coins, each of which shall--
        (1) weigh 26.73 grams;
        (2) have a diameter of 1.500 inches; and
        (3) contain 90 percent silver and 10 percent copper.
    (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 section 5134 of title 31, 
United States Code, all coins minted under this Act shall be considered 
to be numismatic items.

SEC. 4. SOURCES OF BULLION.

    The Secretary may obtain silver for minting coins under this Act 
from any available source, including stockpiles established under the 
Strategic and Critical Materials Stock Piling Act.

SEC. 5. DESIGN OF COINS.

    (a) Design Requirements.--
        (1) In general.--The design of the coins minted under this Act 
    shall be emblematic of the light bulb and the many inventions made 
    by Thomas A. Edison throughout his prolific life.
        (2) Designation and inscriptions.--On each coin minted under 
    this Act there shall be--
            (A) a designation of the value of the coin; and
            (B) inscriptions of the words ``Liberty'', ``In God We 
        Trust'', ``United States of America'', and ``E Pluribus Unum''.
        (3) Obverse of coin.--The obverse of each coin minted under 
    this Act shall bear the likeness of Thomas A. Edison.
    (b) Selection.--The design 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 Commemorative Coin Advisory 
    Committee.

SEC. 6. ISSUANCE OF COINS.

    (a) Quality of Coins.--Coins minted under this Act shall be issued 
in uncirculated and proof qualities.
    (b) Commencement of Issuance.--The Secretary may issue coins minted 
under this Act beginning on January 1, 2004.
    (c) Termination of Minting Authority.--No coins may be minted under 
this Act after December 31, 2004.

SEC. 7. SURCHARGES.

    (a) In General.--All sales of coins minted under this Act shall 
include a surcharge of $10 per coin.
    (b) Distribution.--Subject to section 5134(f) of title 31, United 
States Code, the first $5,000,000 of the surcharges received by the 
Secretary from the sale of coins issued under this Act shall be paid by 
the Secretary as follows:
        (1) Museum of arts and history.--Up to \1/8\ to the Museum of 
    Arts and History, in the city of Port Huron, Michigan, for the 
    endowment and construction of a special museum on the life of 
    Thomas A. Edison in Port Huron.
        (2) Edison birthplace association.--Up to \1/8\ to the Edison 
    Birthplace Association, Incorporated, in Milan, Ohio, to assist in 
    the efforts of the association to raise an endowment as a permanent 
    source of support for the repair and maintenance of the Thomas A. 
    Edison birthplace, a national historic landmark.
        (3) National park service.--Up to \1/8\ to the National Park 
    Service, for use in protecting, restoring, and cataloguing historic 
    documents and objects at the ``invention factory'' of Thomas A. 
    Edison in West Orange, New Jersey.
        (4) Edison plaza museum.--Up to \1/8\ to the Edison Plaza 
    Museum in Beaumont, Texas, for expanding educational programs on 
    Thomas A. Edison and for the repair and maintenance of the museum.
        (5) Edison winter home and museum.--Up to \1/8\ to the Edison 
    Winter Home and Museum in Fort Myers, Florida, for historic 
    preservation, restoration, and maintenance of the historic home and 
    chemical laboratory of Thomas A. Edison.
        (6) Edison institute.--Up to \1/8\ to the Edison Institute, 
    otherwise known as ``Greenfield Village'', in Dearborn, Michigan, 
    for use in maintaining and expanding displays and educational 
    programs associated with Thomas A. Edison.
        (7) Edison memorial tower.--Up to \1/8\ to the Edison Memorial 
    Tower in Edison, New Jersey, for the preservation, restoration, and 
    expansion of the tower and museum.
        (8) Hall of electrical history.--Up to \1/8\ to the Schenectady 
    Museum Association in Schenectady, New York, for the historic 
    preservation of materials of Thomas A. Edison and for the 
    development of educational programs associated with Thomas A. 
    Edison.
    (c) Audits.--Each organization that receives any payment from the 
Secretary under this section shall be subject to the audit requirements 
of section 5134(f)(2) of title 31, United States Code.

                               Speaker of the House of Representatives.

                            Vice President of the United States and    
                                               President of the Senate.

Summary: Thomas Alva Edison Commemorative Coin Act - Directs the Secretary of the Treasury to mint one-dollar silver coins emblematic of the light bulb and the many inventions made by Thomas A. Edison throughout his prolific life.  Mandates that:  (1) the obverse side of the coins bear the likeness of Thomas A. Edison; and (2) coin design be selected by the Secretary and reviewed by the Citizens Commemorative Coin Advisory Committee. 
Terminates the authority to mint such coins after December 31, 2004.  Requires that certain surcharges received from coin sales be distributed to specified entities.