National Association for Stock Car Auto Racing (NASCAR) 75th Anniversary Commemorative Coin Act
This bill directs the Department of the Treasury to mint and issue $1 silver coins in recognition of the 75th anniversary of NASCAR.
All surcharges received by Treasury from the sale of such coins must be paid to the NASCAR Foundation.
[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2838 Introduced in House (IH)]
<DOC>
118th CONGRESS
1st Session
H. R. 2838
To require the Secretary of the Treasury to mint coins in commemoration
of the 75th anniversary of what is recognized as the first sanctioning
body created to promote a unified series of competitions, with an
organized group of race car drivers. The first such recognized race was
held at Daytona Beach on February 15, 1948, under the sanctioning of
the ``National Association for Stock Car Auto Racing'' (NASCAR).
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
April 25, 2023
Mr. Graves of Louisiana (for himself and Mr. Jackson of North Carolina)
introduced the following bill; which was referred to the Committee on
Financial Services, and in addition to the Committee on the Budget, for
a period to be subsequently determined by the Speaker, in each case for
consideration of such provisions as fall within the jurisdiction of the
committee concerned
_______________________________________________________________________
A BILL
To require the Secretary of the Treasury to mint coins in commemoration
of the 75th anniversary of what is recognized as the first sanctioning
body created to promote a unified series of competitions, with an
organized group of race car drivers. The first such recognized race was
held at Daytona Beach on February 15, 1948, under the sanctioning of
the ``National Association for Stock Car Auto Racing'' (NASCAR).
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 Association for Stock Car
Auto Racing (NASCAR) 75th Anniversary Commemorative Coin Act''.
SEC. 2. FINDINGS.
This Congress finds the following:
(1) On February 15, 2023, the National Association for
Stock Car Auto Racing (NASCAR) observed the 75th anniversary of
the first race hosted by a sanctioning body, held at Daytona
Beach, Florida.
(2) In December 1947, Bill France, Sr., organized several
meetings at the Streamline Hotel in Daytona Beach, Florida, at
which time his vision of an organized group of race car drivers
was conceived.
(3) On February 15, 1948, Red Bryon won the first
sanctioned body event, defeating Marshall Teague on the Daytona
Beach road course.
(4) More than 41,000 fans attended the Inaugural Daytona
500 on February 22, 1959, won by Lee Petty.
(5) At the Jacksonville, Florida, Speedway on December 1,
1963, Wendell Scott became the first Black driver to win a
NASCAR sanctioned race.
(6) In 1977, Janet Guthrie became the first woman to
compete in the Daytona 500.
(7) On February 18, 1979, CBS televised the first live
coverage of the Daytona 500.
(8) In August 1994, the Indianapolis Motor Speedway was
added to the race schedule.
(9) Betty Jane France founded The NASCAR Foundation in
2006, supporting causes that work to improve the lives of
children in need.
(10) On May 23, 2020, the inaugural NASCAR Hall of Fame
class (Bill France, Sr., Bill France, Jr., Richard Petty, Dale
Earnhardt, and Junior Johnson) is inducted in Charlotte, North
Carolina.
(11) Danica Patrick becomes the first female to win a pole
in the Daytona 500 in 2013.
(12) Jimmie Johnson makes history with his record-tying
seventh race championship on November 20, 2016.
(13) Before a sold-out crowd of 101,500 fans at the Daytona
International Speedway on February 20, 2022, the Next-Gen car
debuted in the 64th annual Daytona 500.
(14) NASCAR has grown from the small organization formed on
the sands of Daytona Beach to one of the most popular sports in
the world.
SEC. 3. COIN SPECIFICATIONS.
(a) $1 Silver Coins.--The Secretary of the Treasury (hereafter in
this Act referred to as the ``Secretary'') shall mint and issue $1
coins in recognition of the NASCAR 75th anniversary, which shall--
(1) weigh 26.73 grams;
(2) have a diameter of 1.500 inches; and
(3) contain not less than 90 percent silver.
(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. DESIGNS OF COINS.
(a) Design Requirements.--
(1) In general.--The design of coins minted under this Act
shall be emblematic of the National Association for Stock Car
Auto Racing and the competitive spirit of American auto racing
enthusiasts.
(2) Designs and inscriptions.--On the coin minted under
this Act, there shall be--
(A) a designation of the value of the coin;
(B) an inscription of the year ``2023''; and
(C) inscriptions of the words ``Liberty'', ``In God
We Trust'', ``United States of America'', and ``E
Pluribus Unum''.
(b) Selection.--The designs for the coins minted under this Act
shall be--
(1) selected by the Secretary, after consultation with the
NASCAR Foundation 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) Mint Facility.--Only 1 facility in 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 1-year period beginning on January 1,
2023.
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) Bulk Sales.--The Secretary shall make bulk sales of the coins
issued 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 issued under this Act shall
include a surcharge of $20 per coin for the $1 coin.
(b) Distribution.--Subject to section 5134(f)(1) 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 NASCAR Foundation for application to general expenses
associated with the fulfillment of the mission of The NASCAR
Foundation.
(c) Audits.--The Comptroller General of the United States shall
have the right to examine such books, records, documents, and other
data of each of the organizations referred to in subsection (b) as may
be related to the expenditures of amounts paid under that subsection.
(d) Limitation.--Notwithstanding subsection (a), no surcharge may
be included with respect to the issuance under this Act of any coin
during a calendar year if, as a result of the time of such issuance,
the issuance of such coin would result in the number of commemorative
coin programs issued during such year to exceed the annual 2
commemorative coin program issuance limitation under section 5112
(m)(1) of title 31, United States Code (as in effect on the date of the
enactment of this Act). The Secretary of the Treasury may issue
guidance to carry out this subsection.
SEC. 8. FINANCIAL ASSURANCES.
The Secretary shall take such actions as may be necessary to ensure
that--
(1) minting and issuing coins under this Act will not
result in any net cost to the United States Government; and
(2) no funds, including applicable surcharges, are
disbursed to any recipient designated in section 7 until the
total cost of designing and issuing all of the coins authorized
by this Act (including labor, materials, dies, use of
machinery, overhead expenses, marketing, and shipping) is
recovered by the United States Treasury, consistent with
sections 5112(m) and 5134(f) of title 31, United States Code.
SEC. 9. BUDGETARY EFFECTS.
(a) Statutory PAYGO Scorecards.--The budgetary effects of this
section shall not be entered on either PAYGO Scorecard maintained
pursuant to section 4(d) of the Statutory Pay-As-You-Go Act of 2010
(U.S.C. 933(d)).
(b) Senate PAYGO Scorecards.--The budgetary effects of this section
shall not be entered on any PAYGO scorecard maintained for purposes of
section 4105 of H. Con. Res.71 (115th Congress).
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Introduced in House
Introduced in House
Referred to the Committee on Financial Services, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Financial Services, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
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