S.3612 - Commemorative Coins Reform Act of 2012112th Congress (2011-2012)
|Sponsor:||Sen. DeMint, Jim [R-SC] (Introduced 09/21/2012)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 09/21/2012 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
This bill has the status Introduced
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Summary: S.3612 — 112th Congress (2011-2012)All Information (Except Text)
Introduced in Senate (09/21/2012)
Commemorative Coins Reform Act of 2012 - Prohibits surcharges generated by the sale of any numismatic item or commemorative coin program from being paid to a non-federal organization, except with respect to sales and production costs.
Requires that surcharges be used to recover all numismatic operation and program costs allocable to the program under which a numismatic item is produced and sold.
Requires the transfer of any excess surcharges to the general fund of the Treasury for deficit reduction purposes.