To require the Secretary of the Treasury to mint coins in commemoration of the Washington National Opera, and for other purposes.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Washington National Opera 
Commemorative Coin Act of 2004''.

SEC. 2. FINDINGS.

    The Congress finds as follows:
            (1) The Washington National Opera has served as the 
        Nation's opera since its creation in 1956.
            (2) In 2000, the Washington Opera was designated the 
        ``National Opera'' by an Act of Congress to reflect the 
        significant national arts leadership role of the Opera.
            (3) The Washington National Opera educates and inspires 
        students of all ages through engaging educational programs and 
        innovative partnerships that broaden public awareness and 
        appreciation for opera and are accessible to people of all 
        abilities through needs-based scholarships and accommodations.
            (4) The education programs of the Washington National Opera 
        strengthen and enhance local, State, and national standards for 
        learning.
            (5) The Washington National Opera has worked since its 
        inception to encourage the development of gifted young American 
        artists.
            (6) It is appropriate to authorize coins commemorating the 
        20th anniversary of the Washington National Opera Education and 
        Community Programs with proceeds from the sale of the coins 
        being deposited for the Washington National Opera Education and 
        Community Program with the specific purpose of aiding in the 
        education of students, broadening awareness and appreciation 
        for opera, and enriching standards for learning.

SEC. 3. COIN SPECIFICATIONS.

    (a) $1 Coins.--The Secretary of the Treasury (hereafter in this Act 
referred to as the ``Secretary'') shall mint and issue not more than 
300,000 $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 5136 of title 31, 
United States Code, all coins minted under this Act shall be considered 
to be numismatic items.

SEC. 4. DESIGN OF COINS.

    (a) Design Requirements.--
            (1) In general.--The design of the coins minted under this 
        Act shall be emblematic of the Washington National Opera.
            (2) Designation and inscriptions.--On each coin minted 
        under this Act, there shall be--
                    (A) a designation of the value of the coin;
                    (B) an inscription of the year ``2010''; and
                    (C) inscriptions of the words ``Liberty'', ``In God 
                We Trust'', ``United States of America'', and ``E 
                Pluribus Unum''.
    (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 the Board of Directors of the 
        Washington National Opera (hereafter in this Act referred to as 
        the ``Board''); and
            (2) reviewed by the Citizens Coinage Advisory Committee 
        established under section 5135 of title 31, United States Code.

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.--Not more than 1 facility of the United States 
Mint may be used to strike the coins minted under this Act.
    (c) Commencement of Issuance.--The Secretary may issue coins minted 
under this Act beginning January 1, 2010, except that the Secretary may 
initiate sales of such coins, without issuance, before such date.
    (d) Termination of Minting Authority.--No coins shall be minted 
under this Act after December 31, 2010.
    (e) First Use of Year 2010 Date.--The coins minted under this Act 
shall be the first commemorative coins of the United States to be 
issued bearing the inscription of the year ``2010''.
    (f) Promotion Consultation.--The Secretary shall consult on a 
regular and frequent basis with the Board in order to establish a role 
for the Board in the promotion, advertising and marketing of the coins 
minted under this Act.

SEC. 6. SALE OF COINS.

    (a) Sale Price.--Notwithstanding any other provision of law, the 
coins issued under this Act shall be sold by the Secretary at a price 
equal to--
            (1) the face value of the coins;
            (2) the surcharge provided in section 7 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 at a Discount.--
            (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) Surcharge Required.--All sales of coins under this Act shall 
include a surcharge of $10 per coin.
    (b) Distribution.--Subject to section 5134(f) of title 31, United 
States Code, all surcharges which are received by the Secretary from 
the sale of coins issued under this Act shall be promptly paid by the 
Secretary to the Board on behalf of the Washington National Opera 
Education and Community Program to be used to aid in the education of 
students, broadening awareness and appreciation for opera, and 
enriching standards for learning.
    (c) Audits.--The Board and the Washington National Opera Education 
and Community Program shall be subject to the audit requirements of 
section 5134(f)(2) of title 31, United States Code.

Summary: Washington National Opera Commemorative Coin Act of 2004 - Directs the Secretary of the Treasury to mint, until December 31, 2010, coins in commemoration of the Washington National Opera. Provides for the issuance and sale of such coins.