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[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 2265 Introduced in Senate (IS)]
<DOC>
119th CONGRESS
1st Session
S. 2265
To require the Secretary of the Treasury to mint coins in commemoration
of the 2028 Olympic and Paralympic Games in Los Angeles, California,
and the 2034 Olympics and Paralympic Winter Games in Salt Lake City,
Utah.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
July 14, 2025
Mr. Padilla (for himself, Mr. Curtis, Mr. Schiff, and Mr. Mullin)
introduced the following bill; which was read twice and referred to the
Committee on Banking, Housing, and Urban Affairs
_______________________________________________________________________
A BILL
To require the Secretary of the Treasury to mint coins in commemoration
of the 2028 Olympic and Paralympic Games in Los Angeles, California,
and the 2034 Olympics and Paralympic Winter Games in Salt Lake City,
Utah.
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 ``America's Olympic and Paralympic
Games Commemorative Coins Act''.
SEC. 2. FINDINGS.
Congress finds the following:
(1) The 2028 Olympic and Paralympic Games, officially known
as the Games of the XXXIV Olympiad or ``LA28'', will be held in
Los Angeles, California.
(2) The 2034 Olympic and Paralympic Winter Games,
officially known as the XXVII Olympic Winter Games 2034, will
be held in Salt Lake City, Utah.
(3) This marks the return of the Olympic and Paralympic
Games to the United States for the first time in 26 years,
following the successful 2002 Olympic and Paralympic Winter
Games in Salt Lake City.
(4) The United States has hosted the modern Olympic Games 9
times, with the 2028 Games becoming the third time Los Angeles
will host the summer Olympic Games and the 2034 Games becoming
the second time Salt Lake City will host the Olympic Winter
Games.
(5) The Paralympic Games will celebrate its 80th
anniversary in 2028, with Los Angeles hosting the Paralympic
Games for the first time.
(6) Unlike some other countries, Olympic Games in the
United States are privately funded. The LA28 and Salt Lake
City-Utah 2034 Games maintain this model with its revenue
generated by corporate partners, broadcast rights, licensing,
hospitality, and ticket sales.
(7) With the Paralympic Games coming to the United States,
the 2028 and 2034 Olympic and Paralympic Games Commemorative
Coin Program have the opportunity to increase awareness and
create more inclusivity for people with disabilities with the
creation of a single, unifying coin to commemorate the Games.
SEC. 3. DEFINITIONS.
In this Act, the term ``Secretary'' means the Secretary of the
Treasury.
SEC. 4. 2028 OLYMPIC AND PARALYMPIC COIN PROGRAM.
(a) Coin Specifications.--
(1) Denominations.--The Secretary shall mint and issue the
following coins in commemoration of the 2028 Olympic and
Paralympic Games in Los Angeles, California:
(A) $5 gold coins.--Not more than 100,000 $5 coins,
each of which shall--
(i) weigh 8.359 grams;
(ii) have a diameter of 0.850 inches; and
(iii) contain not less than 90 percent
gold.
(B) $1 silver coins.--Not more than 500,000 $1
coins, each of which shall--
(i) weigh 26.73 grams;
(ii) have a diameter of 1.500 inches; and
(iii) contain not less than 90 percent
silver.
(C) Half-dollar clad coins.--Not more than 300,000
half-dollar coins, each of which shall--
(i) weigh 11.34 grams;
(ii) have a diameter of 1.205 inches; and
(iii) be minted to the specifications for
half-dollar coins contained in section 5112(b)
of title 31, United States Code.
(D) Proof silver $1 coins.--Not more than 100,000
proof silver $1 coins, each of which shall--
(i) weigh 5 ounces;
(ii) have a diameter of 3 inches; and
(iii) contain .999 fine silver.
(2) Legal tender.--The coins minted under this section
shall be legal tender, as provided in section 5103 of title 31,
United States Code.
(3) Numismatic items.--For purposes of sections 5134 and
5136 of title 31, United States Code, all coins minted under
this section shall be considered to be numismatic items.
(4) Mintage limit exception.--If the Secretary determines,
based on independent, market-based research conducted by the
U.S. Olympic and Paralympic Committee, that the mintage levels
described in this section are not adequate to meet public
demand, the Secretary may increase the mintage levels as the
Secretary determines is necessary to meet public demand.
(b) Designs of Coins.--
(1) Design requirements.--
(A) In general.--The designs of the coins minted
under this section shall be emblematic of the
participation of United States athletes in the LA28
Games.
(B) Designation and inscriptions.--On each coin
minted under this section, there shall be--
(i) a designation of the value of the coin;
(ii) an inscription of the year ``2028'';
and
(iii) inscriptions of the words
``Liberty'', ``In God We Trust'', ``United
States of America'', and ``E Pluribus Unum''.
(C) Selection of designs.--The designs for the
coins minted under this section shall be--
(i) selected by the Secretary after
consultation with--
(I) the United States Olympic and
Paralympic Properties; and
(II) the Commission of Fine Arts;
and
(ii) reviewed by the Citizens Coinage
Advisory Committee.
(c) Issuance of Coins.--
(1) Quality of coins.--The Secretary may issue coins minted
under this section in uncirculated and proof qualities.
(2) Period of issuance.--The Secretary may issue coins
minted under this section only during the 1-year period
beginning on January 1, 2028.
(d) Sale of Coins.--
(1) Sale price.--The coins issued under this section shall
be sold by the Secretary at a price equal to the sum of--
(A) the face value of the coins;
(B) the surcharge provided in subsection (e)(1)
with respect to the coins; and
(C) the cost of designing and issuing the coins
(including labor, materials, dies, use of machinery,
overhead expenses, and marketing, and shipping).
(2) Bulk sales.--The Secretary shall make bulk sales of the
coins issued under this section at a reasonable discount.
(3) Prepaid orders.--
(A) In general.--The Secretary shall accept prepaid
orders for the coins minted under this section before
the issuance of such coins.
(B) Discount.--Sales with respect to prepaid orders
under subparagraph (A) shall be at a reasonable
discount.
(e) Surcharges.--
(1) In general.--All sales of coins issued under this
section shall include a surcharge of--
(A) $35 per coin for the $5 coin;
(B) $10 per coin for the $1 coin described in
subsection (a)(1)(B);
(C) $5 per coin for the half-dollar coin; and
(D) $50 per coin for the $1 proof silver coin.
(2) 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 section shall be
promptly paid by the Secretary to the United States Olympic and
Paralympic Properties for the objects and purposes related to
the hosting of the 2028 Olympic and Paralympic Games and to aid
in the execution of its legacy programs, including the
promotion of youth sports in the United States.
(3) Audits.--The United States Olympic and Paralympic
Properties 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 paragraph (2).
(4) Limitation.--Notwithstanding paragraph (1), no
surcharge may be included with respect to the issuance under
this section of any coin during a calendar year if, as 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 programs
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).
(f) Marketing and Financial Assurances.--
(1) In general.--The Secretary shall take such actions as
may be necessary to ensure that--
(A) minting and issuing coins under this section
result in no net cost to the Federal Government; and
(B) no funds, including applicable surcharges,
shall be disbursed to any recipient designated in
subsection (e)(2) until the total cost of designing and
issuing all of the coins authorized by this section,
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.
(2) Marketing and educational program.--The Secretary is
encouraged to develop and execute a marketing and educational
program, including appropriate cooperative marketing
opportunities with the United States Olympic and Paralympic
Properties and its licensees, to promote and sell the coins
authorized under this section.
SEC. 5. 2034 WINTER OLYMPIC AND PARALYMPIC COIN PROGRAM.
(a) Coin Specifications.--
(1) Denominations.--The Secretary shall mint and issue the
following coins in commemoration of the 2034 Olympic and
Paralympic Winter Games in Salt Lake City, Utah:
(A) $5 gold coins.--Not more than 100,000 $5 coins,
which shall--
(i) weigh 8.359 grams;
(ii) have a diameter of 0.850 inches; and
(iii) contain not less than 90 percent
gold.
(B) $1 silver coins.--Not more than 500,000 $1
coins, which shall--
(i) weigh 26.73 grams;
(ii) have a diameter of 1.500 inches; and
(iii) contain not less than 90 percent
silver.
(C) Half-dollar clad coins.--Not more than 300,000
half-dollar coins, which shall--
(i) weigh 11.34 grams;
(ii) have a diameter of 1.205 inches; and
(iii) be minted to the specifications for
half-dollar coins contained in section 5112(b)
of title 31, United States Code.
(D) Proof silver $1 coins.--Not more than 100,000
proof silver $1 coins, which shall--
(i) weigh 5 ounces;
(ii) have a diameter of 3 inches; and
(iii) contain .999 fine silver.
(2) Legal tender.--The coins minted under this section
shall be legal tender, as provided in section 5103 of title 31,
United States Code.
(3) Numismatic items.--For purposes of sections 5134 and
5136 of title 31, United States Code, all coins minted under
this section shall be considered to be numismatic items.
(4) Mintage limit exception.--If the Secretary determines,
based on independent, market based research conducted by the
U.S. Olympic and Paralympic Committee, that the mintage levels
described in this section are not adequate to meet public
demand, the Secretary may increase the mintage levels as the
Secretary determines is necessary to meet public demand.
(b) Designs of Coins.--
(1) Design requirements.--
(A) In general.--The designs of the coins minted
under this section shall be emblematic of the
participation of United States athletes in or the
staging of the 2034 Olympic and Paralympic Winter
Games.
(B) Designation and inscriptions.--On each coin
minted under this section, there shall be--
(i) a designation of the value of the coin;
(ii) an inscription of the year ``2034'';
and
(iii) inscriptions of the words
``Liberty'', ``In God We Trust'', ``United
States of America'', and ``E Pluribus Unum''.
(C) Selection of designs.--The designs for the
coins minted under this section shall be--
(i) selected by the Secretary after
consultation with--
(I) the Organizing Committee for
the 2034 Olympic and Paralympic Winter
Games; and
(II) the Commission of Fine Arts;
and
(ii) reviewed by the Citizens Coinage
Advisory Committee.
(c) Issuance of Coins.--
(1) Quality of coins.--The Secretary may issue coins minted
under this section in uncirculated and proof qualities.
(2) Period for issuance.--The Secretary may issue coins
under this section only during the 1-year period beginning on
January 1, 2034.
(d) Sale of Coins.--
(1) Sale price.--The coins issued under this section shall
be sold by the Secretary at a price equal to the sum of--
(A) the face value of the coins;
(B) the surcharge provided in subsection (e)(1)
with respect to such coins; and
(C) the cost of designing and issuing the coins
(including labor, materials, dies, use of machinery,
overhead expenses, marketing, and shipping).
(2) Bulk sales.--The Secretary shall make bulk sales of the
coins issued under this section at a reasonable discount.
(3) Prepaid orders.--
(A) In general.--The Secretary shall accept prepaid
orders for the coins minted under this section before
the issuance of such coins.
(B) Discount.--Sales prices respect to prepaid
orders under subparagraph (A) shall be at a reasonable
discount.
(e) Surcharges.--
(1) In general.--All sales of coins issued under this
section shall include--
(A) a surcharge of $35 per coin for the $5 coins;
(B) a surcharge of $10 per coin for the $1 coins;
(C) a surcharge of $5 per coin for the half-dollar
coins; and
(D) a surcharge of $50 per coin for the $1 proof
silver coins.
(2) 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 section shall be
promptly paid to the Organizing Committee for the 2034 Olympic
and Paralympic Winter Games for the objects and purposes
related to the hosting of the 2034 Olympic and Paralympic
Winter Games and to support its legacy ambitions, including the
protection and promotion of winter sports and programs for
young and elite athletes.
(3) Audits.--The Organizing Committee for the 2034 Olympic
and Paralympic Winter Games 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 paragraph (2).
(4) Limitation.--Notwithstanding paragraph (1), no
surcharge may be included with respect to the issuance under
this section of any coin during a calendar year if, as 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 programs
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).
(f) Marketing and Financial Assurances.--
(1) In general.--The Secretary shall take such actions as
may be necessary to ensure that--
(A) minting and issuing coins under this section
will not result in any net cost to the United States
Government; and
(B) no funds, including applicable surcharges,
shall be disbursed to any recipient designated in
subsection (e)(2) until the total cost of designing and
issuing all of the coins authorized by this section
(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.
(2) Marketing and educational program.--The Secretary is
encouraged to develop and execute a marketing and educational
program, including appropriate cooperative marketing
opportunities with the Organizing Committee for the 2034
Olympic and Paralympic Winter Games and its licensees, to
promote and sell the coins authorized under this section.
<all>
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S4337-4338)
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