Leif Ericson Millennium Commemorative Coin Act

Leif Ericson Millennium Commemorative Coin Act - Directs the Secretary of the Treasury to mint and issue one-dollar 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.

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.
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