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109th Congress                                            Rept. 109-133
                        HOUSE OF REPRESENTATIVES
 1st Session                                                     Part 1

======================================================================



 
          NASA AND JPL 50TH ANNIVERSARY COMMEMORATIVE COIN ACT

                                _______
                                

 June 15, 2005.--Committed to the Committee of the Whole House on the 
              State of the Union and ordered to be printed

                                _______
                                

  Mr. Oxley, from the Committee on Financial Services, submitted the 
                               following

                              R E P O R T

                         [To accompany H.R. 68]

      [Including cost estimate of the Congressional Budget Office]

    The Committee on Financial Services, to whom was referred 
the bill (H.R. 68) to require the Secretary of the Treasury to 
mint coins in commemoration of the 50th anniversary of the 
establishment of the National Aeronautics and Space 
Administration and the Jet Propulsion Laboratory, having 
considered the same, report favorably thereon with an amendment 
and recommend that the bill as amended do pass.

                                CONTENTS

                                                                   Page
  Amendment......................................................     1
  Purpose and Summary............................................     4
  Background and Need for Legislation............................     4
  Hearings.......................................................     4
  Committee Consideration........................................     4
  Committee Votes................................................     4
  Committee Oversight Findings...................................     5
  Performance Goals and Objectives...............................     5
  New Budget Authority, Entitlement Authority, and Tax 
  Expenditures...................................................     5
  Committee Cost Estimate........................................     5
  Congressional Budget Office Estimate...........................     5
  Federal Mandates Statement.....................................     7
  Advisory Committee Statement...................................     7
  Constitutional Authority Statement.............................     7
  Applicability to Legislative Branch............................     7
  Section-by-Section Analysis of the Legislation.................     8

                               AMENDMENT

    The amendment is as follows:
    Strike all after the enacting clause and insert the 
following:

SECTION 1. SHORT TITLE.

  This Act may be cited as the ``NASA and JPL 50th Anniversary 
Commemorative Coin Act''.

SEC. 2. COIN SPECIFICATIONS.

  (a) Denominations.--In commemoration of the 50th anniversary of the 
establishment of the National Aeronautics and Space Administration and 
the Jet Propulsion Laboratory, the Secretary of the Treasury (hereafter 
in this Act referred to as the ``Secretary) shall mint and issue the 
following coins:
          (1) $50 gold coins.--Not more than 50,000 $50 gold coins 
        which shall--
                  (A) weigh 33.931 grams;
                  (B) have a diameter of 32.7 millimeters; and
                  (C) contain 1 troy ounce of fine gold.
          (2) $1 silver coins.--Not more than 400,000 $1 coins of each 
        of the 9 designs specified in section 3(a)(3)(B), which shall--
                  (A) weigh 26.73 grams;
                  (B) have a diameter of 1.500 inches; and
                  (C) contain 90 percent silver and 10 percent copper.
  (b) Legal Tender.--The coins minted under this Act shall be legal 
tender, as provided in section 5103 of title 31, United States Code.
  (c) Numismatic Items.--For purposes of section 5134 of title 31, 
United States Code, all coins minted under this Act shall be considered 
to be numismatic items.

SEC. 3. DESIGN OF COINS.

  (a) Design Requirements.--
          (1) In general.--The design of the coins minted under this 
        Act shall be emblematic of the 50 years of exemplary and 
        unparalleled achievements of the National Aeronautics and Space 
        Administration and the Jet Propulsion Laboratory.
          (2) Designation and inscriptions.--On each coin minted under 
        this Act there shall be--
                  (A) a designation of the value of the coin;
                  (B) an inscription of the year ``2008''; and
                  (C) inscriptions of the words ``Liberty'', ``In God 
                We Trust'', ``United States of America'', and ``E 
                Pluribus Unum'', and such other inscriptions as the 
                Secretary may determine to be appropriate for the 
                designs of the coins.
          (3) Coin images.--
                  (A) $50 coins.--
                          (i) Obverse.--The obverse of the $50 coins 
                        issued under this Act shall bear an image of 
                        the sun.
                          (ii) Reverse.--The reverse of the $50 coins 
                        issued under this Act shall bear a design 
                        emblematic of the sacrifice of the United 
                        States astronauts who lost their lives in the 
                        line of duty over the course of the space 
                        program.
                          (iii) Edge.--The edge of the $50 coins issued 
                        under this Act shall bear the names and dates 
                        of the spacecraft missions on which United 
                        States astronauts lost their lives over the 
                        course of the space program.
                          (iv) High relief.--The design and 
                        inscriptions on the obverse and reverse of the 
                        $50 coins issued under this Act shall be in 
                        high relief.
                  (B) $1 coins.--
                          (i) Obverse.--The obverse of the $1 coins 
                        issued under this Act shall bear 9 different 
                        designs each of which shall consist of an image 
                        of 1 of the 9 planets of the solar system, 
                        including Earth.
                          (ii) Reverse.--
                                  (I) 8 planets other than earth.--The 
                                reverse of the $1 coins issued under 
                                this Act, other than the $1 coins which 
                                bear an image of the Earth on the 
                                obverse, shall bear 8 different designs 
                                each of which shall be emblematic of 
                                the discoveries and missions of the Jet 
                                Propulsion Laboratory to the planet 
                                depicted on the obverse.
                                  (II) Earth coin.--At least 1 of the 
                                designs on the reverse of the $1 coins 
                                issued under this Act which bear an 
                                image of the Earth on the obverse shall 
                                bear images emblematic of, and 
                                honoring, the discoveries and missions 
                                of the National Aeronautics and Space 
                                Administration, the Mercury, Gemini and 
                                Space Shuttle missions and other manned 
                                Earth-orbiting missions, and the Apollo 
                                missions to the Moon.
                          (iii) Edge.--It is the sense of the Congress 
                        that, to the extent practicable, the edge of 
                        each $1 coin should bear the names and dates or 
                        range of dates of missions or mission types to 
                        the planet depicted on the reverse.
          (4) Realistic and scientifically accurate depictions.--The 
        images for the designs of coins issued under this Act shall be 
        selected on the basis of the realism and scientific accuracy of 
        the images and on the extent to which the images are 
        reminiscent of the dramatic and beautiful artwork on coins of 
        the so-called ``Golden Age of Coinage'' in the United States, 
        at the beginning of the Twentieth Century, with the 
        participation of such noted sculptors and medallic artists as 
        James Earle Fraser, Augustus Saint-Gaudens, Victor David 
        Brenner, Adolph A. Weinman, Charles E. Barber, and George T. 
        Morgan.
  (b) Selection.--The design for the coins minted under this Act shall 
be--
          (1) selected by the Secretary after consultation with the 
        Administrator of the National Aeronautics and Space 
        Administration, the Director of the Jet Propulsion Laboratory, 
        and the Commission of Fine Arts; and
          (2) reviewed by the Citizens Coin Advisory Committee.

SEC. 4. SYMBOLIC INCLUSION OF METALS THAT HAVE FLOWN IN SPACE.

  (a) Collection.--Each Federal agency and instrumentality of the 
United States, including the Department of Defense, the Smithsonian 
Institution, the National Aeronautics and Space Administration, and the 
Jet Propulsion Laboratory, that has in its possession any craft, or any 
part of a craft, that flew in space shall--
          (1) retrieve such gold, silver, copper, and other metals that 
        the Director of the United States Mint determines are 
        appropriate for use in the production of any coins under this 
        Act, from such craft or part, that can be retrieved without 
        harming any such craft or part that may be of continuing use 
        for its original purpose or for research, or whose preservation 
        is appropriate for historical purposes; and
          (2) deposit such metals so retrieved with the Director of the 
        United States Mint.
  (b) Use of Metals in Production of Coins.--Any metals deposited with 
the Director of the United States Mint under subsection (a) shall be 
used in the production of the coins struck under this Act by blending 
such metals with other metal necessary for the production of such coins 
so that all of the coins produced under this Act will contain some 
proportion of the bullion obtained from craft or parts of crafts that 
flew in space in an amount appropriate for the types and denominations 
of the coins and the amount of metals so deposited.
  (c) Recordkeeping.--It is the sense of the Congress that each Federal 
agency and instrumentality of the United States which retrieves any 
metals in accordance with subsection (a) should maintain accurate and 
complete records of the retrieval and deposit of any such metals 
sufficient to allow the Director of the United States Mint to provide 
certificates of authenticity with coins issued under this Act that some 
proportion of the contents of such coins were obtained from craft or 
parts of crafts that flew in space.

SEC. 5. ISSUANCE OF COINS.

  (a) Quality of Coins.--Coins minted under this Act shall be issued in 
proof quality only.
  (b) Mint Facility.--Only 1 facility of the United States Mint may be 
used to strike any particular combination of denomination and quality 
of the coins minted under this Act.
  (c) Commencement of Issuance.--The Secretary may issue coins minted 
under this Act beginning January 1, 2008.
  (d) Termination of Minting Authority.--No coins may be minted under 
this Act after December 31, 2008.

SEC. 6. SALE OF COINS.

  (a) Sale Price.--The coins issued under this Act shall be sold by the 
Secretary at a price equal to the sum of--
          (1) the face value of the coins;
          (2) the surcharge provided in section 7(a) with respect to 
        such coins; and
          (3) the cost of designing and issuing the coins (including 
        labor, materials, dies, use of machinery, overhead expenses, 
        marketing, and shipping).
  (b) Prepaid Orders.--
          (1) In general.--The Secretary shall accept prepaid orders 
        for the coins minted under this Act before the issuance of such 
        coins.
          (2) Discount.--Sale prices with respect to prepaid orders 
        under paragraph (1) shall be at a reasonable discount.
  (c) Presentation.--In addition to the issuance of coins under this 
Act in such other methods of presentation as the Secretary of the 
Treasury determines to be appropriate, the Secretary shall provide, as 
a sale option, a presentation case which displays the $50 gold coin in 
the center surrounded by the $1 silver coins in an elliptical orbit.

SEC. 7. SURCHARGES.

  (a) In General.--All sales of coins minted under this Act shall 
include a surcharge as follows:
          (1) A surcharge of $50 per coin for the $50 coin.
          (2) A surcharge of $10 per coin for the $1 coin.
  (b) Distribution.--Subject to section 5134(f) of title 31, United 
States Code, all surcharges received by the Secretary from the sale of 
coins issued under this Act shall be promptly paid by the Secretary to 
the NASA Family Assistance Fund for the purposes of providing need-
based financial assistance to the families of NASA personnel who die as 
a result of injuries suffered in the performance of their official 
duties.
  (c) Audits.--The NASA Family Assistance Fund shall be subject to the 
audit requirements of section 5134(f)(2) of title 31, United States 
Code, with regard to the amounts received under subsection (b).

                          PURPOSE AND SUMMARY

    H.R. 68, the ``NASA and JPL 50th Anniversary Commemorative 
Coin Act,'' seeks to recognize the 50th anniversary of the 
National Aeronautics and Space Administration and of the Jet 
Propulsion Laboratory with the issuance of commemorative coins 
in 2008, each of which would contain trace amounts of metal 
that had been part of a spacecraft that had actually flown in 
space but is no longer needed for re-use, research or other 
purposes. Surcharges would be paid to a need-based fund for the 
survivors of NASA personnel who died of injuries suffered in 
the performance of their official duties.

                  BACKGROUND AND NEED FOR LEGISLATION

    This program seeks to commemorate the efforts of the 
National Aeronautics and Space Administration and of the Jet 
Propulsion Laboratory in both manned and unmanned exploration 
of space, the historic achievements that have been accomplished 
and the tragic loss of life associated with the program. 
Congressional action is necessary to authorize the striking and 
sale of commemorative coins by the United States Mint.

                                HEARINGS

    No hearings were held on H.R. 68 during the 109th Congress.

                        COMMITTEE CONSIDERATION

    The Committee on Financial Services met in open session on 
April 27, 2005, and ordered H.R. 68 reported to the House, as 
amended, by a voice vote.

                            COMMITTEE VOTES

    Clause 3(b) of rule XIII of the Rules of the House of 
Representatives requires the Committee to list the record votes 
on the motion to report legislation and amendments thereto. No 
record votes were taken in conjunction with the consideration 
of this legislation. A motion by Mr. Oxley to report the bill 
as amended to the House with a favorable recommendation was 
agreed to by a voice vote.
    The Committee considered the following amendment:
    An amendment in the nature of a substitute by Mr. Oxley, 
No. 1, making various substantive and technical changes to the 
bill, was agreed to by a voice vote.

                      COMMITTEE OVERSIGHT FINDINGS

    Pursuant to clause 3(c)(1) of rule XIII of the Rules of the 
House of Representatives, the Committee regularly examines the 
operations of the Mint and the commemorative coin program, and 
the Committee's findings that are reflected in this report.

                    PERFORMANCE GOALS AND OBJECTIVES

    Pursuant to clause 3(c)(4) of rule XIII of the Rules of the 
House of Representatives, the Committee establishes the 
following performance related goals and objectives for this 
legislation: The coins will be struck and sold at such a price 
as to cover all real and imputed costs so that there is no 
actual cost to the government, and surcharges will be paid only 
after satisfaction of section 5134(f) of title 31, United 
States Code.

   NEW BUDGET AUTHORITY, ENTITLEMENT AUTHORITY, AND TAX EXPENDITURES

    In compliance with clause 3(c)(2) of rule XIII of the Rules 
of the House of Representatives, the Committee adopts as its 
own the estimate of budget authority, entitlement authority, or 
tax expenditures or revenues contained in the cost estimate 
prepared by the Director of the Congressional Budget Office 
pursuant to section 402 of the Congressional Budget Act.

                        COMMITTEE COST ESTIMATE

    The Committee adopts as its own the cost estimate prepared 
by the Director of the Congressional Budget Office pursuant to 
section 402 of the Congressional Budget Act of 1974.

                  CONGRESSIONAL BUDGET OFFICE ESTIMATE

    Pursuant to clause 3(c)(3) of rule XIII of the Rules of the 
House of Representatives, the following is the cost estimate 
provided by the Congressional Budget Office pursuant to section 
402 of the Congressional Budget Act of 1974:
                                     U.S. Congress,
                               Congressional Budget Office,
                                      Washington, DC, May 16, 2005.
Hon. Michael G. Oxley,
Chairman, Committee on Financial Services,
House of Representatives, Washington, DC.
    Dear Mr. Chairman: The Congressional Budget Office has 
prepared the enclosed cost estimate for H.R. 68, the NASA and 
JPL 50th Anniversary Commemorative Coin Act.
    If you wish further details on this estimate, we will be 
pleased to provide them. The CBO staff contact is Matthew 
Pickford.
            Sincerely,
                                       Douglas Holtz-Eakin,
                                                          Director.
    Enclosure.

H.R. 68--NASA and JPL 50th Anniversary Commemorative Coin Act

    Summary: H.R. 68 would authorize the U.S. Mint to produce a 
$50 gold coin and a $1 silver coin in calendar year 2008 to 
commemorate the 50th anniversary of the establishment of the 
National Aeronautics and Space Administration (NASA) and the 
Jet Propulsion Laboratory (JPL). The legislation would specify 
a surcharge on the sales price of $50 for the gold coin and $10 
for the silver coin and would designate the NASA Family 
Assistance Fund, a nonprofit entity, that provides financial 
assistance to families of deceased NASA personnel, as the 
recipient of the income from those surcharges. CBO estimates 
that enacting H.R. 68 would have no significant net impact on 
direct spending over the 2005-2015 period. Enacting this bill 
would not affect revenues.
    H.R. 68 contains no intergovernmental or private-sector 
mandates as defined in the Unfunded Mandates Reform Act (UMRA) 
and would not affect the budgets of state, local, or tribal 
governments.
    Major provisions: H.R. 68 would commemorate the 50th 
anniversary of the National Aeronautics and Space 
Administration and the Jet Propulsion Laboratory by directing 
the Mint to produce a $50 gold coin with an image of the Sun 
and nine $1 silver coins representing all the planets in our 
solar system. This program would be one of the largest and most 
complex commemorative coin programs ever managed by the Mint.
    The legislation would authorize the Mint to produce 50,000 
of the $50 gold coins and 3.6 million $1 silver coins in 
calendar year 2008. The gold and silver coins would have 
distinctive tactile and visual features with realistic and 
scientifically accurate descriptions ofthe planets and the 
accomplishments of NASA and JPL. In addition, each federal agency and 
U.S. instrumentality that has in its possession any craft or part of 
craft that flew into space would be directed to provide the Mint with 
any gold, silver, copper, or any other precious metals that may be used 
in the production of the commemorative coins.
    Estimated cost to the Federal Government: The estimated 
budgetary impact of H.R. 68 is shown in the following table. 
The costs of this legislation fall within budget function 800 
(general government).

----------------------------------------------------------------------------------------------------------------
                                                                  By fiscal year, in millions of dollars--
                                                           -----------------------------------------------------
                                                              2005     2006     2007     2008     2009     2010
----------------------------------------------------------------------------------------------------------------
                                           CHANGES IN DIRECT SPENDING

Receipt of Coin Surcharges:
    Estimated Budget Authority............................        0        0        0      -23        0        0
    Estimated Outlays.....................................        0        0        0      -23        0        0
Spending of Coin Surcharges:
    Estimated Budget Authority............................        0        0        0        0       23        0
    Estimated Outlays.....................................        0        0        0        0       23        0
Total Changes:
    Estimated Budget Authority............................        0        0        0      -23       23        0
    Estimated Outlays.....................................        0        0        0      -23       23        0
----------------------------------------------------------------------------------------------------------------

    Basis of estimate: H.R. 68 could raise as much as $38.5 
million in surcharges if the Mint sells the maximum number of 
authorized coins. However, recent commemorative coin sales 
suggest that receipts would be about $23 million. Under current 
law, the Mint must ensure that it does not lose money producing 
commemorative coins before transferring any surcharges to a 
recipient organization. In addition the recipient organization 
is responsible to match all coin surcharges with funds raised 
from the private sector within two years, or the surcharge 
amounts are deposited with the Treasury as miscellaneous 
receipts.
    CBO expects that those receipts from such surcharges would 
be transferred to the NASA Family Assistance Fund in fiscal 
year 2009. Thus, we estimate that the act would reduce direct 
spending by $23 million in 2008 and would increase direct 
spending by $23 million in 2009. Excluding surcharges, CBO 
expects that the Mint would retain and spend any additional net 
proceeds generated from such sales to fund other commercial 
activities and would have a negligible net budgetary impact 
over time.
    In addition, CBO expects that the Mint would use gold 
obtained from the reserves held at the Treasury to produce the 
gold coin. Because the budget treats the sale of gold as a 
means of financing governmental operations--that is, the 
Treasury's receipts from such sales do not affect the size of 
the deficit--CBO has not included such receipts in this 
estimate. CBO estimates that H.R. 68 would provide the federal 
government with about $2 million in additional cash (in 
exchange for gold) for financing the federal deficit in fiscal 
year 2008.
    Intergovernmental and private-sector impact: H.R. 68 
contains no intergovernmental or private-sector mandates as 
defined in UMRA and would not affect the budgets of state, 
local, or tribal governments.
    Estimate prepared by: Federal Costs: Matthew Pickford. 
Impact on State, Local, and Tribal Governments: Sarah Puro. 
Impact on the Private Sector: Paige Piper/Bach.
    Estimate approved by: Peter H. Fontaine, Deputy Assistant 
Director for Budget Analysis.

                       FEDERAL MANDATES STATEMENT

    The Committee adopts as its own the estimate of Federal 
mandates prepared by the Director of the Congressional Budget 
Office pursuant to section 423 of the Unfunded Mandates Reform 
Act.

                      ADVISORY COMMITTEE STATEMENT

    No advisory committees within the meaning of section 5(b) 
of the Federal Advisory Committee Act were created by this 
legislation.

                   CONSTITUTIONAL AUTHORITY STATEMENT

    Pursuant to clause 3(d)(1) of rule XIII of the Rules of the 
House of Representatives, the Committee finds that the 
Constitutional Authority of Congress to enact this legislation 
is provided by Article 1, section 8, clause 1 (relating to the 
general welfare of the United States) and clause 3 (relating to 
the power to regulate interstate commerce).

                  APPLICABILITY TO LEGISLATIVE BRANCH

    The Committee finds that the legislation does not relate to 
the terms and conditions of employment or access to public 
services or accommodations within the meaning of section 
102(b)(3) of the Congressional Accountability Act.

             SECTION-BY-SECTION ANALYSIS OF THE LEGISLATION

Section 1. Short title

    This section establishes the short title of the bill, the 
``NASA and JPL 50th Anniversary Commemorative Coin Act.''

Section 2. Coin specifications

    This section authorizes the Secretary of the Treasury to 
mint and issue, in 2008, no more than 50,000 $50 gold coins, 
and no more than 400,000 $1 silver coins of each of the nine 
design specifications.

Section 3. Design of coins

    The design of the coins shall be emblematic of the 
historical achievements of the National Aeronautics and Space 
Administration and the Jet Propulsion Laboratory over the past 
50 years.
    The $50 gold coins will bear an image of the sun on the 
obverse, and a design emblematic of the sacrifice of the United 
States astronauts who lost their lives in the line of duty on 
the reverse.
    The $1 silver coins will bear nine different designs 
consistent with an image of one of the nine planets of the 
solar system, including Earth, on the obverse. For the eight 
different silver coins with obverses other than Earth, the 
reverse designs shall be emblematic of the missions of the Jet 
Propulsion Laboratory to the plant depicted on the obverse. The 
reverse of the $1 coin bearing an image of the Earth on the 
obverse will be an image emblematic of manned exploration of 
the Earth's orbit and space and of the Moon missions of NASA. 
The images for the designs of the coins shall be scientifically 
accurate and reminiscent of the artwork on coins during the 
``Golden Age of Coinage'' which occurred at the beginning of 
the Twentieth Century.
    Lastly, the design for the coins shall be selected by the 
Secretary of the Treasury after consultation with the 
Administrator of the National Aeronautics and Space 
Administration, the Director of the Jet Propulsion Laboratory, 
the Commission of Fine Arts, and reviewed by the Citizens 
Coinage Advisory Committee.

Section 4. Symbolic inclusion of metals that have flown in space

    Each Federal agency and instrumentality of the United 
States that has in its possession any craft or part that flew 
in space shall provide the Mint unneeded metal for use in the 
production of the coins under this Act. A Sense of the Congress 
requires adequate authentication of the provenance of the 
metal.

Section 5. Issuance of coins

    The Secretary of the Treasury may issue coins minted under 
this Act beginning January 1, 2008. No coins may be minted 
under this Act after December 31, 2008.

Section 6. Sale of coins

    The coins issued under this Act shall be sold by the 
Secretary of the Treasury at a price equal to the face value of 
the coins, plus the surcharge required under section 7(a) and 
the cost of designing and issuing the coins (i.e., labor, 
materials, dies, use of machinery, overhead expenses, and 
marketing).

Section 7. Surcharges

    This section calls for a surcharge of $50 per coin for the 
$50 coin, and surcharge of $10 per coin for the $1 coins. All 
surcharges will be paid to the NASA Family Assistance Fund for 
the purposes of providing need-based financial assistance to 
the families of NASA personnel who die as a result of injuries 
suffered in the performance of their official duties.