National Future Farmers of America Commemorative Coin Act of 2011 - Directs the Secretary of the Treasury to mint and issue gold and silver coins in commemoration of the National Future Farmers of America Organization and the 85th anniversary of such Organization.
Authorizes the issuance of coins under this Act only for a one year period, beginning on January 1, 2014.
Requires all sales of coins minted under this Act to include a surcharge of $25 per gold coin and $10 per silver coin.
Requires all of the surcharges received from the sale of such coins to be paid to the National FFA Foundation in Indianapolis, Indiana, for the creation of an endowment to enhance and expand programs that encourage the development of leadership skills, personal growth, and career success through agricultural education and the Future Farmers of America.
[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2418 Introduced in House (IH)]
112th CONGRESS
1st Session
H. R. 2418
To require the Secretary of the Treasury to mint coins in commemoration
of the National Future Farmers of America Organization and the 85th
anniversary of the founding of the National Future Farmers of America
Organization.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
July 6, 2011
Mr. Braley of Iowa (for himself and Mr. Boswell) introduced the
following bill; which was referred to the Committee on Financial
Services
_______________________________________________________________________
A BILL
To require the Secretary of the Treasury to mint coins in commemoration
of the National Future Farmers of America Organization and the 85th
anniversary of the founding of the National Future Farmers of America
Organization.
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 ``National Future Farmers of America
Commemorative Coin Act of 2011''.
SEC. 2. FINDINGS.
Congress finds that--
(1) the National Future Farmers of America Organization
makes a positive difference in the lives of students by
developing their potential for leadership, personal growth, and
career success through agricultural education;
(2) the National Future Farmers of America Organization was
founded in 1928, as the ``Future Farmers of America'', to
provide leadership training for high school students of
vocational agriculture;
(3) the National Future Farmers of America Organization
created a national agricultural education model for use in
public school systems that has been adopted by youth leadership
organizations throughout the world;
(4) the National Future Farmers of America Organization
prepares its student members to think critically, work in
teams, and be successful in more than 300 careers relating to
the science, business, and technology of agriculture;
(5) approximately 9,000,000 living former members of the
National Future Farmers of America Organization are prominent
industry executives, members of Congress, community members,
farmers, and productive United States citizens;
(6) in 2011, the National Future Farmers of America
Organization had 523,309 members in 7,487 local chapters in all
50 States, Puerto Rico, and the United States Virgin Islands;
(7) the Future Farmers of America was chartered by Congress
in 1950, and continues to be an intracurricular educational
organization within public school systems throughout the United
States; and
(8) October 2013 will mark the beginning of a year of
celebration in honor of the 85th anniversary of the founding of
the National Future Farmers of America Organization.
SEC. 3. COIN SPECIFICATIONS.
(a) Denominations.--In commemoration of the National Future Farmers
of America Organization and the 85th anniversary of the National Future
Farmers of America Organization, the Secretary of the Treasury (in this
Act referred to as the ``Secretary'') shall mint and issue--
(1) not more than 100,000 gold coins, which shall--
(A) weigh 8.359 grams;
(B) have a diameter of 0.850 inches; and
(C) contain 90 percent gold and 10 percent alloy;
and
(2) not more than 500,000 silver coins, which shall--
(A) weigh 26.7 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 sections 5134 and 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.--
(1) In general.--The design of the coins minted under this
Act shall be emblematic of the 85-year history of the National
Future Farmers of America Organization.
(2) Designation and inscriptions.--On each coin minted
under this Act, there shall be--
(A) a designation of the value of the coin;
(B) inscriptions of the words ``Liberty'', ``In God
We Trust'', ``United States of America'', and ``E
Pluribus Unum''; and
(C) an inscription of the year 2014.
(b) Selection.--The design for the coins minted under this Act
shall be--
(1) selected by the Secretary, after consultation with the
National Future Farmers of America Organization and the
Commission of Fine Arts; and
(2) reviewed by the Citizens Coinage 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) Period of Issuance.--The Secretary may issue coins under this
Act only for the 1-year period beginning on January 1, 2014.
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 section 7 with respect to
such coins; and
(3) the cost of designing and minting the coins (including
labor, materials, dies, use of machinery, overhead expenses,
marketing, and shipping).
(b) Bulk Sales.--The Secretary shall make bulk sales of the coins
minted under this Act at a reasonable discount.
(c) 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.
SEC. 7. SURCHARGES.
(a) In General.--All sales of coins minted under this Act shall
include a surcharge of $25 per gold coin and $10 per silver coin.
(b) Distribution.--Subject to section 5134(f) of title 31, United
States Code, the Secretary shall pay all surcharges received by the
Secretary from the sale of coins minted under this Act to the National
FFA Foundation in Indianapolis, Indiana, to enhance and expand programs
that encourage agricultural literacy and the development of leadership
skills, personal growth, and career success through agricultural
education and the Future Farmers of America.
(c) Audits.--The Comptroller General of the United States is
authorized to examine such books, records, documents, and other data of
the organization described in subsection (b) as may be related to the
expenditures of amounts paid under subsection (b).
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Referred to the Subcommittee on Domestic Monetary Policy and Technology.
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