A bill to authorize the minting and issuance of coins in commemoration of the quincentenary of the first voyage to the New World by Christopher Columbus and to establish the Christopher Columbus Quincentenary Scholarship Foundation and an Endowment Fund, and for related purposes.
Christopher Columbus Quincentenary Commemorative Coin and Scholarship Endowment Act of 1991 - Directs the Secretary of the Treasury to mint and issue not more than a specified number of five-dollar gold coins, one-dollar silver coins, and half-dollar clad coins emblematic of the quincentenary of Columbus' encounter with the New World.
Sets forth certain features of such coins and provides for their design, issuance, and sale. Terminates the minting of such coins after a certain deadline.
Establishes the Christopher Columbus Quincentenary Scholarship Foundation as an independent entity within the executive branch to promote educational activities for secondary students using funds deposited in the Christopher Columbus Quincentenary Scholarship Endowment Fund (the Fund). Requires the Board of Directors of the Foundation to appoint an Executive Secretary who shall be subject to its supervision. Outlines the Fund's operating parameters. Sets forth scholarship criteria for eligible students to be known as "Columbus Scholars." Mandates that the Foundation submit an annual status report to the Congress and the Secretary of Education. Sets forth guidelines for possible termination of the Fund and the Foundation.
Introduced in Senate
Read twice and referred to the Committee on Banking.
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