Text: H.R.2414 — 105th Congress (1997-1998)All Information (Except Text)

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Referred in Senate (09/24/1997)

 
[Congressional Bills 105th Congress]
[From the U.S. Government Printing Office]
[H.R. 2414 Referred in Senate (RFS)]

  1st Session
                                H. R. 2414


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           September 24, 1997

Received; read twice and referred to the Committee on Banking, Housing, 
                           and Urban Affairs

_______________________________________________________________________

                                 AN ACT


 
  To provide for a 10-year circulating commemorative coin program to 
       commemorate each of the 50 States, and for other purposes.

    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 ``50 States Commemorative Coin Program 
Act''.

SEC. 2. FINDINGS.

    The Congress hereby finds the following:
            (1) It is appropriate and timely to--
                    (A) honor the unique Federal republic of 50 States 
                that comprise the United States; and
                    (B) promote the diffusion of knowledge among the 
                youth of the United States about the individual States, 
                their history and geography, and the rich diversity of 
                the national heritage.
            (2) The circulating coinage of the United States has not 
        been modernized within the past 25 years.
            (3) A circulating commemorative 25-cent coin program could 
        produce earnings of $110,000,000 from the sale of silver proof 
        coins and sets over the 10-year period of issuance and would 
        produce indirect earnings of an estimated $2,600,000,000 to 
        $5,100,000,000 to the United States Treasury, money that will 
        replace borrowing to fund the national debt to at least that 
        extent.
            (4) It is appropriate to launch a commemorative circulating 
        coin program that encourages young people and their families to 
        collect memorable tokens of all the States for the face value 
        of the coins.

SEC. 3. ISSUANCE OF REDESIGNED QUARTER DOLLARS OVER 10-YEAR PERIOD 
              COMMEMORATING EACH OF THE 50 STATES.

    Section 5112 of title 31, United States Code, is amended by adding 
at the end the following new subsection:
    ``(k) Redesign and Issuance of Quarter Dollar in Commemoration of 
Each of the 50 States.--
            ``(1) Redesign beginning in 1999.--
                    ``(A) In general.--Notwithstanding the 4th sentence 
                of subsection (d)(1) and subsection (d)(2), quarter 
                dollar coins issued during the 10-year period beginning 
                in 1999, shall have designs on the reverse side 
                selected in accordance with this subsection which are 
                emblematic of the 50 States.
                    ``(B) Transition provision.--Notwithstanding 
                subparagraph (A), the Secretary may continue to mint 
                and issue quarter dollars in 1999 which bear the design 
                in effect before the redesign required under this 
                subsection and an inscription of the year `1998' as 
                required to ensure a smooth transition into the 10-year 
                program under this subsection.
            ``(2) Single state designs.--The design on the reverse side 
        of each quarter dollar issued during the 10-year period 
        referred to in paragraph (1) shall be emblematic of 1 of the 50 
        States.
            ``(3) Issuance of coins commemorating 5 states during each 
        of the 10 years.--
                    ``(A) In general.--The designs for the quarter 
                dollar coins issued during each year of the 10-year 
                period referred to in paragraph (1) shall be emblematic 
                of 5 States selected in the order in which such States 
                ratified the Constitution of the United States or were 
                admitted into the Union, as the case may be.
                    ``(B) Number of each of 5 coin designs in each 
                year.--Of the quarter dollar coins issued during each 
                year (of the 10-year period referred to in paragraph 
                (1)), the Secretary of the Treasury shall prescribe, on 
                the basis of such factors as the Secretary determines 
                to be appropriate, the number of quarter dollars which 
                shall be issued with each of the 5 designs selected for 
                such year.
            ``(4) Selection of design.--
                    ``(A) In general.--Each of the 50 designs required 
                under this subsection for quarter dollars shall be--
                            ``(i) selected by the Secretary after 
                        consultation with--
                                    ``(I) the Governor of the State 
                                being commemorated, or such other State 
                                officials or group as the State may 
                                designate for such purpose; and
                                    ``(II) the Commission of Fine Arts; 
                                and
                            ``(ii) reviewed by the Citizens 
                        Commemorative Coin Advisory Committee.
                    ``(B) Selection and approval process.--Designs for 
                quarter dollars may be submitted in accordance with the 
                design selection and approval process developed by the 
                Secretary in the sole discretion of the Secretary.
                    ``(C) Participation.--The Secretary may include 
                participation by State officials, artists from the 
                States, engravers of the United States Mint, and 
                members of the general public.
                    ``(D) Standards.--Because it is important that the 
                Nation's coinage and currency bear dignified designs of 
                which the citizens of the United States can be proud, 
                the Secretary shall not select any frivolous or 
                inappropriate design for any quarter dollar minted 
                under this subsection.
                    ``(E) Prohibition on certain representations.--No 
                head and shoulders portrait or bust of any person, 
                living or dead, and no portrait of a living person may 
                be included in the design of any quarter dollar under 
                this subsection.
            ``(5) Treatment as numismatic items.--For purposes of 
        sections 5134 and 5136, all coins minted under this subsection 
        shall be considered to be numismatic items.
            ``(6) Numismatic items.--
                    ``(A) Quality of coins.--The Secretary may mint and 
                issue such number of quarter dollars of each design 
                selected under paragraph (4) in uncirculated and proof 
                qualities as the Secretary determines to be 
                appropriate.
                    ``(B) Silver coins.--Notwithstanding subsection 
                (b), the Secretary may mint and issue such number of 
                quarter dollars of each design selected under paragraph 
                (4) as the Secretary determines to be appropriate with 
                a content of 90 percent silver and 10 percent copper.
                    ``(C) Sources of bullion.--The Secretary shall 
                obtain silver for minting coins under subparagraph (B) 
                from available resources, including stockpiles 
                established under the Strategic and Critical Materials 
                Stock Piling Act.
            ``(7) Application in event of the admission of additional 
        states.--If any additional State is admitted into the Union 
        before the end of the 10-year period referred to in paragraph 
        (1), the Secretary of the Treasury may issue quarter dollar 
        coins, in accordance with this subsection, with a design which 
        is emblematic of such State during any 1 year of such 10-year 
        period, in addition to the quarter dollar coins issued during 
        such year in accordance with paragraph (3)(A).''.

            Passed the House of Representatives September 23, 1997.

            Attest:

                                                ROBIN H. CARLE,

                                                                 Clerk.

                              By Jeff Trandahl,

                                                          Deputy Clerk.

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