[House Report 108-20]
[From the U.S. Government Publishing Office]
108th Congress Report
HOUSE OF REPRESENTATIVES
1st Session 108-20
======================================================================
AMERICAN 5-CENT COIN DESIGN CONTINUITY ACT OF 2003
_______
February 26, 2003.--Committed to the Committee of the Whole House on
the State of the Union and ordered to be printed
_______
Mr. Oxley, from the Committee on Financial Services, submitted the
following
R E P O R T
[To accompany H.R. 258]
[Including cost estimate of the Congressional Budget Office]
The Committee on Financial Services, to whom was referred the
bill (H.R. 258) to ensure continuity for the design of the 5-
cent coin, establish the Citizens Coinage Advisory Committee,
and for other purposes, having considered the same, report
favorably thereon with an amendment and recommend that the bill
as amended do pass.
CONTENTS
Page
Amendment........................................................ 1
Purpose and Summary.............................................. 5
Background and Need for Legislation.............................. 6
Hearings......................................................... 6
Committee Consideration.......................................... 6
Committee Votes.................................................. 6
Committee Oversight Findings..................................... 7
Performance Goals and Objectives................................. 7
New Budget Authority, Entitlement Authority, and Tax Expenditures 7
Committee Cost Estimate.......................................... 7
Congressional Budget Office Cost Estimate........................ 7
Federal Mandates Statement....................................... 9
Constitutional Authority Statement............................... 9
Applicability to Legislative Branch.............................. 10
Section-by-Section Analysis...................................... 10
Amendment
The amendment is as follows:
Strike all after the enacting clause and insert the
following:
SECTION 1. SHORT TITLE.
This Act may be cited as the ``American 5-Cent Coin Design Continuity
Act of 2003''.
TITLE I--U.S. 5-CENT COIN DESIGN CONTINUITY
SEC. 101. DESIGNS ON THE 5-CENT COIN.
(a) In General.--Subject to subsection (b) and after consulting with
the Citizens Coinage Advisory Committee and the Commission of Fine
Arts, the Secretary of the Treasury may change the design on the
obverse and the reverse of the 5-cent coin for coins issued in 2003,
2004, and 2005 in recognition of the bicentennial of the Louisiana
Purchase and the expedition of Meriwether Lewis and William Clark.
(b) Design Specifications.--
(1) Obverse.--If the Secretary of the Treasury elects to
change the obverse of 5-cent coins issued during 2003, 2004,
and 2005, the design shall depict a likeness of President
Thomas Jefferson, different from the likeness that appeared on
the obverse of the 5-cent coins issued during 2002, in
recognition of his role with respect to the Louisiana Purchase
and the commissioning of the Lewis and Clark expedition.
(2) Reverse.--If the Secretary of the Treasury elects to
change the reverse of the 5-cent coins issued during 2003,
2004, and 2005, the design selected shall depict images that
are emblematic of the Louisiana Purchase or the expedition of
Meriwether Lewis and William Clark.
(3) Other inscriptions.--5-cent coins issued during 2003,
2004, and 2005 shall continue to meet all other requirements
for inscriptions and designations applicable to circulating
coins under section 5112(d)(1) of title 31, United States Code.
SEC. 102. DESIGNS ON THE 5-CENT COIN SUBSEQUENT TO THE RECOGNITION OF
THE BICENTENNIAL OF THE LOUISIANA PURCHASE AND THE
LEWIS AND CLARK EXPEDITION.
(a) In General.--Section 5112(d)(1) of title 31, United States Code,
is amended by inserting after the 4th sentence the following new
sentence: ``Subject to other provisions of this subsection, the obverse
of any 5-cent coin issued after December 31, 2005, shall bear the
likeness of Thomas Jefferson and the reverse of any such 5-cent coin
shall bear an image of the home of Thomas Jefferson at Monticello.''.
(b) Design Consultation.--The 2d sentence of section 5112(d)(2) of
title 31, United States Code, is amended by inserting ``, after
consulting with the Citizens Coinage Advisory Committee and the
Commission of Fine Arts,'' after ``The Secretary may''.
SEC. 103. CITIZENS COINAGE ADVISORY COMMITTEE.
(a) In General.--Section 5135 of title 31, United States Code, is
amended to read as follows:
``Sec. 5135. Citizens Coinage Advisory Committee
``(a) Establishment.--
``(1) In general.--There is hereby established the Citizens
Coinage Advisory Committee (in this section referred to as the
`Advisory Committee') to advise the Secretary of the Treasury
on the selection of themes and designs for coins.
``(2) Oversight of advisory committee.--The Advisory
Committee shall be subject to the authority of the Secretary of
the Treasury (hereafter in this section referred to as the
`Secretary').
``(b) Membership.--
``(1) Appointment.--The Advisory Committee shall consist of
11 members appointed by the Secretary as follows:
``(A) 7 persons appointed by the Secretary--
``(i) 1 of whom shall be appointed from among
individuals who are specially qualified to
serve on the Advisory Committee by virtue of
their education, training, or experience as a
nationally or internationally recognized
curator in the United States of a numismatic
collection;
``(ii) 1 of whom shall be appointed from
among individuals who are specially qualified
to serve on the Advisory Committee by virtue of
their experience in the medallic arts or
sculpture;
``(iii) 1 of whom shall be appointed from
among individuals who are specially qualified
to serve on the Advisory Committee by virtue of
their education, training, or experience in
American history;
``(iv) 1 of whom shall be appointed from
among individuals who are specially qualified
to serve on the Advisory Committee by virtue of
their education, training, or experience in
numismatics; and
``(v) 3 of whom shall be appointed from among
individuals who can represent the interests of
the general public in the coinage of the United
States.
``(B) 4 persons appointed by the Secretary on the
basis of the recommendations of the following officials
who shall make the selection for such recommendation
from among citizens who are specially qualified to
serve on the Advisory Committee by virtue of their
education, training, or experience:
``(i) 1 person recommended by the Speaker of
the House of Representatives.
``(ii) 1 person recommended by the minority
leader of the House of Representatives.
``(iii) 1 person recommended by the majority
leader of the Senate.
``(iv) 1 person recommended by the minority
leader of the Senate.
``(2) Terms.--
``(A) In general.--Except as provided in subparagraph
(B), members of the Advisory Committee shall be
appointed for a term of 4 years.
``(B) Terms of initial appointees.--As designated by
the Secretary at the time of appointment, of the
members first appointed--
``(i) 4 of the members appointed under
paragraph (1)(A) shall be appointed for a term
of 4 years;
``(ii) the 4 members appointed under
paragraph (1)(B) shall be appointed for a term
of 3 years; and
``(ii) 3 of the members appointed under
paragraph (1)(A) shall be appointed for a term
of 2 years.
``(3) Preservation of public advisory status.--No individual
may be appointed to the Advisory Committee while serving as an
officer or employee of the Federal Government.
``(4) Continuation of service.--Each appointed member may
continue to serve for up to 6 months after the expiration of
the term of office to which such member was appointed until a
successor has been appointed.
``(5) Vacancy and removal.--
``(A) In general.--Any vacancy on the Advisory
Committee shall be filled in the manner in which the
original appointment was made.
``(B) Removal.--Advisory Committee members shall
serve at the discretion of the Secretary and may be
removed at any time for good cause.
``(6) Chairperson.--The Chairperson of the Advisory Committee
shall be appointed for a term of 1 year by the Secretary from
among the members of the Advisory Committee.
``(7) Pay and expenses.--Members of the Advisory Committee
shall serve without pay for such service but each member of the
Advisory Committee shall be reimbursed from the United States
Mint Public Enterprise Fund for travel, lodging, meals, and
incidental expenses incurred in connection with attendance of
such members at meetings of the Advisory Committee in the same
amounts and under the same conditions as employees of the
United States Mint who engage in official travel, as determined
by the Secretary.
``(8) Meetings.--
``(A) In general.--The Advisory Committee shall meet
at the call of the Secretary, the chairperson, or a
majority of the members, but not less frequently than
twice annually.
``(B) Open meetings.--Each meeting of the Advisory
Committee shall be open to the public.
``(C) Prior notice of meetings.--Timely notice of
each meeting of the Advisory Committee shall be
published in the Federal Register, and timely notice of
each meeting shall be made to trade publications and
publications of general circulation.
``(9) Quorum.--7 members of the Advisory Committee shall
constitute a quorum.
``(c) Duties of the Advisory Committee.--The duties of the Advisory
Committee are as follows:
``(1) Advising the Secretary of the Treasury on any theme or
design proposals relating to circulating coinage, bullion
coinage, congressional gold medals and national and other
medals produced by the Secretary of the Treasury in accordance
with section 5111 of title 31, United States Code.
``(2) Advising the Secretary of the Treasury with regard to--
``(A) the events, persons, or places that the
Advisory Committee recommends be commemorated by the
issuance of commemorative coins in each of the 5
calendar years succeeding the year in which a
commemorative coin designation is made;
``(B) the mintage level for any commemorative coin
recommended under subparagraph (A); and
``(C) the proposed designs for commemorative coins.
``(d) Expenses.--The expenses of the Advisory Committee that the
Secretary of the Treasury determines to be reasonable and appropriate
shall be paid by the Secretary from the United States Mint Public
Enterprise Fund.
``(e) Administrative Support and Technical Services.--Upon the
request of the Advisory Committee, or as necessary for the Advisory
Committee to carry out the responsibilities of the Advisory Committee
under this section, the Director of the United States Mint shall
provide to the Advisory Committee the administrative support, technical
services, and advice that the Secretary of the Treasury determines to
be reasonable and appropriate.
``(f) Consultation Authority.--In carrying out the duties of the
Advisory Committee under this section, the Advisory Committee may
consult with the Commission of Fine Arts.
``(g) Annual Report.--
``(1) Required.--Not later than September 30 of each year,
the Advisory Committee shall submit a report to the Secretary,
the Committee on Financial Services of the House of
Representatives and the Committee on Banking, Housing, and
Urban Affairs of the Senate. Should circumstances arise in
which the Advisory Committee cannot meet the September 30
deadline in any year, the Secretary shall advise the
Chairpersons of the Committee on Financial Services of the
House of Representatives and the Committee on Banking, Housing,
and Urban Affairs of the Senate of the reasons for such delay
and the date on which the submission of the report is
anticipated.
``(2) Contents.--The report required by paragraph (1) shall
describe the activities of the Advisory Committee during the
preceding year and the reports and recommendations made by the
Advisory Committee to the Secretary of the Treasury.
``(h) Federal Advisory Committee Act Does Not Apply.--Subject to the
requirements of subsection (b)(8), the Federal Advisory Committee Act
shall not apply with respect to the Committee.''.
(b) Abolishment of Citizens Commemorative Coin Advisory Committee.--
Effective on the date of the enactment of this Act, the Citizens
Commemorative Coin Advisory Committee (established by section 5135 of
title 31, United States Code, as in effect before the amendment made by
subsection (a)) is hereby abolished.
(c) Continuity of Members of Citizens Commemorative Coin Advisory
Committee.--Subject to paragraphs (1) and (2) of section 5135(b) of
title 31, United States Code, any person who is a member of the
Citizens Commemorative Coin Advisory Committee on the date of the
enactment of this Act, other than the member of such committee who is
appointed from among the officers or employees of the United States
Mint, may continue to serve the remainder of the term to which such
member was appointed as a member of the Citizens Coinage Advisory
Committee in one of the positions as determined by the Secretary.
(d) Technical and Conforming Amendments.--
(1) Section 5112(l)(4)(A)(ii) of title 31, United States
Code, is amended by striking ``Citizens Commemorative Coin
Advisory Committee'' and inserting ``Citizens Coinage Advisory
Committee''.
(2) Section 5134(c) of title 31, United States Code, is
amended--
(A) by striking paragraph (4); and
(B) by redesignating paragraph (5) as paragraph (4).
TITLE II--TECHNICAL AND CLARIFYING PROVISIONS
SEC. 201. CLARIFICATION OF EXISTING LAW.
(a) In General.--Section 5134(f)(1) of title 31, United States Code,
is amended to read as follows:
``(1) Payment of surcharges.--
``(A) In general.--Notwithstanding any other
provision of law, no amount derived from the proceeds
of any surcharge imposed on the sale of any numismatic
item shall be paid from the fund to any designated
recipient organization unless--
``(i) all numismatic operation and program
costs allocable to the program under which such
numismatic item is produced and sold have been
recovered; and
``(ii) the designated recipient organization
submits an audited financial statement that
demonstrates, to the satisfaction of the
Secretary, the amount of funds the organization
has raised from private sources for all
projects or purposes for which the proceeds of
such surcharge may be used.
``(B) Matching fund requirement.--Notwithstanding any
other provision of law, the amount derived from the
proceeds of any surcharge imposed on the sale of any
numismatic item that may otherwise be paid from the
fund, under any provision of law relating to such
numismatic item, to any designated recipient
organization shall not exceed the amount the
organization has demonstrated, in accordance with
subparagraph (A)(ii), that the organization has raised
from private sources for all projects or purposes for
which the proceeds of such surcharge may be used.
``(C) Unpaid amounts.--If any amount derived from the
proceeds of any surcharge imposed on the sale of any
numismatic item that may otherwise be paid from the
fund, under any provision of law relating to such
numismatic item, to any designated recipient
organization remains unpaid to such organization solely
by reason of the matching fund requirement contained in
subparagraph (B) after the end of the 2-year period
beginning on the later of--
``(i) the last day any such numismatic item
is issued by the Secretary; or
``(ii) the date of the enactment of the
American 5-Cent Coin Design Continuity Act of
2003,
such unpaid amount shall be deposited in the Treasury
as miscellaneous receipts.''.
(b) Effective Date.--The amendment made by subsection (a) shall apply
as of the date of the enactment of Public Law 104-208.
Purpose and Summary
H.R. 258, the ``American 5-Cent Coin Design Continuity Act
of 2003'' authorizes the Secretary of the Treasury (Secretary)
to change the obverse and reverse designs of the circulating 5-
cent coin in each year 2003 through 2006, with the last coin
becoming the new design for the circulating coin. The
legislation provides that, if changed, each obverse must be of
Thomas Jefferson, though all may be different; that the coin
reverses designs for 2003, 2004 and 2005, if changed, must
represent themes related to the Louisiana Purchase or the Lewis
and Clark voyage of discovery; and that the 2006 reverse design
must be of Jefferson's home, Monticello, though not necessarily
the same as that currently on the circulating five-cent coin.
The bill further eliminates the Citizens Commemorative Coin
Advisory Committee and establishes a Citizens Coinage Advisory
Committee, independent of the United States Mint, to advise the
Secretary on design proposals for circulating, bullion and
commemorative coins and for medals produced by the United
States Mint. Finally, the bill clarifies original Congressional
intent to specify that organizations that are designated the
recipient of surcharge proceeds from the sale of
Congressionally authorized commemorative coins must raise from
private sources an amount equal to or greater than the amount
of surcharge funds realized by the sale of coins, and
establishes a method of disposing of unclaimed surcharge funds.
Background and Need for Legislation
Current Federal law allows the Secretary to make only a
single change to the design of a circulating coin within 25
years of its issue. Thus, specific legislative authority is
required for the Mint's proposal to strike a 4-year, 4-coin set
of circulating 5-cent coins--along the lines of the 50-State
quarters--to recognize the importance of the Lewis and Clark
voyage and of the Louisiana Purchase. The Coinage Advisory
Committee is intended to provide the Treasury Secretary, who
ultimately makes the decision on coin designs, with a ``second
opinion'' on coin and medal designs proposed by the Mint. The
committee is designed with citizen ``generalist'' members,
specialists in aspects of coin design, and citizen nominees
from both Houses of Congress to ensure broad-based input on
both design aspects and the political implications of proposed
designs or design changes. The legislation specifies that the
Mint may offer technical advice, and must provide the committee
with all appropriate information as well as resources for the
committee to function.
Finally, the legislation clarifies the original
Congressional intent of the Commemorative Coin Authorization
and Reform Act of 1995 (enacted as part of H.R. 3610, the
Department of Defense Appropriations Act of 1997, Public Law
No. 104-208) on the distribution of coin surcharges from
commemorative coin sales. During House debate on the original
bill (H.R. 2614), the author indicated that the funds raised
from outside sources must match the actual amount of surcharges
raised, not necessarily the potential amount that could have
been raised if all coins authorized had been sold:
The maximum surcharge disbursement to a recipient
organization is limited to the amount received from
separate fund raising by that organization. No longer
will organizations depend exclusively on surcharges for
funding projects. This reform will insure that
beneficiary organizations are not simply created to
receive the proceeds of commemorative coins by requires
that they demonstrate an adequate and independent
measure of public support. (Congressional Record,
December 5, 1995, p. H13947)
Thus, the bill includes a provision to ensure that the
statutory language reflects this intent.
Hearings
No hearings were held on this legislation in the 108th
Congress.
Committee Consideration
The Committee on Financial Services met in open session on
February 13, 2003 and ordered H.R. 258, the American 5-Cent
Coin Continuity Act, reported to the House with an amendment by
a voice vote.
Committee Votes
Clause 3(b) of rule XIII of the Rules of the House of
Representatives requires the Committee to list the record votes
on the motion to report legislation and amendments thereto. No
record votes were taken with in conjunction with the
consideration of this legislation. A motion by Mr. Oxley to
report the bill to the House with a favorable recommendation
was agreed to by a voice vote.
Committee Oversight Findings
Pursuant to clause 3(c)(1) of rule XIII of the Rules of the
House of Representatives, the Committee made findings that are
reflected in this report.
Performance Goals and Objectives
Pursuant to clause 3(c)(4) of rule XIII of the Rules of the
House of Representatives, the Committee establishes the
following performance related goals and objectives for this
legislation:
The United States Mint will use the authorities contained
in this legislation to demonstrate its ability to successfully
redesign circulating United States coinage, and the public's
appetite for such redesign.
New Budget Authority, Entitlement Authority, and Tax Expenditures
In compliance with clause 3(c)(2) of rule XIII of the Rules
of the House of Representatives, the Committee adopts as its
own the estimate of budget authority, entitlement authority, or
tax expenditures or revenues contained in the cost estimate
prepared by the Director of the Congressional Budget Office
pursuant to section 402 of the Congressional Budget Act of
1974.
Committee Cost Estimate
The Committee adopts as its own the cost estimate prepared
by the Director of the Congressional Budget Office pursuant to
section 402 of the Congressional Budget Act of 1974.
Congressional Budget Office Estimate
Pursuant to clause 3(c)(3) of rule XIII of the Rules of the
House of Representatives, the following is the cost estimate
provided by the Congressional Budget Office pursuant to section
402 of the Congressional Budget Act of 1974:
U.S. Congress,
Congressional Budget Office,
Washington, DC, February 25, 2003.
Hon. Michael G. Oxley,
Chairman, Committee on Financial Services,
House of Representatives, Washington, DC.
Dear Mr. Chairman: The Congressional Budget Office has
prepared the enclosed cost estimate for H.R. 258, the American
5-Cent Coin Design Continuity Act of 2003.
If you wish further details on this estimate, we will be
pleased to provide them. The CBO staff contact is Matthew
Pickford.
Sincerely,
Douglas Holtz-Eakin,
Director.
Enclosure.
H.R. 258--American 5-Cent Coin Design Continuity Act of 2003
Summary: H.R. 258 would authorize the U.S. Mint to
temporarily make changes to the design of the 5-cent coin to be
issued in 2003, 2004, and 2005 to commemorate the 1803
Louisiana Purchase or the Lewis and Clark expedition. CBO
estimates that enacting this bill would decrease direct
spending by $2 million over the 2003-2007 period because the
new design would generate increased sales of mint coin sets.
H.R. 258 contains no intergovernmental or private-sector
mandates as defined in the Unfunded Mandates Reform Act (UMRA)
and would not affect the budgets of state, local, or tribal
governments.
Estimated cost to the Federal Government: The estimated
budgetary impact of H.R. 258 is shown in the following table.
The effects of this legislation fall within budget function 800
(general government).
----------------------------------------------------------------------------------------------------------------
By fiscal year, in millions of dollars--
-----------------------------------------------------
2003 2004 2005 2006 2007 2008
----------------------------------------------------------------------------------------------------------------
CHANGES IN DIRECT SPENDING
Estimated Budget Authority................................ 0 -1 -1 (\1\) 0 0
Estimated Outlays......................................... 0 -1 -1 (\1\) 0 0
----------------------------------------------------------------------------------------------------------------
Note.--\1\ =less than -$500,000.
In addition to the budgetary effects summarized in the
table, by increasing the public's holding of coins, H.R. 258
also would provide the government with additional resources for
financing the federal deficit. The seigniorage (or profit) from
placing the additional coins in circulation--the difference
between the face value of the coins and the cost of
production--would reduce the amount the government needs to
borrow from the public. CBO estimates that seignoirage
resulting from the bill would amount to about $15 million
annually for a two-year period. Under the principles
established by the President's 1967 Commission on Budget
Concepts, seigniorage does not directly affect the budget but
is treated as a means of financing the deficit.
Basis of estimate
Direct spending
H.R. 258 would authorize the U.S. Mint to temporarily
change the design of the current 5-cent coin over the 2003-2005
period. According to the Mint, it would take approximately 6
months to design, test, and produce a new 5-cent coin for
circulation. Thus, assuming this bill is enacted late in fiscal
year 2003, CBO expects that the new coin would begin
circulating around the middle of fiscal year 2004. CBO
estimates that designing and preparing dies for a new 5-cent
coin would cost less than $100,000 in 2004.
CBO assumes the Mint would sell 5-coin and 10-coin proof
and silver sets of the redesigned 5-cent coin. Based on
information provided by the Mint and historical sales and
profit information for the 50 States Circulating Commemorative
Quarter Program, CBO estimates that sales of the 5-cent coin in
various mint sets would increase offsetting collections to the
Mint by about $4 million over the 2003-2007 period.
Based on the cost of previous mint set issues, CBO
estimates that the Mint would retain and spend about one-half
of the $4 million in increased offsetting collections to cover
the costs of producing the coins. The Mint must transfer any
excess funds it generates from mint set sales to the general
fund of the Treasury. Net receipts to the Treasury, therefore,
would total about $2 million.
Seigniorage
Based on the experience of the 50 States Commemorative
Quarter Program, CBO expects that enacting the bill would cause
the Mint to double the production of nickels because many
individuals retain and collect the new coins. The seigniorage,
or profit, from placing additional coins in circulation would
reduce the amount the government borrows from the public.
Nickel production has averaged approximately 1.5 billion a year
over the past decade, and the seigniorage is about 1 cent per
coin. CBO expects that nickel production would double to 3
billion coins for two years, so seigniorage earned by the
federal government would increase by about $30 million over the
2004-2006 period.
Intergovernmental and private-sector impact: H.R. 258
contains no intergovernmental or private-sector mandates as
defined in UMRA and would not affect the budgets of state,
local, or tribal governments.
Estimate prepared by: Federal costs: Matthew Pickford;
impact on State, local, and tribal governments: Theresa Gullo;
impact on the private sector: Paige Piper/Bach.
Estimate approved by: Robert A. Sunshine, Assistant
Director for Budget Analysis.
Federal Mandates Statement
The Committee adopts as its own the estimate of Federal
mandates prepared by the Director of the Congressional Budget
Office pursuant to section 423 of the Unfunded Mandates Reform
Act.
Advisory Committee Statement
Section 103 of the bill amends section 5135 of title 31,
United States Code, to abolish the Citizens Commemorative Coin
Advisory Committee and establishes the Citizens Coinage
Advisory Committee to advise the Secretary of the Treasury on
any theme or design proposals relating to circulating coinage,
bullion coinage, Congressional gold medals and National and
other medals produced by the Secretary in accordance with
section 5111 of title 31, United States Code and on any other
proposals or issues relating to any items produced or sold by
the United States Mint that the Secretary may request of the
Advisory Committee. Pursuant to the requirements of subsection
5(b) of the Federal Advisory Committee Act, the Committee finds
that the functions of the proposed advisory committee is not
and cannot be performed by an existing Federal agency or
advisory commission or by enlarging the mandate of an existing
advisory committee.
Constitutional Authority Statement
Pursuant to clause 3(d)(1) of rule XIII of the Rules of the
House of Representatives, the Committee finds that the
Constitutional Authority of Congress to enact this legislation
is provided by Article 1, section 8, clause 3 (relating to the
power to regulate interstate and foreign commerce) and clause 5
(relating to the coining of money).
Applicability to Legislative Branch
The Committee finds that the legislation does not relate to
the terms and conditions of employment or access to public
services or accommodations within the meaning of section
102(b)(3) of the Congressional Accountability Act.
Section-by-Section Analysis of the Legislation
Section 1. Short title
This section establishes the short title of the bill, the
``American 5-Cent Coin Design Continuity Act of 2003''.
TITLE I--U.S. 5-CENT COIN DESIGN CONTINUITY
Section 101. Designs on the 5-cent coin
This section authorizes the Secretary of the Treasury to
change the obverse and reverse designs of the circulating 5-
cent coin in 2003, 2004, and 2005 to recognize the Louisiana
Purchase and the Lewis and Clark voyage of discovery. All
obverses must bear the likeness of President Thomas Jefferson,
though all may be different. All reverses must display images
emblematic of the Louisiana Purchase or the Lewis and Clark
voyage of discovery, though all may be different.
Section 102. Designs on the 5-cent coin subsequent to the recognition
of the bicentennial of the Louisiana Purchase and the Lewis and
Clark Expedition
This section specifies that the design for the circulating
coin in 2006 and succeeding years bear on its obverse the
likeness of President Thomas Jefferson, though it may be
different than the currently used image or any used in the
previous three years, and the image on the reverse must be of
Jefferson's home, Monticello, though it may be different than
the currently used image.
Section 103. Citizens Coinage Advisory Committee
This section amends section 5135 of title 31, United States
Code to eliminate the Citizens Commemorative Coin Advisory
Committee and establish the Citizens Coinage Advisory
Committee, an advisory committee independent of the U.S. Mint
to advise the Secretary on design proposals for coins and
medals produced by the Mint.
The provision requires that the rotating membership must
include individuals with expertise in numismatics, medallic
arts or sculpture, American history, and other similar areas of
expertise. It further requires that the Committee hold open
meetings, that technical and other resources be provided the
committee by the Mint, and specifies other aspects of its
functions. Finally, it specifies that members of the Citizens
Commemorative Coin Advisory Committee are eligible for
appointment to the Citizens Coinage Advisory Committee so long
as they meet the other criteria outlined in this section.
title ii--technical and clarifying provisions
Section 201. Clarification of existing law
This section clarifies that Congressional intent in
reforming the commemorative coin program was that organizations
that are the designated recipients of surcharges realized by
the sale of Congressionally authorized commemorative coins must
raise from private sources funds that match the amount of
surcharges actually raised, not the amount that could have been
raised if all the coins authorized had actually been sold.
Changes in Existing Law Made by the Bill, as Reported
In compliance with clause 3(e) of rule XIII of the Rules of
the House of Representatives, changes in existing law made by
the bill, as reported, are shown as follows (existing law
proposed to be omitted is enclosed in black brackets, new
matter is printed in italic, existing law in which no change is
proposed is shown in roman):
CHAPTER 51 OF TITLE 31, UNITED STATES CODE
CHAPTER 51--COINS AND CURRENCY
* * * * * * *
SUBCHAPTER II--GENERAL AUTHORITY
* * * * * * *
Sec. 5112. Denominations, specifications, and design of coins
(a) * * *
* * * * * * *
(d)(1) United States coins shall have the inscription ``In
God We Trust''. The obverse side of each coin shall have the
inscription ``Liberty''. The reverse side of each coin shall
have the inscriptions ``United States of America'' and ``E
Pluribus Unum'' and a designation of the value of the coin. The
design on the reverse side of the dollar, half dollar, and
quarter dollar is an eagle. Subject to other provisions of this
subsection, the obverse of any 5-cent coin issued after
December 31, 2005, shall bear the likeness of Thomas Jefferson
and the reverse of any such 5-cent coin shall bear an image of
the home of Thomas Jefferson at Monticello. The Secretary of
the Treasury, in consultation with the Congress, shall select
appropriate designs for the obverse and reverse sides of the
dollar coin. However, to prevent or alleviate a shortage of a
denomination, the Secretary may inscribe coins of the
denomination with the year that was last inscribed on coins of
the denomination.
(2) The Secretary shall prepare the devices, models, hubs,
and dies for coins, emblems, devices, inscriptions, and designs
authorized under this chapter. The Secretary may, after
consulting with the Citizens Coinage Advisory Committee and the
Commission of Fine Arts, adopt and prepare new designs or
models of emblems or devices that are authorized in the same
way as when new coins or devices are authorized. The Secretary
may change the design or die of a coin only once within 25
years of the first adoption of the design, model, hub, or die
for that coin. The Secretary may procure services under section
3109 of title 5 in carrying out this paragraph.
* * * * * * *
(l) Redesign and Issuance of Quarter Dollar in Commemoration
of Each of the 50 States.--
(1) * * *
* * * * * * *
(4) Selection of design.--
(A) In general.--Each of the 50 designs
required under this subsection for quarter
dollars shall be--
(i) * * *
* * * * * * *
(ii) reviewed by the [Citizens
Commemorative Coin Advisory Committee]
Citizens Coinage Advisory Committee.
* * * * * * *
SUBCHAPTER III--UNITED STATES MINT
* * * * * * *
Sec. 5134. Numismatic Public Enterprise Fund
(a) * * *
* * * * * * *
(c) Operations of the Fund.--
(1) * * *
* * * * * * *
[(4) Expenses of citizens commemorative coin advisory
committee.--For purposes of paragraph (1), any expense
incurred by the Secretary in connection with the
Citizens Commemorative Coin Advisory Committee
established under section 5135 shall be treated as an
expense incurred for numismatic operations and programs
which is an ordinary and reasonable incident of the
numismatic business.]
[(5)] (4) Transfer of excess amounts to the
treasury.--
(A) * * *
* * * * * * *
(f) Conditions on Payment of Surcharges to Recipient
Organizations.--
[(1) Payment of surcharges.--Notwithstanding any
other provision of law, no amount derived from the
proceeds of any surcharge imposed on the sale of any
numismatic item shall be paid from the fund to any
designated recipient organization unless--
[(A) all numismatic operation and program
costs allocable to the program under which such
numismatic item is produced and sold have been
recovered; and
[(B) the designated recipient organization
submits an audited financial statement that
demonstrates to the satisfaction of the
Secretary of the Treasury that, with respect to
all projects or purposes for which the proceeds
of such surcharge may be used, the organization
has raised funds from private sources for such
projects and purposes in an amount that is
equal to or greater than the maximum amount the
organization may receive from the proceeds of
such surcharge.]
(1) Payment of surcharges.--
(A) In general.--Notwithstanding any other
provision of law, no amount derived from the
proceeds of any surcharge imposed on the sale
of any numismatic item shall be paid from the
fund to any designated recipient organization
unless--
(i) all numismatic operation and
program costs allocable to the program
under which such numismatic item is
produced and sold have been recovered;
and
(ii) the designated recipient
organization submits an audited
financial statement that demonstrates,
to the satisfaction of the Secretary,
the amount of funds the organization
has raised from private sources for all
projects or purposes for which the
proceeds of such surcharge may be used.
(B) Matching fund requirement.--
Notwithstanding any other provision of law, the
amount derived from the proceeds of any
surcharge imposed on the sale of any numismatic
item that may otherwise be paid from the fund,
under any provision of law relating to such
numismatic item, to any designated recipient
organization shall not exceed the amount the
organization has demonstrated, in accordance
with subparagraph (A)(ii), that the
organization has raised from private sources
for all projects or purposes for which the
proceeds of such surcharge may be used.
(C) Unpaid amounts.--If any amount derived
from the proceeds of any surcharge imposed on
the sale of any numismatic item that may
otherwise be paid from the fund, under any
provision of law relating to such numismatic
item, to any designated recipient organization
remains unpaid to such organization solely by
reason of the matching fund requirement
contained in subparagraph (B) after the end of
the 2-year period beginning on the later of--
(i) the last day any such numismatic
item is issued by the Secretary; or
(ii) the date of the enactment of the
American 5-Cent Coin Design Continuity
Act of 2003,
such unpaid amount shall be deposited in the
Treasury as miscellaneous receipts.
* * * * * * *
[Sec. 5135. Citizens Commemorative Coin Advisory Committee
[(a) Establishment Required.--
[(1) In general.--The Secretary of the Treasury shall
establish a Citizens Commemorative Coin Advisory
Committee (hereafter in this section referred to as the
``Advisory Committee'') to advise the Secretary on the
selection of subjects and designs for commemorative
coins.
[(2) Oversight of advisory committee.--The Advisory
Committee shall be subject to the direction of the
Secretary of the Treasury.
[(3) Membership.--
[(A) Voting members.--The Advisory Committee
shall consist of 7 members appointed by the
Secretary of the Treasury--
[(i) 3 of whom shall be appointed
from among individuals specially
qualified to serve on the committee by
reason of their education, training, or
experience in art, art history, museum
or numismatic collection curation, or
numismatics;
[(ii) 1 of whom shall be appointed
from among officers or employees of the
United States Mint who will represent
the interests of the Mint; and
[(iii) 3 of whom shall be appointed
from among individuals who will
represent the interest of the general
public.
[(B) Nonvoting member.--A member of the
Commission of Fine Arts may participate in the
proceedings of the Advisory Committee as a
nonvoting member.
[(4) Terms.--
[(A) In general.--Each individual appointed
to the Advisory Committee under clause (i) or
(iii) of paragraph (3)(A) shall be appointed
for a term of 4 years.
[(B) Interim appointments.--Any member
appointed to fill a vacancy occurring before
the expiration of the term for which such
member's predecessor was appointed shall be
appointed only for the remainder of such term.
[(C) Continuation of service.--Each member
appointed under clause (i) or (iii) of
paragraph (3)(A) may continue to serve after
the expiration of the term to which such member
was appointed until a successor has been
appointed and qualified.
[(5) Compensation; travel expenses.--
[(A) No compensation.--Members of the
Advisory Committee shall serve without pay.
[(B) Travel expenses.--Members of the
Advisory Committee shall be entitled to receive
travel or transportation expenses, or a per
diem allowance in lieu of expenses, while away
from such member's home or place of business in
connection with such member's service on the
Advisory Committee.
[(6) Funding.--The expenses of the Advisory Committee
which the Secretary of the Treasury determines are
reasonable and appropriate shall be paid by the
Secretary in the manner provided in section 5134.
[(7) Chairperson.--
[(A) In general.--Subject to subparagraph
(B), the Chairperson of the Advisory Committee
shall be elected by the members of the Advisory
Committee from among such members.
[(B) Exception.--The member appointed
pursuant to paragraph (3)(A)(ii) (or the
alternate to that member) may not serve as the
Chairperson of the Advisory Committee,
beginning on June 1, 1999.
[(b) Duties.--
[(1) Preparation of proposals for commemorative coins
for 5-year period.--The Advisory Committee shall--
[(A) designate annually the events, persons,
or places that the Advisory Committee
recommends be commemorated by the issuance of
commemorative coins in each of the 5 calendar
years succeeding the year in which such
designation is made;
[(B) make recommendations with respect to the
mintage level for any commemorative coin
recommended under subparagraph (A); and
[(C) submit a report to the Congress
containing a description of the events,
persons, or places which the Committee
recommends be commemorated by a coin, the
mintage level recommended for any such
commemorative coin, and the committee's reasons
for such recommendations.
[(2) Design selection.--The Advisory Committee shall
review proposed designs for commemorative coins and
provide recommendations to the Secretary of the
Treasury with respect to such proposals.
[(c) Federal Advisory Committee Act Not Applicable.--The
Federal Advisory Committee Act shall not apply to the Advisory
Committee.]
Sec. 5135. Citizens Coinage Advisory Committee
(a) Establishment.--
(1) In general.--There is hereby established the
Citizens Coinage Advisory Committee (in this section
referred to as the ``Advisory Committee'') to advise
the Secretary of the Treasury on the selection of
themes and designs for coins.
(2) Oversight of advisory committee.--The Advisory
Committee shall be subject to the authority of the
Secretary of the Treasury (hereafter in this section
referred to as the ``Secretary'').
(b) Membership.--
(1) Appointment.--The Advisory Committee shall
consist of 11 members appointed by the Secretary as
follows:
(A) 7 persons appointed by the Secretary--
(i) 1 of whom shall be appointed from
among individuals who are specially
qualified to serve on the Advisory
Committee by virtue of their education,
training, or experience as a nationally
or internationally recognized curator
in the United States of a numismatic
collection;
(ii) 1 of whom shall be appointed
from among individuals who are
specially qualified to serve on the
Advisory Committee by virtue of their
experience in the medallic arts or
sculpture;
(iii) 1 of whom shall be appointed
from among individuals who are
specially qualified to serve on the
Advisory Committee by virtue of their
education, training, or experience in
American history;
(iv) 1 of whom shall be appointed
from among individuals who are
specially qualified to serve on the
Advisory Committee by virtue of their
education, training, or experience in
numismatics; and
(v) 3 of whom shall be appointed from
among individuals who can represent the
interests of the general public in the
coinage of the United States.
(B) 4 persons appointed by the Secretary on
the basis of the recommendations of the
following officials who shall make the
selection for such recommendation from among
citizens who are specially qualified to serve
on the Advisory Committee by virtue of their
education, training, or experience:
(i) 1 person recommended by the
Speaker of the House of
Representatives.
(ii) 1 person recommended by the
minority leader of the House of
Representatives.
(iii) 1 person recommended by the
majority leader of the Senate.
(iv) 1 person recommended by the
minority leader of the Senate.
(2) Terms.--
(A) In general.--Except as provided in
subparagraph (B), members of the Advisory
Committee shall be appointed for a term of 4
years.
(B) Terms of initial appointees.--As
designated by the Secretary at the time of
appointment, of the members first appointed--
(i) 4 of the members appointed under
paragraph (1)(A) shall be appointed for
a term of 4 years;
(ii) the 4 members appointed under
paragraph (1)(B) shall be appointed for
a term of 3 years; and
(ii) 3 of the members appointed under
paragraph (1)(A) shall be appointed for
a term of 2 years.
(3) Preservation of public advisory status.--No
individual may be appointed to the Advisory Committee
while serving as an officer or employee of the Federal
Government.
(4) Continuation of service.--Each appointed member
may continue to serve for up to 6 months after the
expiration of the term of office to which such member
was appointed until a successor has been appointed.
(5) Vacancy and removal.--
(A) In general.--Any vacancy on the Advisory
Committee shall be filled in the manner in
which the original appointment was made.
(B) Removal.--Advisory Committee members
shall serve at the discretion of the Secretary
and may be removed at any time for good cause.
(6) Chairperson.--The Chairperson of the Advisory
Committee shall be appointed for a term of 1 year by
the Secretary from among the members of the Advisory
Committee.
(7) Pay and expenses.--Members of the Advisory
Committee shall serve without pay for such service but
each member of the Advisory Committee shall be
reimbursed from the United States Mint Public
Enterprise Fund for travel, lodging, meals, and
incidental expenses incurred in connection with
attendance of such members at meetings of the Advisory
Committee in the same amounts and under the same
conditions as employees of the United States Mint who
engage in official travel, as determined by the
Secretary.
(8) Meetings.--
(A) In general.--The Advisory Committee shall
meet at the call of the Secretary, the
chairperson, or a majority of the members, but
not less frequently than twice annually.
(B) Open meetings.--Each meeting of the
Advisory Committee shall be open to the public.
(C) Prior notice of meetings.--Timely notice
of each meeting of the Advisory Committee shall
be published in the Federal Register, and
timely notice of each meeting shall be made to
trade publications and publications of general
circulation.
(9) Quorum.--7 members of the Advisory Committee
shall constitute a quorum.
(c) Duties of the Advisory Committee.--The duties of the
Advisory Committee are as follows:
(1) Advising the Secretary of the Treasury on any
theme or design proposals relating to circulating
coinage, bullion coinage, congressional gold medals and
national and other medals produced by the Secretary of
the Treasury in accordance with section 5111 of title
31, United States Code.
(2) Advising the Secretary of the Treasury with
regard to--
(A) the events, persons, or places that the
Advisory Committee recommends be commemorated
by the issuance of commemorative coins in each
of the 5 calendar years succeeding the year in
which a commemorative coin designation is made;
(B) the mintage level for any commemorative
coin recommended under subparagraph (A); and
(C) the proposed designs for commemorative
coins..
(d) Expenses.--The expenses of the Advisory Committee that
the Secretary of the Treasury determines to be reasonable and
appropriate shall be paid by the Secretary from the United
States Mint Public Enterprise Fund.
(e) Administrative Support and Technical Services.--Upon the
request of the Advisory Committee, or as necessary for the
Advisory Committee to carry out the responsibilities of the
Advisory Committee under this section, the Director of the
United States Mint shall provide to the Advisory Committee the
administrative support, technical services, and advice that the
Secretary of the Treasury determines to be reasonable and
appropriate.
(f) Consultation Authority.--In carrying out the duties of
the Advisory Committee under this section, the Advisory
Committee may consult with the Commission of Fine Arts.
(g) Annual Report.--
(1) Required.--Not later than September 30 of each
year, the Advisory Committee shall submit a report to
the Secretary, the Committee on Financial Services of
the House of Representatives and the Committee on
Banking, Housing, and Urban Affairs of the Senate.
Should circumstances arise in which the Advisory
Committee cannot meet the September 30 deadline in any
year, the Secretary shall advise the Chairpersons of
the Committee on Financial Services of the House of
Representatives and the Committee on Banking, Housing,
and Urban Affairs of the Senate of the reasons for such
delay and the date on which the submission of the
report is anticipated.
(2) Contents.--The report required by paragraph (1)
shall describe the activities of the Advisory Committee
during the preceding year and the reports and
recommendations made by the Advisory Committee to the
Secretary of the Treasury.
(h) Federal Advisory Committee Act Does Not Apply.--Subject
to the requirements of subsection (b)(8), the Federal Advisory
Committee Act shall not apply with respect to the Committee.
* * * * * * *