[108th Congress Public Law 291]
[From the U.S. Government Printing Office]
[DOCID: f:publ291.108]
[[Page 1023]]
MARINE CORPS 230TH ANNIVERSARY COMMEMORATIVE COIN ACT
[[Page 118 STAT. 1024]]
Public Law 108-291
108th Congress
An Act
To require the Secretary of the Treasury to mint coins in commemoration
of the 230th Anniversary of the United States Marine Corps, and to
support construction of the Marine Corps Heritage Center. <<NOTE: Aug.
6, 2004 - [H.R. 3277]>>
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled, <<NOTE: Marine Corps
230th Anniversary Commemorative Coin Act. 31 USC 5112 note.>>
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Marine Corps 230th Anniversary
Commemorative Coin Act''.
SEC. 2. FINDINGS.
The Congress finds that--
(1) November 10, 2005, marks the 230th anniversary of the
United States Marine Corps;
(2) the United States Marine Corps has, over the course of
its illustrious 230-year history, fought gallantly in defense of
the United States;
(3) the United States Marine Corps has, over the course of
its storied history, established itself as the Nation's military
leader in amphibious warfare, and will continue in that role as
the United States faces the challenges of the 21st Century;
(4) the United States Marine Corps continues to exemplify
the warrior ethos that has made it a fighting force of
international repute;
(5) all Americans should commemorate the legacy of the
United States Marine Corps so that the values embodied in the
``Corps'' are recognized for the significant contribution they
have made in protecting the United States against its enemies;
(6) in 2001, the Congress authorized the construction of the
Marine Corps Heritage Center, the purpose of which is to provide
a multipurpose facility to be used for historical displays for
the public viewing, curation, and storage of artifacts, research
facilities, classrooms, offices, and associated activities,
consistent with the mission of the Marine Corps;
(7) the Marine Corps Heritage Center is scheduled to open on
November 10, 2005;
(8) the United States should pay tribute to the 230th
anniversary of the United States Marine Corps by minting and
issuing a commemorative silver dollar coin; and
(9) the surcharge proceeds from the sale of a commemorative
coin, which would have no net costs to the taxpayers, would
raise valuable funding for the construction of the Marine Corps
Heritage Center.
[[Page 118 STAT. 1025]]
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. DESIGN OF COINS.
(a) Design Requirements.--
(1) In general.--The design of the coins minted under this
Act shall be emblematic of the warrior ethos of the United
States Marine Corps.
(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 ``2005''; 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
Marine Corps Historical Division and the Commission of 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) 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, 2005.
SEC. 6. 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 (b) 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 coins issued
under this Act at a reasonable discount.
(d) Prepaid Orders.--
(1) In general.--The Secretary shall accept prepaid orders
for coins minted under this Act before the issuance of such
coins.
[[Page 118 STAT. 1026]]
(2) Discount.--Sale prices with respect to prepaid orders
under paragraph (1) should be at a reasonable discount.
(e) Limitation.--Notwithstanding subsection (b), 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 (as in effect on the date of the enactment of this Act). The
Secretary of the Treasury may issue guidance to carry out this
subsection.
SEC. 7. DISTRIBUTION OF SURCHARGES.
(a) 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 promptly paid by the Secretary to
the Marine Corps Heritage Foundation for the purposes of construction of
the Marine Corps Heritage Center, as authorized by section 1 of Public
Law 106-398 (114 Stat. 1654).
(b) Audit.--The Marine Corps Heritage 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 (a).
Approved August 6, 2004.
LEGISLATIVE HISTORY--H.R. 3277:
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HOUSE REPORTS: No. 108-474, Pt. 1 (Comm. on Financial Services) and Pt.
2 (Comm. on Ways and Means).
CONGRESSIONAL RECORD,
Vol. 150 (2004):
July 14, considered and passed House.
July 20, considered and passed Senate.
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