Bill summaries are authored by CRS.

Shown Here:
Passed House amended (09/17/1996)

Dolley Madison Commemorative Coin Act - Directs the Secretary of the Treasury to issue commemorative one-dollar silver coins emblematic of the 150th anniversary of the death of Dolley madison and the life and achievements of the wife of the fourth President of the United States.

Requires the Secretary to turn over proceeds from surcharges to the National Trust for Historic Preservation to be used to: (1) establish an endowment as a permanent source for Montpelier (home of James and Dolley Madison) as a museum; and (2) fund capital restoration projects at Montpelier.

Cites prerequisites for such distribution, including: (1) submission of an audited financial statement demonstrating to the Secretary's satisfaction that the Trust has raised funds from private sources equal to or greater than the maximum amount it may receive from surcharge proceeds; (2) an annual Trust audit; (3) a directive that the Trust maintain a separate accounting of surcharge proceeds and expenditures; (4) public disclosure of the Trust audit; (5) access to Trust records pertaining to receipts and expenditures; and (6) a proscription against the use of proceeds from surcharges to compensate agents or attorneys to influence commemorative coin legislation.