Summary: H.R.500 — 102nd Congress (1991-1992)All Information (Except Text)

Bill summaries are authored by CRS.

Shown Here:
Passed House amended (07/31/1991)

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. Terminates the minting of such coins after 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.

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.

Mandates that all amounts received from coin sales be deposited in the coinage profit fund.

Requires the Secretary to report to certain congressional committees with respect to: (1) coin sales marketing activities; and (2) a detailed financial operating statement.

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 Fellowship Fund.

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