Text: S.846 — 111th Congress (2009-2010)All Information (Except Text)

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Public Law No: 111-253 (10/05/2010)

 
[111th Congress Public Law 253]
[From the U.S. Government Printing Office]



[[Page 124 STAT. 2635]]

Public Law 111-253
111th Congress

                                 An Act


 
     To award a congressional gold medal to Dr. Muhammad Yunus, in 
      recognition of his contributions to the fight against global 
              poverty. <<NOTE: Oct. 5, 2010 -  [S. 846]>> 

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled, <<NOTE: 31 USC 5111 
note.>> 
SECTION 1. FINDINGS.

    The Congress finds that--
            (1) Dr. Muhammad Yunus is recognized in the United States 
        and throughout the world as a leading figure in the fight 
        against poverty and the effort to promote economic and social 
        change;
            (2) Muhammad Yunus is the recognized developer of the 
        concept of microcredit, and Grameen Bank, which he founded, has 
        created a model of lending that has been emulated across the 
        globe;
            (3) Muhammad Yunus launched this global movement to create 
        economic and social development from below, beginning in 1976, 
        with a loan of $27 from his own pocket to 42 crafts persons in a 
        small village in Bangladesh;
            (4) Muhammad Yunus has demonstrated the life-changing 
        potential of extending very small loans (at competitive interest 
        rates) to the very poor and the economic feasibility of 
        microcredit and other microfinance and microenterprise practices 
        and services;
            (5) Dr. Yunus's work has had a particularly strong impact on 
        improving the economic prospects of women, and on their 
        families, as over 95 percent of microcredit borrowers are women;
            (6) Dr. Yunus has pioneered a movement with the potential to 
        assist a significant number of the more than 1,400,000,000 
        people, mostly women and children, who live on less than $1.25 a 
        day, and the 2,600,000,000 people who live on less than $2 a 
        day, and which has already reached 155,000,000, by one estimate;
            (7) there are now an estimated 24,000,000 microenterprises 
        in the United States accounting for approximately 18 percent of 
        private (nonfarm) employment and 87 percent of all business in 
        the United States, and the Small Business Administration has 
        made over $318,000,000 in microloans to entrepreneurs since 
        1992;
            (8) Dr. Yunus, along with the Grameen Bank, was awarded the 
        Nobel Peace Prize in 2006 for his efforts to promote economic 
        and social opportunity and out of recognition that lasting peace 
        cannot be achieved unless large population groups find the 
        means, such as microcredit, to break out of poverty; and

[[Page 124 STAT. 2636]]

            (9) the microcredit ideas developed and put into practice by 
        Muhammad Yunus, along with other bold initiatives, can make a 
        historical breakthrough in the fight against poverty.
SEC. 2. CONGRESSIONAL GOLD MEDAL.

    (a) Presentation Authorized.--The Speaker of the House of 
Representatives and the President pro tempore of the Senate shall make 
appropriate arrangements for the presentation, on behalf of the 
Congress, of a gold medal of appropriate design to Dr. Muhammad Yunus, 
in recognition of his many enduring contributions to the fight against 
global poverty.
    (b) Design and Striking.--For purposes of the presentation referred 
to in subsection (a), the Secretary of the Treasury (hereafter in this 
Act referred to as the ``Secretary'') shall strike a gold medal with 
suitable emblems, devices, and inscriptions, to be determined by the 
Secretary.
SEC. 3. DUPLICATE MEDALS.

    The Secretary may strike and sell duplicates in bronze of the gold 
medal struck pursuant to section 2, under such regulations as the 
Secretary may prescribe, at a price sufficient to cover the cost 
thereof, including labor, materials, dies, use of machinery, and 
overhead expenses, and the cost of the gold medal.
SEC. 4. STATUS OF MEDALS.

    (a) National Medals.--The medals struck pursuant to this Act are 
national medals for purposes of chapter 51 of title 31, United States 
Code.
    (b) Numismatic Items.--For purposes of sections 5134 and 5136 of 
title 31, United States Code, all medals struck under this Act shall be 
considered to be numismatic items.
SEC. 5. AUTHORITY TO USE FUND AMOUNTS; PROCEEDS OF SALE.

    (a) Authority To Use Fund Amounts.--There are authorized to be 
charged against the United States Mint Public Enterprise Fund, such 
amounts as may be necessary to pay for the costs of the medals struck 
pursuant to this Act.
    (b) Proceeds of Sale.--Amounts received from the sale of duplicate 
bronze medals authorized under section 3 shall be deposited into the 
United States Mint Public Enterprise Fund.

    Approved October 5, 2010.

LEGISLATIVE HISTORY--S. 846:
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CONGRESSIONAL RECORD:
                                                        Vol. 155 (2009):
                                    Oct. 13, considered and passed 
                                        Senate.
                                                        Vol. 156 (2010):
                                    Sept. 23, considered and passed 
                                        House.

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