H.R.4464 - National Community Service Commemorative Coin Act103rd Congress (1993-1994)
|Sponsor:||Rep. Kennedy, Joseph P., II [D-MA-8] (Introduced 05/20/1994)|
|Committees:||House - Banking, Finance, and Urban Affairs|
|Latest Action:||House - 06/06/1994 Referred to the Subcommittee on Consumer Credit and Insurance. (All Actions)|
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Text: H.R.4464 — 103rd Congress (1993-1994)All Information (Except Text)
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Introduced in House (05/20/1994)
[Congressional Bills 103th Congress] [From the U.S. Government Printing Office] [H.R. 4464 Introduced in House (IH)] 103d CONGRESS 2d Session H. R. 4464 To require the Secretary of the Treasury to mint coins in commemoration of the Program on Social Ethics and Community Service. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 20, 1994 Mr. Kennedy (for himself, Mr. Gingrich, and Mr. Peterson of Florida) introduced the following bill; which was referred to the Committee on Banking, Finance and Urban Affairs _______________________________________________________________________ A BILL To require the Secretary of the Treasury to mint coins in commemoration of the Program on Social Ethics and Community Service. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``National Community Service Commemorative Coin Act''. SEC. 2. COIN SPECIFICATIONS. (a) $1 Silver Coins.--The Secretary of the Treasury (hereafter in this Act referred to as the ``Secretary'') shall mint and issue not more than 500,000 $1 coins to commemorate students who volunteer to perform community service, which shall-- (1) weigh 26.73 grams; (2) have a diameter of 1.500 inches; and (3) contain 90 percent silver and 10 percent copper. (b) Legal Tender.--The coins issued under this Act shall be legal tender, as provided in section 5103 of title 31, United States Code. (c) Numismatic Items.--For purposes of section 5134 of title 31, United States Code, all coins minted under this Act shall be considered to be numismatic items. SEC. 3. SOURCES OF BULLION. The Secretary shall obtain silver for the coins minted under this Act only from stockpiles established under the Strategic and Critical Minerals Stock Piling Act. SEC. 4. DESIGN OF COINS. (a) Design Requirements.-- (1) In general.--The design of the coins minted under this Act shall be emblematic of community services provided by student volunteers. (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 ``1996''; and (C) inscriptions of the words ``Liberty'', ``In God We Trust'', ``United States of America'', and ``E Pluribus Unum''. (b) Selection.--The design for the coins authorized by this Act shall be-- (1) selected by the Secretary after consultation with the National Community Service Trust and the Commission of Fine Arts; and (2) reviewed by the Citizens Commemorative Coin Advisory Committee. SEC. 5. ISSUANCE OF COINS. (a) Quality of Coins.--Coins minted under this Act shall be issued in uncirculated and proof qualities. (b) Mint Facility.--Only 1 facility of the United States Mint may be used to strike any particular quality of the coins minted under this Act. (c) Period for Issuance.--The Secretary shall issue coins minted under this Act for a period of not less than 6 months and not more than 12 months, beginning no later than August 1, 1996. SEC. 6. 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 subsection (c) with respect to such 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. (d) Surcharges.--All sales shall include a surcharge of $10 per coin. SEC. 7. GENERAL WAIVER OF PROCUREMENT REGULATIONS. (a) In General.--Except as provided in subsection (b), no provision of law governing procurement or public contracts shall be applicable to the procurement of goods and services necessary for carrying out the provisions of this Act. (b) Equal Employment Opportunity.--Subsection (a) shall not relieve any person entering into a contract under the authority of this Act from complying with any law relating to equal employment opportunity. SEC. 8. DISTRIBUTION OF SURCHARGES. (a) In General.--All surcharges received by the Secretary from the sale of coins issued under this Act shall be promptly paid by the Secretary to the National Community Service Trust for the purpose of funding innovative community service programs at American universities, including the service, research, and teaching activities of faculty and students involved in such programs. (b) Audits.--The Comptroller General of the United States shall have the right to examine such books, records, documents, and other data of the National Community Service Trust as may be related to the expenditures of amounts paid under subsection (a). SEC. 9. FINANCIAL ASSURANCES. (a) No Net Cost to the Government.--The Secretary shall take such actions as may be necessary to ensure that minting and issuing coins under this Act will not result in any net cost to the United States Government. (b) Payment for Coins.--A coin shall not be issued under this Act unless the Secretary has received-- (1) full payment for the coin; (2) security satisfactory to the Secretary to indemnify the United States for full payment; or (3) a guarantee of full payment satisfactory to the Secretary from a depository institution whose deposits are insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration Board. <all>