[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2808 Introduced in House (IH)]
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118th CONGRESS
1st Session
H. R. 2808
To require the Secretary of the Treasury to mint commemorative coins in
recognition of Arnold Daniel Palmer.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
April 24, 2023
Mr. Reschenthaler introduced the following bill; which was referred to
the Committee on Financial Services
_______________________________________________________________________
A BILL
To require the Secretary of the Treasury to mint commemorative coins in
recognition of Arnold Daniel Palmer.
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 ``Arnold Daniel Palmer Commemorative
Coin Act''.
SEC. 2. FINDINGS.
The Congress finds the following:
(1) On September 10, 1929, Arnold Palmer was born in
Latrobe, Pennsylvania, and graduated from Greater Latrobe High
School in 1947.
(2) In 1948, Arnold Palmer enrolled at Wake Forest College
and was the Tournament medalist at the NCAA Golf Championships
in 1949 and 1950. Following a tragic death suffered by his
close friend and classmate, Buddy Worsham, Arnold Palmer
withdrew from Wake Forest College to pursue a three-year stint
in the U.S. Coast Guard.
(3) In 1951, Arnold Palmer attended United States Coast
Guard recruit training at Cape May, New Jersey. There, he was
assigned the role of physical fitness and self-defense
instructor. He would go on to serve three years in the Coast
Guard as a yeoman for Rear Admiral Roy L. Raney, Commander of
the 9th Coast Guard District Auxiliary in Cleveland, Ohio.
(4) Arnold Palmer credited his successful golf career to
his enlisted service, stating: ``The knowledge that I gained,
the maturity that I gained in the Coast Guard was unbelievable
. . . It matured me. It made me a better person''.
(5) On June 23, 2004, Arnold Palmer was the first golfer to
be awarded the Presidential Medal of Freedom, and on September
12, 2012, Arnold Palmer was presented with the Congressional
Gold Medal in the rotunda of the United States Capitol. He is
the first professional athlete to be awarded both the
Presidential Medal of Freedom and the Congressional Gold Medal.
(6) In his professional golf career, Arnold Palmer won 92
championships in professional competition of national or
international stature, 62 of which were on the Professional
Golf Association Tour. Arnold Palmer received many honors
outside the sporting world, including the Patriot Award of the
Congressional Medal of Honor Society, the Golden Plate Award of
the American Academy of Achievement, and the United States Navy
Memorial Lone Sailor Award. Arnold Palmer served for 20 years
as the honorary national chairman of the March of Dimes Birth
Defects Foundation.
(7) On September 30, 2009, Congress authorized the Arnold
Palmer Bronze Medal and it was presented to him on September
12, 2012.
(8) Arnold Palmer, the son of a country club employee in
Latrobe, Pennsylvania, brought golf to people around the world.
Today, driven by the generosity of ``Arnie's Army'', the Arnold
& Winnie Palmer Foundation carries on a pioneering tradition of
charity, service, and doing right by others.
(9) The Arnold & Winnie Palmer Foundation continues the
Palmers' mission to champion youth health and development. By
continuing their efforts to ensure every child gets the
opportunity to live a life well played--by supporting nature-
focused well-being and character development through golf--the
Palmer Foundation is committed to keeping the Palmer legacy at
the forefront of the global conversation on golf and society at
large.
SEC. 3. COIN SPECIFICATIONS.
(a) Denominations.--The Secretary of the Treasury (hereafter in
this Act referred to as the ``Secretary'') shall mint and issue the
following coins in recognition and celebration of Arnold Palmer:
(1) $5 gold coins.--Not more than 50,000 $5 coins, which
shall--
(A) weigh 8.359 grams;
(B) have a diameter of 0.850 inches; and
(C) contain not less than 90-percent gold.
(2) $1 silver coins.--Not more than 400,000 $1 coins, which
shall--
(A) weigh 26.73 grams;
(B) have a diameter of 1.500 inches; and
(C) contain not less than 90-percent silver.
(3) Half-dollar clad coins.--Not more than 750,000 half-
dollar coins which shall--
(A) weigh 11.34 grams;
(B) have a diameter of 1.205 inches; and
(C) be minted to the specifications for half-dollar
coins contained in section 5112(b) of title 31, United
States Code.
(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 sections 5134 and 5136 of
title 31, United States Code, all coins minted under this Act shall be
considered to be numismatic items.
SEC. 4. DESIGNS OF COINS.
(a) Design Requirements.--
(1) In general.--The designs for the coins minted under
this Act shall be emblematic of Arnold Palmer and his life and
accomplishments. At least one obverse design shall bear the
image of Arnold Palmer.
(2) Designations and inscriptions.--On each coin minted
under this Act, there shall be--
(A) a designation of the denomination of the coin;
(B) an inscription of the year ``2029''; and
(C) inscriptions of the words ``Liberty'', ``In God
We Trust'', ``United States of America'', and ``E
Pluribus Unum''.
(b) Selection.--The designs for the coins minted under this Act
shall be--
(1) selected by the Secretary, after consultation with the
Arnold & Winnie Palmer Foundation and Commission of the Fine
Arts; and
(2) reviewed by the Citizens Coinage 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) Period for Issuance.--The Secretary may issue coins minted
under this Act only during the calendar year beginning on January 1,
2029.
SEC. 6. SALE OF COINS.
(a) Sale Price.--The coins issued under this Act shall be sold by
the Secretary at a price based upon the sum of--
(1) the face value of the coins;
(2) the surcharge provided in section 7(a) 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) 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. 7. SURCHARGES.
(a) In General.--All sales of coins minted under this Act shall
include a surcharge as follows:
(1) A surcharge of $35 per coin for the $5 coin.
(2) A surcharge of $10 per coin for the $1 coin.
(3) A surcharge of $5 per coin for the half-dollar coin.
(b) Distribution.--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 Arnold & Winnie Palmer
Foundation for application to general expenses associated with the
fulfillment of the mission of the Arnold & Winnie Palmer Foundation,
including costs associated with--
(1) children's health;
(2) character development through the game of golf;
(3) wellness through nature; and
(4) the Palmer legacy in golf and American history.
(c) Audits.--The Arnold & Winnie Palmer 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 under subsection (b).
(d) Limitation.--Notwithstanding subsection (a), no surcharge may
be included with respect to the issuance under this Act of any coin
during a calendar year if, as of the time of such issuance, the
issuance of such coin would result in the number of commemorative coin
programs issued during such year to exceed the annual 2 commemorative
coin program issuance limitation under section 5112(m)(1) of title 31,
United States Code. The Secretary may issue guidance to carry out this
subsection.
SEC. 8. FINANCIAL ASSURANCES.
The Secretary shall take such actions as may be necessary to ensure
that--
(1) minting and issuing coins under this Act result in no
net cost to the Federal Government; and
(2) no funds, including applicable surcharges, are
disbursed to any recipient designated in section 7(b) until to
the total cost of designing and issuing all of the coins
authorized by this Act, including labor, materials, dies, use
of machinery, overhead expenses, marketing, and shipping is
recovered by the United States Treasury, consistent with
sections 5112(m) and 5134(f) of title 31, United States Code.
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