100th anniversary of the Lincoln Memorial Commemorative Coin Act
Bill: H.R.6681 | Sponsor: Rep. LaHood, Darin (R-IL)
Policy area: Finance and Financial Sector

Summary:
100th anniversary of the Lincoln Memorial Commemorative Coin Act
This bill directs the Department of the Treasury to mint and issue not more than 500,000 $1 coins in commemoration of the 100th anniversary of the Lincoln Memorial. All sales of coins issued under this bill shall include a surcharge which shall be paid to the Trust of the National Mall for the purpose of restoring and preserving the Lincoln Memorial.

To require the Secretary of the Treasury to mint commemorative coins in 
     recognition of the 100th anniversary of the Lincoln Memorial.

    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 ``100th anniversary of the Lincoln 
Memorial Commemorative Coin Act''.

SEC. 2. FINDINGS.

    The Congress finds the following:
            (1) The year 2022 marks the 100th anniversary of the 
        Lincoln Memorial on the National Mall, dedicated on May 30, 
        1922.
            (2) The iconic Lincoln Memorial is a U.S. national memorial 
        built in the style of a neoclassical temple in honor of the 
        16th President of the United States. Designed by Henry Bacon 
        and sited on the western end of the National Mall across from 
        the Washington Monument, the memorial contains a grand seated 
        sculpture of Abraham Lincoln and includes inscriptions of 
        passages from the Gettysburg Address and Lincoln's second 
        inaugural address.
            (3) The most visited monument on the National Mall, the 
        Lincoln Memorial provides visitors with a grand view of the 
        Mall and meaningful and inspiring way to experience President 
        Lincoln and his legacy. It has been the site of many important 
        historical events, including Martin Luther King Jr.'s ``I Have 
        a Dream'' speech, delivered on August 28, 1963, during the 
        March on Washington for Jobs and Freedom.
            (4) Congress has invested significant funding to repair and 
        restore the Lincoln Memorial over the years. The purpose of 
        this Act is to build a long-term maintenance fund for future 
        repairs and maintenance to augment the National Park Service 
        budget and further protect and build upon Congress's initial 
        investment in the memorial.
            (5) Since 2007, the Trust for the National Mall has been 
        the leading nonprofit nonpartisan philanthropic partner of the 
        National Mall and Memorial Parks division of the National Park 
        Service dedicated to bringing private and public resources and 
        public awareness to support the preservation, restoration, and 
        enrichment of the National Mall. The Trust will provide 
        management of the maintenance fund in collaboration with the 
        National Park Service.
            (6) The Trust for the National Mall wants to honor the 
        contributions of Abraham Lincoln to our great Nation. The Trust 
        will promote and encourage support for this commemorative coin 
        as a way to increase public awareness and appreciation for 
        Lincoln's legacy and to inspire Americans to share in this 
        important effort to preserve the memorial for generations to 
        come.

SEC. 3. COIN SPECIFICATIONS.

    (a) $1 Silver Coins.--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 in commemoration of the 100th anniversary of 
the Lincoln Memorial, each of which shall--
            (1) weigh 26.73 grams;
            (2) have a diameter of 1.500 inches; and
            (3) contain at least 90 percent silver.
    (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. DESIGN OF COINS.

    (a) Design Requirements.--
            (1) In general.--The design of the coins minted under this 
        Act shall be emblematic of the 100th anniversary of the Lincoln 
        Memorial.
            (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 ``2023''; 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 
        Trust of the National Mall; 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 under this 
Act only during the calendar year beginning on January 1, 2023.

SEC. 6. SALE OF COINS.

    (a) Sale Price.--The coins 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.

SEC. 7. SURCHARGES.

    (a) In General.--All sales of coins issued 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 received by the Secretary from the sale of 
coins issued under this Act shall be paid to the Trust of the National 
Mall and for the purpose of restoring and preserving the Lincoln 
Memorial.
    (c) Audits.--The Lincoln Memorial 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).
    (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. The Secretary of the Treasury may issue guidance to 
carry out this subsection.
                                 <all>