Summary: H.R.2754 — 101st Congress (1989-1990)All Information (Except Text)

Bill summaries are authored by CRS.

Shown Here:
Passed Senate amended (10/27/1990)

Christopher Columbus Coin and Fellowship Act - Title I: Christopher Columbus Quincentenary Coins - Christopher Columbus Quincentenary Coin Act - Directs the Secretary of the Treasury to mint and issue not more than a specified number of five-dollar gold coins, one-dollar silver coins, and half-dollar clad coins emblematic of the quincentenary of the discovery of America.

Sets forth certain features of such coins and provides for their design, issuance, and sale. Authorizes the Secretary to issue such coins from January 1, 1992, until June 30, 1993.

Requires the Secretary to deposit surcharges from the sale of such coins in the Christopher Columbus Fellowship Fund for use by the Christopher Columbus Fellowship Foundation. Grants the Comptroller General the right to audit materials of the Foundation that relate to expenditures of such surcharges.

Declares that no law governing procurement or public contracts shall be applicable to the procurement of goods and services necessary for carrying out this Act, except that this provision shall not relieve any person from complying with any law relating to equal employment opportunity.

Requires all amounts received from the sale of coins issued under this title to be deposited into the coinage profit fund.

Title II: Christopher Columbus Fellowship Foundation - Christopher Columbus Fellowship Act - Establishes the Christopher Columbus Fellowship Foundation to award fellowships to outstanding individuals to encourage new discoveries in all fields of endeavor for the benefit of mankind. Establishes the Christopher Columbus Fund.

Directs the Foundation to report to the President and to the Congress annually on its operations.

Directs the Secretary to: (1) select a coin for the redesign of its reverse side to commemorate the bicentennial of the Bill of Rights ratification; and (2) mint and issue such commemorative coin for two years.

Requires the Secretary to provide for the redesign of all coins and to consider designs representative of various constitutional concepts. Prohibits the Secretary from preparing any model, hub, or die for such redesigned coins unless a law approving the minting and issuing of such coins has been enacted.

Requires the profits from the sale of uncirculated and proof sets of coins in the coinage profit fund to be deposited in the general fund of the Treasury to be used to reduce the national debt.