50 States Commemorative Coin Program Act

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``50 States Commemorative Coin Program 
Act''.

SEC. 2. FINDINGS.

    The Congress hereby finds the following:
            (1) It is appropriate and timely to--
                    (A) honor the unique Federal republic of 50 States 
                that comprise the United States; and
                    (B) promote the diffusion of knowledge among the 
                youth of the United States about the individual States, 
                their history and geography, and the rich diversity of 
                the national heritage.
            (2) The circulating coinage of the United States has not 
        been modernized within the past 25 years.
            (3) A circulating commemorative 25-cent coin program could 
        produce earnings of $110,000,000 over the 10-year period of 
        issuance and would produce indirect earnings of an estimated 
        $3,400,000,000 to the United States Treasury, money that will 
        replace borrowing to fund the national debt to at least that 
        extent.
            (4) It is appropriate to launch a commemorative circulating 
        coin program that encourages young people and their families to 
        collect memorable tokens of all the States for the face value 
        of the coins.

SEC. 3. ISSUANCE OF REDESIGNED QUARTER DOLLARS OVER 10-YEAR PERIOD 
              COMMEMORATING EACH OF THE 50 STATES.

    Section 5112 of title 31, United States Code, is amended by adding 
at the end the following new subsection:
    ``(k) Redesign and Issuance of Quarter Dollar in Commemoration of 
Each of the 50 States.--
            ``(1) In general.--Notwithstanding the 4th sentence of 
        subsection (d)(1) and subsection (d)(2), quarter dollar coins 
        issued during the 10-year period beginning on January 1, 1997, 
        shall have designs selected in accordance with this subsection 
        which are emblematic of the 50 States.
            ``(2) Single state designs.--The design for each quarter 
        dollar issued during the 10-year period referred to in 
        paragraph (1) shall be emblematic of 1 of the 50 States.
            ``(3) Issuance of coins commemorating 5 states during each 
        of the 10 years.--
                    ``(A) In general.--The designs for the quarter 
                dollar coins issued during each year of the 10-year 
                period referred to in paragraph (1) shall be emblematic 
                of 5 States which have not previously been commemorated 
                during such period.
                    ``(B) Number of each of 5 coin designs in each 
                year.--Of the quarter dollar coins issued during each 
                year (of the 10-year period referred to in paragraph 
                (1)), the Secretary of the Treasury shall prescribe, on 
                the basis of such factors as the Secretary determines 
                to be appropriate, the number of quarter dollars which 
                shall be issued with each of the 5 designs selected for 
                such year.
            ``(4) Selection of design.--Each of the 50 designs required 
        under this subsection for quarter dollars shall be--
                    ``(A) selected by the Secretary after consultation 
                with appropriate officials of the State being 
                commemorated with such design and the Commission of 
                Fine Arts; and
                    ``(B) reviewed by the Citizens Commemorative Coin 
                Advisory Committee.
            ``(5) Treatment as numismatic items.--For purposes of 
        sections 5134 and 5136, all coins minted under this subsection 
        shall be considered to be numismatic items.
            ``(6) Numismatic items.--
                    ``(A) Quality of coins.--The Secretary may mint and 
                issue such number of quarter dollars of each design 
                selected under paragraph (4) in uncirculated and proof 
                qualities as the Secretary determines to be 
                appropriate.
                    ``(B) Silver coins.--Notwithstanding subsection 
                (b), the Secretary may mint and issue such number of 
                quarter dollars of each design selected under paragraph 
                (4) as the Secretary determines to be appropriate with 
                a content of 90 percent silver and 10 percent copper.
                    ``(C) Sources of bullion.--The Secretary shall 
                obtain silver for minting coins under subparagraph (B) 
                only from stockpiles established under the Strategic 
                and Critical Materials Stock Piling Act.
                    ``(D) Sale price of coins.--The coins issued under 
                this paragraph shall be sold by the Secretary at a 
                price equal to the sum of the face value of the coins 
                and the cost of designing and issuing the coins 
                (including labor, materials, dies, use of machinery, 
                overhead expenses, marketing, profit, and shipping).
            ``(7) Application in event of the admission of additional 
        states.--If any additional State is admitted into the Union 
        before the end of the 10-year period referred to in paragraph 
        (1), the Secretary of the Treasury may issue quarter dollar 
        coins, in accordance with this subsection, with a design which 
        is emblematic of such State during any 1 year of such 10-year 
        period, in addition to the quarter dollar coins issued during 
        such year in accordance with paragraph (3)(A).''.

SEC. 4. FIXED TERMS FOR MEMBERS OF THE CITIZENS COMMEMORATIVE COIN 
              ADVISORY COMMITTEE.

    (a) In General.--Paragraph (4) of section 5135(a) of title 31, 
United States Code, is amended to read as follows:
            ``(4) Terms.--
                    ``(A) In general.--Each individual appointed to the 
                Advisory Committee under clause (i) or (iii) of 
                paragraph (3)(A) shall be appointed for a term of 4 
                years.
                    ``(B) Interim appointments.--Any member appointed 
                to fill a vacancy occurring before the expiration of 
                the term for which such member's predecessor was 
                appointed shall be appointed only for the remainder of 
                such term.
                    ``(C) Continuation of service.--Each member 
                appointed under clause (i) or (iii) of paragraph (3)(A) 
                may continue to serve after the expiration of the term 
                to which such member was appointed until a successor 
                has been appointed and qualified.''.
    (b) Staggered Terms.--Of the members appointed to the Citizens 
Commemorative Coin Advisory Committee under clause (i) or (iii) of 
paragraph (3)(A) of section 5135 of title 31, United States Code, who 
are serving on the Advisory Committee as of the date of the enactment 
of this Act--
            (1) 1 member appointed under clause (i) and 1 member 
        appointed under clause (iii), as designated by the Secretary of 
        the Treasury, shall be deemed to have been appointed to a term 
        which ends on December 31, 1997;
            (2) 1 member appointed under clause (i) and 1 member 
        appointed under clause (iii), as designated by the Secretary of 
        the Treasury, shall be deemed to have been appointed to a term 
        which ends on December 31, 1998; and
            (3) 1 member appointed under clause (i) and 1 member 
        appointed under clause (iii), as designated by the Secretary of 
        the Treasury, shall be deemed to have been appointed to a term 
        which ends on December 31, 1999.
    (c) Status of Members.--The members appointed to the Citizens 
Commemorative Coin Advisory Committee under clause (i) or (iii) of 
paragraph (3)(A) of section 5135 of title 31, United States Code, shall 
not be treated as special Government employees.

            Passed the House of Representatives September 4, 1996.

            Attest:

                                                ROBIN H. CARLE,

                                                                 Clerk.

Summary: 50 States Commemorative Coin Program Act - Amends Federal law to: (1) mandate redesign of quarter-dollar coins issued between January 1, 1997, and January 1, 2007, to commemorate each of the 50 States (including any additional State admitted into the Union before the end of such ten-year period); and (2) set fixed, four-year terms for members of the Citizens Commemorative Coin Advisory Committee.