H. Rept. 109-134 - 109th Congress (2005-2006)
June 15, 2005, As Reported by the Financial Services Committee

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House Report 109-134 - LITTLE ROCK CENTRAL HIGH SCHOOL DESEGREGATION 50TH ANNIVERSARY COMMEMORATIVE COIN ACT




[House Report 109-134]
[From the U.S. Government Printing Office]



109th Congress                                            Rept. 109-134
                        HOUSE OF REPRESENTATIVES
 1st Session                                                     Part 1

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



 
    LITTLE ROCK CENTRAL HIGH SCHOOL DESEGREGATION 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. 358]

      [Including cost estimate of the Congressional Budget Office]

  The Committee on Financial Services, to whom was referred the 
bill (H.R. 358) to require the Secretary of the Treasury to 
mint coins in commemoration of the 50th anniversary of the 
desegregation of the Little Rock Central High School in Little 
Rock, Arkansas, and for other purposes, having considered the 
same, report favorably thereon with an amendment and recommend 
that the bill as amended do pass.

                                CONTENTS

                                                                   Page
Amendment........................................................     2
Purpose and Summary..............................................     3
Background and Need for Legislation..............................     3
Hearings.........................................................     3
Committee Consideration..........................................     3
Committee Votes..................................................     3
Committee Oversight Findings.....................................     4
Performance Goals and Objectives.................................     4
New Budget Authority, Entitlement Authority, and Tax Expenditures     4
Committee Cost Estimate..........................................     4
Congressional Budget Office Estimate.............................     4
Federal Mandates Statement.......................................     5
Advisory Committee Statement.....................................     5
Constitutional Authority Statement...............................     5
Applicability to Legislative Branch..............................     5
Section-by-Section Analysis of the Legislation...................     6

                               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 ``Little Rock Central High School 
Desegregation 50th Anniversary Commemorative Coin Act''.

SEC. 2. FINDINGS.

  The Congress finds the following:
          (1) September 2007, marks the 50th anniversary of the 
        desegregation of Little Rock Central High School in Little 
        Rock, Arkansas.
          (2) In 1957, Little Rock Central High was the site of the 
        first major national test for the implementation of the 
        historic decision of the United States Supreme Court in Brown, 
        et al. v. Board of Education of Topeka, et al., 347 U.S. 483 
        (1954).
          (3) The courage of the ``Little Rock Nine'' (Ernest Green, 
        Elizabeth Eckford, Melba Pattillo, Jefferson Thomas, Carlotta 
        Walls, Terrence Roberts, Gloria Ray, Thelma Mothershed, and 
        Minnijean Brown) who stood in the face of violence, was 
        influential to the Civil Rights movement and changed American 
        history by providing an example on which to build greater 
        equality.
          (4) The desegregation of Little Rock Central High by the 9 
        African American students was recognized by Dr. Martin Luther 
        King, Jr. as such a significant event in the struggle for civil 
        rights that in May 1958, he attended the graduation of the 
        first African American from Little Rock Central High School.
          (5) A commemorative coin will bring national and 
        international attention to the lasting legacy of this important 
        event.

SEC. 3. COIN SPECIFICATIONS.

  (a) Denominations.--The Secretary of the Treasury (hereinafter in 
this Act referred to as the ``Secretary'') shall mint and issue not 
more than 500,000 $1 coins each of which shall--
          (1) weigh 26.73 grams;
          (2) have a diameter of 1.500 inches; and
          (3) 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 5136 of title 31, 
United States Code, all coins minted under this Act shall be considered 
to be numismatic items.

SEC. 4. DESIGN OF COINS.

  (a) Design Requirements.--The design of the coins minted under this 
Act shall be emblematic of the desegregation of the Little Rock Central 
High School and its contribution to civil rights in America.
  (b) Designation and Inscriptions.--On each coin minted under this Act 
there shall be--
          (1) a designation of the value of the coin;
          (2) an inscription of the year ``2007''; and
          (3) inscriptions of the words ``Liberty'', ``In God We 
        Trust'', ``United States of America'', and ``E Pluribus Unum''.
  (c) Selection.--The design for the coins minted under this Act shall 
be--
          (1) selected by the Secretary after consultation with the 
        Commission of Fine Arts; and
          (2) reviewed by the Citizens Coinage Advisory Committee 
        established under section 5135 of title 31, United States Code.

SEC. 5. ISSUANCE OF COINS.

  (a) Quality of Coins.--Coins minted under this Act shall be issued in 
uncirculated and proof qualities.
  (b) Commencement of Issuance.--The Secretary may issue coins minted 
under this Act beginning January 1, 2007, except that the Secretary may 
initiate sales of such coins, without issuance, before such date.
  (c) Termination of Minting Authority.--No coins shall be minted under 
this Act after December 31, 2007.

SEC. 6. SALE OF COINS.

  (a) Sale Price.--Notwithstanding any other provision of law, the 
coins issued under this Act shall be sold by the Secretary at a price 
equal to the sum of the face value of the coins, the surcharge required 
under section 7(a) for the coins, and the cost of designing and issuing 
such coins (including labor, materials, dies, use of machinery, 
overhead expenses, and marketing).
  (b) Bulk Sales.--The Secretary shall make bulk sales of the coins 
issued under this Act at a reasonable discount.
  (c) Prepaid Orders at a Discount.--
          (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.

SEC. 7. SURCHARGES.

  (a) Surcharge Required.--All sales shall include a surcharge of $10 
per coin.
  (b) Distribution.--Subject to section 5134(f) of title 31, United 
States Code, all surcharges which are received by the Secretary from 
the sale of coins issued under this Act shall be promptly paid by the 
Secretary to the Secretary of the Interior for the protection, 
preservation, and interpretation of resources and stories associated 
with Little Rock Central High School National Historic Site, including 
the following:
          (1) Site improvements at Little Rock Central High School 
        National Historic Site.
          (2) Development of interpretive and education programs and 
        historic preservation projects.
          (3) Establishment of cooperative agreements to preserve or 
        restore the historic character of the Park Street and Daisy L. 
        Gatson Bates Drive corridors adjacent to the site.

                          PURPOSE AND SUMMARY

    H.R. 358, the ``Little Rock Central High School 
Desegregation 50th Anniversary Commemorative Coin Act,'' seeks 
to mark the fiftieth anniversary of the desegregation of Little 
Rock High School by the issuance of one-dollar silver 
commemorative coins in 2007. Surcharges on the sale of the 
coins would be paid to the Secretary of the Interior for use in 
efforts to protect, preserve, and interpret resources and 
stories associated with Little Rock Central High School 
National Historic Site.

                  BACKGROUND AND NEED FOR LEGISLATION

    The legislation seeks to recognize one of the crucial 
moments in the efforts to desegregate public schools through 
the sale of a commemorative coin. Surcharges on the sales of 
the coins would fund educational and preservation efforts at 
the site. 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. 358 during the 109th 
Congress.

                        COMMITTEE CONSIDERATION

    The Committee on Financial Services met in open session on 
April 27, 2005, and ordered H.R. 358 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 with 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, April 29, 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. 358, the Little 
Rock Central High School Desegregation 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,
                                     Elizabeth M. Robinson,
                               (For Douglas Holtz-Eakin, Director).
    Enclosure.

H.R. 358--Little Rock Central High School Desegregation 50th 
        Anniversary Commemorative Coin Act

    H.R. 358 would direct the U.S. Mint to produce a $1 silver 
coin in calendar year 2007 to commemorate the 50th anniversary 
of the desegregation of the Little Rock Central High School in 
Little Rock, Arkansas. The bill would specify a surcharge on 
the sales price of $10 for each coin and would designate the 
National Park Service as the recipient of the income from those 
surcharges. Although the bill would affect direct spending, CBO 
estimates that enacting H.R. 358 would have no significant net 
impact on the budget over the 2006-2010 period.
    Sales proceeds from the coins that would be authorized by 
H.R. 358 could raise as much as $5 million in surcharges if the 
Mint sells the maximum number of authorized coins. The 
experience of recent commemorative coin sales by the Mint, 
however, suggests that receipts would be about $1.5 million. 
Those receipts would be recorded in the budget as offsetting 
receipts (a credit against direct spending), mostly in fiscal 
year 2007. By law, the Mint must ensure that it does not lose 
money producing commemorative coins before transferring any 
surcharges to a designated recipient organization. CBO expects 
that receipts from the surcharges would be transferred and 
spent by the National Park Service in fiscal year 2008.
    H.R. 358 contains no intergovernmental or private-sector 
mandates as defined in Unfunded Mandates Reform Act and would 
not affect the budgets of state, local, or tribal governments.
    The CBO staff contact for this estimate is Matthew 
Pickford. This estimate was 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 
``Little Rock Central High School Desegregation 50th 
Anniversary Commemorative Coin Act.''

Section 2. Findings

    This section lists the following Congressional findings: 
(1) September 2007 marks the 50th anniversary of the 
desegregation of Little Rock Central High School in Little 
Rock, Arkansas; (2) In 1957, Little Rock Central High was the 
site of the first major national test for the implementation of 
the historic decision of the United States Supreme Court in 
Brown, et al v. Board of Education of Topeka, et al., 347 U.S. 
483 (1954); (3) The courage of the ``Little Rock Nine'' (Ernest 
Green, Elizabeth Eckford, Melba Pattillo, Jefferson Thomas, 
Carlotta Walls, Terrence Roberts, Gloria Ray, Thelma Mothershed 
and Minnijean Brown) who stood in the face of violence, was 
influential to the Civil Rights movement and changed American 
history by providing an example on which to build greater 
equality; (4) The desegregation of Little Rock Central High by 
the 9 African American students was recognized by Dr. Martin 
Luther King, Jr. as such a significant event in the struggle 
for civil rights that in May 1958, he attended the graduation 
of the first African American from Little Rock Central High 
School; (5) A commemorative coin will bring national and 
international attention to the legacy of this important event.

Section 3. Coin specifications

    This section authorizes the Secretary of the Treasury to 
mint and issue, in 2007, no more than 500,000 silver $1 coins.

Section 4. Design of coins

    The design for the coins shall be emblematic of the 
desegregation of Little Rock Central High School and its 
contribution to civil rights in America and selected by the 
Secretary of the Treasury after consultation with Commission of 
Fine Arts and reviewed by the Citizens Coinage Advisory 
Committee.

Section 5. Issuance of coins

    The Secretary of the Treasury may issue coins minted under 
this Act beginning January 1, 2007. However, sales may be 
initiated without issuance before January 1, 2007. Lastly, no 
coins shall be minted under this Act after December 31, 2007.

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 $10 per coin. After 
satisfying the ``matching funds requirement in 31 U.S.C, 
section 5134, all surcharges will be paid to the Secretary of 
the Interior for the protection, preservation, and 
interpretation of resources and stories associated with Little 
Rock Central High School National Historic Site.