FIFA World Cup 2026 Commemorative Coin Act

Bill: 118-s-4141
Sponsor: full_name: Sen. Young, Todd [R-IN]
Introduced: 2024-04-17
Policy area: Finance and Financial Sector
Subjects: Currency

Professional sports
Latest action: action_date: 2024-04-17
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:

tv_txt: II 118th CONGRESS 2d Session S. 4141 IN THE SENATE OF THE UNITED STATES April 17, 2024 Mr. Young (for himself and Ms. Butler ) 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 the FIFA World Cup 2026, and for other purposes.

1. Short title This Act may be cited as the FIFA World Cup 2026 Commemorative Coin Act . 2. Findings Congress finds the following: (1) The FIFA World Cup 2026— (A) will be held in the United States, Mexico, and Canada; (B) will be the first time the Men’s World Cup has been held in the United States in 32 years; and (C) will be the second Men’s World Cup hosted by the United States and the largest and most inclusive World Cup ever hosted, with 48 teams in 16 cities across 3 countries. (2) Host cities and locations in the United States will include Atlanta, Boston, Dallas, Houston, Kansas City, Los Angeles, Miami, the New York and New Jersey area, Philadelphia, the San Francisco Bay area, and Seattle. (3) The FIFA World Cup 2026 will be organized under a FIFA-led operating model, which was introduced in the FIFA Women’s World Cup in Australia and New Zealand in 2023. (4) Through the FIFA-led operating model, the FIFA World Cup 2026 is being planned and executed by FWC2026 US, Inc., an organization exempt from taxation pursuant to section 501(c)(4) of the Internal Revenue Code of 1986, headquartered in Miami. (5) The FIFA-led operating model includes a guaranteed framework for providing a legacy fund to each participating host member: The United States Soccer Federation, Canada Soccer, and the Mexican Football Federation. (6) A FIFA World Cup 2026 commemorative coin program has the opportunity to shape a lasting legacy for the sport of soccer in the United States, support underserved communities, and celebrate a unifying global event. 3. Definitions In this Act: (1) FIFA The term FIFA means the Fédération Internationale de Football Association. (2) FIFA World Cup 2026 The term FIFA World Cup 2026 means the FIFA Men’s World Cup held in 2026. (3) FWC2026 US, Inc The term FWC2026 US, Inc. means the FIFA subsidiary incorporated in the United States for the purpose of operating the FIFA World Cup 2026 and related programs. 4. Coin specifications (a) Denominations The Secretary of the Treasury (hereafter in this Act referred to as the Secretary ) shall mint and issue the following coins: (1) $5 gold coins Not more than 100,000 $5 coins, which shall— (A) weigh 8.359 grams; (B) have a diameter of 0.850 inches; and (C) contain not less than 90 percent gold. (2) $1 silver coins Not more than 500,000 $1 coins, which shall— (A) weigh 26.73 grams; (B) have a diameter of 1.500 inches; and (C) contain not less than 90 percent silver. (3) Half-dollar clad coins Not more than 750,000 half-dollar coins, which shall— (A) weigh 11.34 grams; (B) have a diameter of 1.205 inches; and (C) be minted to the specifications for half-dollar coins contained in section 5112(b) of title 31, United States Code. (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. (d) Mintage limit exception If the Secretary determines, based on independent, market-based research conducted by FWC2026 US, Inc., that the mintage levels described in this section are not adequate to meet public demand, the Secretary may increase the mintage levels as the Secretary determines is necessary to meet public demand. 5. Designs of coins (a) Design requirements (1) In general The designs of the coins minted under this Act shall be emblematic of the sport of soccer and the FIFA World Cup. (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 2026 ; and (C) inscriptions of the words Liberty , In God We Trust , United States of America , and E Pluribus Unum . (b) Selection The designs for the coins minted under this Act shall be— (1) selected by the Secretary after consultation with— (A) FWC2026 US, Inc.; and (B) the Commission of Fine Arts; and (2) reviewed by the Citizens Coinage Advisory Committee. 6. 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 minted under this Act only during the 1-year period beginning on January 1, 2026. 7. 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 8(a) with respect to the 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. 8. Surcharges (a) In general All sales of coins issued under this Act shall include a surcharge of— (1) $35 per coin for the $5 coins; (2) $10 per coin for the $1 coins; and (3) $5 per coin for the half-dollar coins. (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 promptly paid by the Secretary to FWC2026 US, Inc., for the purpose of aiding or executing United States-based soccer programs and activities, including the promotion of— (1) legacy programs of FIFA in the United States; and (2) efforts to grow the sport of soccer throughout the United States, with a focus on youth, inner cities, and underserved communities. (c) Audits FWC2026 US, Inc., 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 (as in effect on the date of the enactment of this Act). 9. Financial assurances The Secretary shall take such actions as may be necessary to ensure that— (1) minting and issuing coins under this Act will not result in any net cost to the United States Government; and (2) no funds, including applicable surcharges, are disbursed to FWC2026 US, Inc., until the total cost of designing and issuing all of the coins authorized by this Act (including labor, materials, dies, use of machinery, overhead expenses, marketing, and shipping) is recovered by the United States Treasury, consistent with sections 5112(m) and 5134(f) of title 31, United States Code.