Summary: S.894 — 108th Congress (2003-2004)All Information (Except Text)

Bill summaries are authored by CRS.

Shown Here:
Reported to Senate without amendment (07/14/2004)

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Marine Corps 230th Anniversary Commemorative Coin Act - Directs the Secretary of the Treasury to mint and issue not more than 500,000 one dollar coins which shall be emblematic of the warrior ethos of the United States Marine Corps. Requires: (1) all coin sales to include a surcharge of $10 per coin; and (2) all surcharges to be paid to the Marine Corps Heritage Foundation for construction of the Marine Corps Heritage Center.

Directs the Secretary to 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 U.S. Government. Prohibits a coin from being issued unless the Secretary has received: (1) full payment for the coin; (2) security to indemnify the United States for full payment; or (3) a guarantee of full payment from a depository institution, the deposits of which are insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration.