Mandates that the proceeds from sales surcharges be paid promptly to the Library of Congress to purchase and maintain historical documents and other materials associated with the life and legacy of Dr. King.
[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[S. 3183 Introduced in Senate (IS)]
106th CONGRESS
2d Session
S. 3183
To require the Secretary of the Treasury to mint coins in commemoration
of the contributions of Dr. Martin Luther King, Jr., to the United
States.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
October 11 (legislative day, September 22), 2000
Ms. Landrieu 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 contributions of Dr. Martin Luther King, Jr., to the United
States.
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 ``Dr. Martin Luther King, Jr.,
Commemorative Coin Act''.
SEC. 2. FINDINGS.
Congress finds that--
(1) Dr. Martin Luther King, Jr. dedicated his life to
securing the Nation's fundamental principles of liberty and
justice for all its citizens;
(2) Dr. Martin Luther King, Jr. was the leading civil
rights advocate of his time, spearheading the civil rights
movement in the United States during the 1950's and 1960's;
(3) Dr. Martin Luther King, Jr. was the keynote speaker at
the August 28, 1963, March on Washington, the largest rally of
the civil rights movement, during which, from the steps of the
Lincoln Memorial and before a crowd of more than 200,000
people, he delivered his famous ``I Have A Dream'' speech, one
of the classic orations in American history;
(4) Dr. Martin Luther King, Jr. was a champion of
nonviolence, fervently advocated nonviolent resistance as the
strategy to end segregation and racial discrimination in
America, and was awarded the 1964 Nobel Peace Prize in
recognition of his efforts;
(5) all Americans should commemorate the legacy of Dr.
Martin Luther King, Jr. so ``that one day this Nation will rise
up and live out the true meaning of its creed: `We hold these
truths to be self-evident; that all men are created equal.''';
and
(6) efforts are underway to secure the personal papers of
Dr. Martin Luther King, Jr., for the Library of Congress so
that they may be preserved and studied for generations to come.
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 not
more than 500,000 $1 coins, each of 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.
SEC. 4. SOURCES OF BULLION.
The Secretary shall obtain silver for minting coins under this Act
from all available sources, including stockpiles established under the
Strategic and Critical Materials Stock Piling Act.
SEC. 5. DESIGN OF COINS.
(a) Design Requirements.--
(1) In general.--The design of the coins minted under this
Act shall be emblematic of the human rights legacy and
leadership of Dr. Martin Luther King, Jr.
(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 ``2003''; 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
Librarian of Congress, the Commission of Fine Arts, and the
estate of Dr. Martin Luther King, Jr.; and
(2) reviewed by the Citizens Commemorative Coin Advisory
Committee.
SEC. 6. 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) Period for Issuance.--The Secretary may issue coins minted
under this Act only during the 1-year period beginning on January 1,
2003.
SEC. 7. 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 subsection (c) 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) Surcharges.--All sales of coins issued under this Act shall
include a surcharge of $10 per coin.
SEC. 8. DISTRIBUTION OF SURCHARGES.
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 Act shall be promptly paid by the Secretary to the Library
of Congress for the purposes of purchasing and maintaining historical
documents and other materials associated with the life and legacy of
Dr. Martin Luther King, Jr.
<all>
Introduced in Senate
Sponsor introductory remarks on measure. (CR S10252-10253)
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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