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108th CONGRESS
1st Session
S. 1379
To require the Secretary of the Treasury to mint coins in commemoration
of veterans who became disabled for life while serving in the Armed
Forces of the United States.
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IN THE SENATE OF THE UNITED STATES
July 9, 2003
Mr. Johnson introduced the following bill; which was read twice and
referred to the Committee on Banking, Housing, and Urban Affairs
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A BILL
To require the Secretary of the Treasury to mint coins in commemoration
of veterans who became disabled for life while serving in the Armed
Forces of 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 ``American Veterans Disabled for Life
Commemorative Coin Act''.
SEC. 2. FINDINGS.
Congress finds that--
(1) the armed forces of the United States have answered the
call and served with distinction around the world--from hitting
the beaches in World War II in the Pacific and Europe, to the
cold and difficult terrain in Korea, the steamy jungles of
Vietnam, and the desert sands of the Middle East;
(2) all Americans should commemorate those who come home
having survived the ordeal of war, and solemnly honor those who
made the ultimate sacrifice in giving their lives for their
country;
(3) all Americans should honor the millions of living
disabled veterans who carry the scars of war every day, and who
have made enormous personal sacrifices defending the principles
of our democracy;
(4) in 2000, Congress authorized the construction of the
American Veterans Disabled for Life Memorial;
(5) the United States should pay tribute to the Nation's
living disabled veterans by minting and issuing a commemorative
silver dollar coin; and
(6) the surcharge proceeds from the sale of a commemorative
coin would raise valuable funding for the construction of the
American Veterans Disabled for Life Memorial.
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 in commemoration of disabled American
veterans, 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.
(c) Numismatic Items.--For purposes of section 5134 of title 31,
United States Code, all coins minted under this Act shall be considered
to be numismatic items.
SEC. 4. SOURCES OF BULLION.
The Secretary shall obtain silver for minting coins under this Act
only from 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 design selected by the Disabled
Veterans' LIFE Memorial Foundation for the American Veterans
Disabled for Life Memorial.
(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 ``2006''; 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
Disabled Veterans' LIFE Memorial Foundation and the Commission
of Fine Arts; and
(2) reviewed by the Citizens Coinage 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 under this
Act only during the calendar year beginning on January 1, 2006.
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 (d) 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) Surcharges.--All sales of coins issued under this Act shall
include a surcharge of $10 per coin.
(c) Bulk Sales.--The Secretary shall make bulk sales of the coins
issued under this Act at a reasonable discount.
(d) Prepaid Orders.--
(1) In general.--The Secretary shall accept prepaid orders
for the coins minted under this Act before the issuance of such
coins.
(2) Discount.--Sale prices with respect to prepaid orders
under paragraph (1) shall be at a reasonable discount.
SEC. 8. DISTRIBUTION OF SURCHARGES.
(a) In General.--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 paid to the Disabled Veterans'
LIFE Memorial Foundation for the purpose of establishing an endowment
to support the construction of American Veterans' Disabled for Life
Memorial in Washington, D.C.
(b) Audits.--The Comptroller General of the United States shall
have the right to examine such books, records, documents, and other
data of the Disabled Veterans' LIFE Memorial Foundation as may be
related to the expenditures of amounts paid under subsection (a).
SEC. 9. FINANCIAL ASSURANCES.
(a) No Net Cost to the Government.--The Secretary shall take such
actions as may be necessary to ensure that minting and issuing coins
under this Act will not result in any net cost to the United States
Government.
(b) Payment for Coins.--A coin shall not be issued under this Act
unless the Secretary has received--
(1) full payment for the coin;
(2) security satisfactory to the Secretary to indemnify the
United States for full payment; or
(3) a guarantee of full payment satisfactory to the
Secretary from a depository institution whose deposits are
insured by the Federal Deposit Insurance Corporation or the
National Credit Union Administration Board.
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