Title: President John F. Kennedy Commemorative Coin Act
Policy area: Finance and Financial Sector

Summary:
President John F. Kennedy Commemorative Coin Act
This bill directs the Department of the Treasury to mint and issue not more than 500,000 $1 silver coins in commemoration of President John F. Kennedy.
The bill requires all sales of such coins to include a surcharge of $10 per coin, which shall be paid by Treasury to the John F. Kennedy Library Foundation to support the John F. Kennedy Presidential Library and Museum.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[S. 1568 Introduced in Senate (IS)]

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115th CONGRESS
  1st Session
                                S. 1568

To require the Secretary of the Treasury to mint coins in commemoration 
                     of President John F. Kennedy.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July 17, 2017

Mr. Markey (for himself and Mr. McCain) introduced the following bill; 
which was read twice and referred to the Committee on Banking, Housing, 
                           and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To require the Secretary of the Treasury to mint coins in commemoration 
                     of President John F. Kennedy.

    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 ``President John F. Kennedy 
Commemorative Coin Act''.

SEC. 2. FINDINGS.

    The Congress finds that--
            (1) John Fitzgerald Kennedy served in the United States 
        Navy, earning the Navy and Marine Corps Medal and a Purple 
        Heart for his actions following the sinking of PT-109 during 
        World War II;
            (2) John Fitzgerald Kennedy served honorably in the United 
        States House of Representatives from 1947 to 1953;
            (3) John Fitzgerald Kennedy served honorably in the United 
        States Senate from 1953 to 1960;
            (4) in 1960, at 43 years of age, John Fitzgerald Kennedy 
        became the youngest person ever elected President of the United 
        States;
            (5) in his inaugural address, President Kennedy challenged 
        all people of the United States to ``ask not what your country 
        can do for you--ask what you can do for your country'';
            (6) President Kennedy's call to service laid the foundation 
        for the development of the Peace Corps;
            (7) President Kennedy again challenged the United States to 
        put a man on the moon by the end of the 1960s and his 
        ``moonshot'' is credited for spurring an interest in science 
        and innovation;
            (8) 2017 marks the 100th anniversary of the birth of 
        President Kennedy, the 35th President of the United States; and
            (9) a commemorative coin honoring President Kennedy's 
        legacy of courage, service, innovation, and inclusion will be a 
        reminder to future generations of the importance of service to 
        one's country.

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 President John F. 
Kennedy, which shall--
            (1) weigh 26.73 grams;
            (2) have a diameter of 1.500 inches; and
            (3) contain not less than 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 life and legacy of President 
        John F. Kennedy.
            (2) Design 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 2020; 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 
        John F. Kennedy Library Foundation and the Commission of Fine 
        Arts; 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) Mint Facility.--Only 1 facility of the United States Mint may 
be used to strike any particular quality of the coins minted under this 
Act.
    (c) Period for Issuance.--The Secretary may issue coins minted 
under this Act only during the 1-year period beginning on January 1, 
2020.

SEC. 6. SALE OF COINS.

    (a) Sale Price.--The coins issued 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) Bulk Sales.--The Secretary shall make bulk sales of the coins 
issued under this Act at a reasonable discount.
    (c) 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)(1) 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 John F. Kennedy Library Foundation, to support the 
John F. Kennedy Presidential Library and Museum.
    (c) Limitations.--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 (as in effect on the date of the enactment of this 
Act). The Secretary of the Treasury may issue guidance to carry out 
this subsection.
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