Summary: S.2925 — 101st Congress (1989-1990)All Information (Except Text)

There is one summary for S.2925. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (07/26/1990)

Christopher Columbus Quincentenary Commemorative Coin and Scholarship Endowment Act of 1990 - Directs the Secretary of the Treasury to mint and issue 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. Provides that such coins shall be considered legal tender. Requires that all sales of such coins include specified surcharges.

Requires that all surcharges received from the sale of such coins be paid quarterly to the Christopher Columbus Quincentenary Scholarship Endowment Fund established by this Act. States that such Fund shall be maintained by the Quincentenary Scholarship Foundation to generate income for scholarships and secondary school summer programs for students with the potential to make lasting contributions in the disciplines of geography, foreign languages, and international affairs.

Requires the Foundation to report annually on its activities to the Congress and the Secretary of Education.