Mandates that all coin surcharges be paid to the Leifur Eirikson Foundation for the purpose of funding student exchanges between the United States and Iceland.
[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[S. 1710 Introduced in Senate (IS)]
106th CONGRESS
1st Session
S. 1710
To require the Secretary of the Treasury to mint coins in conjunction
with the minting of coins by the Republic of Iceland in commemoration
of the millennium of the discovery of the New World by Leif Ericson.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
October 8, 1999
Mr. Harkin (for himself and Mr. Grams ) 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 conjunction
with the minting of coins by the Republic of Iceland in commemoration
of the millennium of the discovery of the New World by Leif Ericson.
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 ``Leif Ericson Millennium
Commemorative Coin Act''.
SEC. 2. COIN SPECIFICATIONS.
(a) $1 Silver Coins.--In conjunction with the simultaneous minting
and issuance of commemorative coins by the Republic of Iceland in
commemoration of the millennium of the discovery of the New World by
Leif Ericson, the Secretary of the Treasury (hereafter in this Act
referred to as the ``Secretary'') shall mint and 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.
(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 section 5136 of title 31,
United States Code, all coins minted under this Act shall be considered
to be numismatic items.
SEC. 3. SOURCES OF BULLION.
The Secretary may obtain silver for minting coins under this Act
from any available source, including stockpiles established under the
Strategic and Critical Materials Stock Piling Act.
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 millennium of the discovery of
the New World by Leif Ericson.
(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 ``2000''; and
(C) inscriptions of the words ``Liberty'', ``In God
We Trust'', ``United States of America'', and ``E
Pluribus Unum''.
(b) Selection.--The design for the coins minted under this Act
shall be--
(1) selected by the Secretary after consultation with the
Leifur Eirikson Foundation and 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) Commencement of Issuance.--The Secretary may issue coins minted
under this Act beginning January 1, 2000.
(d) Termination of Minting Authority.--No coins may be minted under
this Act after December 31, 2000.
SEC. 6. SURCHARGES.
(a) In General.--All sales of coins minted under this Act shall
include a surcharge of $10 per coin.
(b) Distribution.--All surcharges received by the Secretary from
the sale of coins issued under this Act shall be promptly paid by the
Secretary to the Leifur Eirikson Foundation for the purpose of funding
student exchanges between students of the United States and students of
Iceland.
(c) Audits.--The Leifur Eirikson Foundation shall be subject to the
audit requirements of section 5134(f)(2) of title 31, United States
Code, with regard to the amounts received by the Foundation under
subsection (b).
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.
<all>
Introduced in Senate
Sponsor introductory remarks on measure. (CR S12319-12320)
Read twice and referred to the Committee on Banking.
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