Text: S.846 — 111th Congress (2009-2010)All Information (Except Text)
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
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
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
(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
(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
(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
(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
(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
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
(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:
Vol. 155 (2009):
Oct. 13, considered and passed
Vol. 156 (2010):
Sept. 23, considered and passed