Commemorative Coins Reform Act of 2015

Bill: 114-hr-3097
Sponsor: full_name: Rep. Amash, Justin [R-MI-3]
Introduced: 2015-07-16
Policy area: Finance and Financial Sector
Subjects: Commemorative events and holidays

Currency

Executive agency funding and structure

User charges and fees
Latest action: action_date: 2015-07-16
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2015-07-16
action_desc: Introduced in House
text: <p><strong>Commemorative Coins Reform Act of 2015</strong></p> <p> This bill prohibits surcharges generated by the sale of any numismatic item or commemorative coin program from being paid to a non-federal organization, except with respect to sales and production costs. </p> <p>Surcharges must be used to recover all numismatic operation and program costs allocable to the program under which a numismatic item is produced and sold.</p> <p>Any excess surcharges must be transferred to the general fund of the Treasury for deficit reduction purposes.</p>

tv_txt: I 114th CONGRESS 1st Session H. R. 3097 IN THE HOUSE OF REPRESENTATIVES July 16, 2015 Mr. Amash (for himself, Mr. Ribble , Mr. Mulvaney , Mr. Jordan , Mr. Labrador , Mr. Massie , Mr. Duncan of South Carolina , Mr. Gosar , Mr. Bridenstine , Mr. Loudermilk , Mr. Sanford , Mr. Buck , Mr. Brat , Mr. Chaffetz , Mr. Meadows , and Mr. Perry ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To prohibit the payment of surcharges for commemorative coin programs to private organizations or entities, and for other purposes.

1. Short title This Act may be cited as the Commemorative Coins Reform Act of 2015 . 2. Prohibition on payment of surcharges to non-Federal entities Section 5134(f) of title 31, United States Code, is amended to read as follows: (f) Prohibition on payment of surcharges to organizations outside of the Federal Government (1) In general Notwithstanding any other provision of law, no surcharges collected with respect to the sale of any numismatic item may be paid to any organization outside of the Federal Government, other than with respect to the costs of producing and selling such item. (2) Payment of costs Surcharges collected in connection with the sale of any numismatic item shall be used to recover all numismatic operation and program costs allocable to the program under which such numismatic item is produced and sold. (3) Excess deposited into Treasury Amounts of surcharges collected in excess of the amounts described in paragraph (2) shall be transferred by the Fund to the general fund of the Treasury for the purpose of deficit reduction. . 3. Applicability Subsection (f) of section 5134, United States Code, as amended by this Act, shall apply with respect to any commemorative coin program established or numismatic item produced pursuant to an Act enacted on or after the date of enactment of this Act.