(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
Jamestown 400th Anniversary Commemorative Coin Act of 2003 - Directs the Secretary of the Treasury (the Secretary) to mint and issue not more than 100,000 $5 gold coins and 500,000 $1 silver coins, which shall be emblematic of the settlement of Jamestown, Virginia (the first permanent English settlement in America).
Prohibits: (1) any provision of law governing procurement or public contracts from being applicable to the procurement of goods and services necessary for carrying out the provisions of this Act; and (2) such general waiver of procurement regulations from relieving any person entering into a contract under the authority of this Act from complying with any law relating to equal employment opportunity.
Provides for a $35 per coin surcharge for the $5 dollar coins and $10 per coin for the $1 dollar coins. Directs the Secretary to distribute: (1) 50 percent of the surcharges to the Jamestown-Yorktown Foundation of Virginia to support programs to promote the understanding of the legacies of Jamestown; and (2) 50 percent to sustain the ongoing mission of preserving Jamestown, to enhance national and international educational programs, to improve infrastructure and archeological research activities, and to conduct other programs to support the commemoration of the 400th anniversary of the settlement of Jamestown. States that entities specified for such purposes are the Secretary of the Department of the Interior, the President of the Association for the Preservation of Virginia Antiquities, and the Chairman of the Jamestown-Yorktown Foundation.
Requires the Secretary to take such actions as may be necessary to ensure that minting and issuing coins under this Act will not result in any net cost to the U.S. Government.
Prohibits the issuance of a coin unless the Secretary has received: (1) full payment for the coin; (2) security satisfactory to the Secretary to indemnify the United States for full payment; or (3) a guarantee of full payment satisfactory to the Secretary from a depository institution, the deposits of which are insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration.
[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 976 Introduced in Senate (IS)]
108th CONGRESS
1st Session
S. 976
To provide for the issuance of a coin to commemorate the 400th
anniversary of the Jamestown settlement.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
May 1, 2003
Mr. Warner (for himself and Mr. Allen) introduced the following bill;
which was read twice and referred to the Committee on Banking,
Housing, and Urban AffairsYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY
_______________________________________________________________________
A BILL
To provide for the issuance of a coin to commemorate the 400th
anniversary of the Jamestown settlement.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Jamestown 400th Anniversary
Commemorative Coin Act of 2003''.
SEC. 2. FINDINGS.
Congress finds that--
(1) the founding of the colony at Jamestown, Virginia in
1607, the first permanent English colony in America, and the
capital of Virginia for 92 years, has major significance in the
history of the United States;
(2) the Jamestown settlement brought people from throughout
the Atlantic Basin together to form a multicultural society,
including English, other Europeans, Native Americans, and
Africans;
(3) the economic, political, religious, and social
institutions that developed during the first 9 decades of the
existence of Jamestown continue to have profound effects on the
United States, particularly in English common law and language,
cross cultural relationships, manufacturing, and economic
structure and status;
(4) the National Park Service, the Association for the
Preservation of Virginia Antiquities, and the Jamestown-
Yorktown Foundation of the Commonwealth of Virginia
collectively own and operate significant resources related to
the early history of Jamestown;
(5) in 2000, Congress established the Jamestown 400th
Commemoration Commission to ensure a suitable national
observance of the Jamestown 2007 anniversary and to support and
facilitate marketing efforts for a commemorative coin, stamp,
and related activities for the Jamestown 2007 observances;
(6) a commemorative coin will bring national and
international attention to the lasting legacy of Jamestown,
Virginia; and
(7) the proceeds from a surcharge on the sale of such
commemorative coin will assist the financing of a suitable
national observance in 2007 of the 400th anniversary of the
founding of Jamestown, Virginia.
SEC. 3. COIN SPECIFICATIONS.
(a) $5 Gold Coins.--The Secretary of the Treasury (in this Act
referred to as the ``Secretary'') shall issue not more than 100,000 $5
coins, which shall--
(1) weigh 8.359 grams;
(2) have a diameter of 0.850 inches; and
(3) contain 90 percent gold and 10 percent alloy.
(b) $1 Silver Coins.--The Secretary shall issue not more than
500,000 $1 coins, 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.
(c) Legal Tender.--The coins minted under this Act shall be legal
tender, as provided in section 5103 of title 31, United States Code.
(d) Numismatic Items.--For purposes of section 5132(a)(1) of title
31, United States Code, all coins minted under this Act shall be
considered to be numismatic items.
(e) Sources of Bullion.--
(1) Gold.--The Secretary shall obtain gold for minting
coins under this Act pursuant to the authority of the Secretary
under section 5116 of title 31, United States Code.
(2) Silver.--The Secretary shall obtain silver for the
coins minted under this Act only from stockpiles established
under the Strategic and Critical Minerals Stock Piling Act (50
U.S.C. 98 et seq.).
SEC. 4. DESIGN OF COINS.
(a) Design Requirements.--
(1) In general.--The design of the coins minted under this
Act shall be emblematic of the settlement of Jamestown,
Virginia, the first permanent English settlement in America.
(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 ``2007''; and
(C) inscriptions of the words ``Liberty'', ``In God
We Trust'', ``United States of America'', and ``E
Pluribus Unum''.
(b) Design Selection.--Subject to subsection (a), the design for
the coins minted under this Act shall be--
(1) selected by the Secretary after consultation with--
(A) the Jamestown 2007 Steering Committee, created
by the Jamestown-Yorktown Foundation of the
Commonwealth of Virginia;
(B) the National Park Service; and
(C) the Commission of Fine Arts; and
(2) reviewed by the Citizens Commemorative Coin Advisory
Committee.
SEC. 5. ISSUANCE OF COINS.
(a) Quality of Coins.--Coins minted under this Act shall be issued
in uncirculated and proof qualities.
(b) Mint Facility.--Only 1 facility of the United States Mint may
be used to strike any particular quality of the coins minted under this
Act.
(c) Period for Issuance.--The Secretary may issue coins minted
under this Act only during the period beginning on January 1, 2007, and
ending on December 31, 2007.
SEC. 6. SALE OF COINS.
(a) Sale Price.--The coins minted 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 subsection (c) 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) Bulk Sales.--The Secretary shall make bulk sales of the coins
minted under this Act at a reasonable discount.
(d) Surcharge.--All sales of coins minted under this Act shall
include a surcharge of--
(1) $35 per coin for the $5 coin; and
(2) $10 per coin for the $1 coin.
SEC. 7. GENERAL WAIVER OF PROCUREMENT REGULATIONS.
(a) In General.--Except as provided in subsection (b), no provision
of law governing procurement or public contracts shall be applicable to
the procurement of goods and services necessary for carrying out the
provisions of this Act.
(b) Equal Employment Opportunity.--Subsection (a) shall not relieve
any person entering into a contract under the authority of this Act
from complying with any law relating to equal employment opportunity.
SEC. 8. DISTRIBUTION OF SURCHARGES.
(a) Recipients.--
(1) In general.--All surcharges received by the Secretary
from the sale of coins minted under this Act shall be promptly
paid by the Secretary to the recipients listed under paragraphs
(2) and (3).
(2) Jamestown-yorktown foundation.--The Secretary shall
distribute 50 percent of the surcharges described under
paragraph (1) to the Jamestown-Yorktown Foundation of the
Commonwealth of Virginia, to support programs to promote the
understanding of the legacies of Jamestown.
(3) Other recipients.--
(A) In general.--The Secretary shall distribute 50
percent of the surcharges described under paragraph (1)
to the entities specified under subparagraph (B), in
equal shares, for the purposes of--
(i) sustaining the ongoing mission of
preserving Jamestown;
(ii) enhancing the national and
international educational programs;
(iii) improving infrastructure and
archaeological research activities; and
(iv) conducting other programs to support
the commemoration of the 400th anniversary of
Jamestown.
(B) Entities specified.--Entities specified under
this subparagraph are--
(i) the Secretary of the Department of the
Interior;
(ii) the President of the Association for
the Preservation of Virginia Antiquities; and
(iii) the Chairman of the Jamestown
Yorktown Foundation.
(b) Audits.--The Comptroller General of the United States shall
have the right to examine such books, records, documents, and other
data of the entities specified in subsection (a), as may be related to
the expenditure of amounts distributed under subsection (a).
SEC. 9. FINANCIAL ASSURANCES.
(a) No Net Cost to the Government.--The Secretary shall take such
actions as may be necessary to ensure that minting and issuing coins
under this Act will not result in any net cost to the United States
Government.
(b) Payment for Coins.--A coin shall not be issued under this Act
unless the Secretary has received--
(1) full payment for the coin;
(2) security satisfactory to the Secretary to indemnify the
United States for full payment; or
(3) a guarantee of full payment satisfactory to the
Secretary from a depository institution, the deposits of which
are insured by the Federal Deposit Insurance Corporation or the
National Credit Union Administration.
<all>
Introduced in Senate
Sponsor introductory remarks on measure. (CR S5667)
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S5667-5668)
Committee on Banking, Housing, and Urban Affairs. Ordered to be reported without amendment favorably.
Committee on Banking, Housing, and Urban Affairs. Reported by Senator Shelby without amendment. Without written report.
Committee on Banking, Housing, and Urban Affairs. Reported by Senator Shelby without amendment. Without written report.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 633.
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