,i  #aacth ,,congress  #ast ,session    
,h4 ,r4 #cgbi  ,,in ,,the ,,house ,,of  
,,representatives  ,december #ab1       
#bjac,mr4 ,andrews introduced the       
following bill2 which was referred to   
the ,committee on ,financial ,services  
,a ,,bill  ,to require the ,secretary of
 the ,treasury to mint coins in         
commemoration of the #ajjth anniversary 
of the beginning of ,korean immigration 
into the ,united ,states4  #a4 ,short   
title ,this ,act may be cited as the    
,korean ,immigration ,commemorative     
,coin ,act4  #b4 ,findings ,congress    
finds the following3 7#a7 ,january #ac1 
#bjjc1 marked the #ajjth anniversary of 
the first wave of ,korean immigration to
 the ,united ,states4  7#b7 ,at the time
 of that anniversary1 more than #ajj    
,korean ,american communities throughout
 this ,nation commemorated this         
important event4  7#c7 ,according to    
immigration records1 in ,december #aijb1
 #ef men1 #ba women1 and #be children   
left ,korea and sailed across the       

,pacific ,ocean aboard the ,s4,s4       
,gaelic1 landing in ,honolulu1 ,hawaii1 
on ,january #ac1 #aijc4  7#d7 ,these    
early ,korean immigrants worked at sugar
 cane and pineapple fields in ,hawaii4  
7#e7 ,since that first voyage1          
approximately #a1jjj1jjj ,koreans have  
immigrated to the ,united ,states4  7#f7
 ,korean ,americans have served with    
distinction in the ,armed ,forces of the
 ,united ,states with distinction in    
every war and armed conflict from ,world
 ,war ,i through ,operation ,enduring   
,freedom4  7#g7 ,korean ,americans have 
taken root and thrived in the ,united   
,states through strong family ties1     
robust community support1 and countless 
hours of hard work4  7#h7 ,korean       
immigrants have invigorated business1   
church1 and academic communities        
throughout the ,united ,states and      
,korean ,americans have also established
 themselves as important members in the 
medical1 legal1 financial1 and          
governmental professions4  7#i7 ,the    

strategic partnership between the       
,united ,states and ,korea has helped   
undergird peace and stability in the    
,asia ,pacific region and has provided  
economic benefits not only to the people
 of the ,united ,states and ,korea1 but 
also to the entire world4  #c4 ,coin    
specifications  7a7 ,denominations ,the 
,secretary of the ,treasury 7hereafter  
in this ,act referred to as the         
,secretary7 shall mint and issue the    
following coins3 7#a7 #e ,gold coins    
,not more than #bj1jjj #e coins1 which  
shall-- 7,a7 weigh #h4cei grams2  7,b7  
have diameter of #j4hej inches2 and     
7,c7 contain #ij percent gold and #aj   
percent alloy4  7#b7 #a ,silver coins   
,not more than #aj1jjj #a coins1 which  
shall-- 7,a7 weigh #bf4gc grams2  7,b7  
have a diameter of #a4ejj inches2 and   
7,c7 contain #ij percent silver and #aj 
percent copper4  7b7 ,legal tender ,the 
coins minted under this ,act shall be   
legal tender1 as provided in section    
#eajc of title #ca1 ,united ,states     

,code4  7c7 ,numismatic items ,for      
purposes of section #eacd of title #ca1 
,united ,states ,code1 all coins minted 
under this ,act shall be considered to  
be numismatic items4  #d4 ,design of    
coins  7a7 ,design requirements  7#a7   
,in general ,the design of the coins    
minted under this ,act shall be         
emblematic of the immigration of        
,koreans into the ,united ,states and   
the significant contributions of ,korean
 ,americans to this ,nation4  7#b7      
,designation and inscriptions ,on each  
coin minted under this ,act there shall 
be-- 7,a7 a designation of the value of 
the coin2  7,b7 an inscription of the   
year #bjah2 and  7,c7 inscriptions of   
the words ,liberty1 ,in ,god ,we ,trust1
 ,united ,states of ,america1 and ,e    
,pluribus ,unum4  7b7 ,selection ,the   
design for the coins minted under this  
,act shall be-- 7#a7 selected by the    
,secretary after consultation with the  
,commission of ,fine ,arts2 and  7#b7   
reviewed by the ,citizens ,coinage      

,advisory ,committee4  #e4 ,issuance of 
coins  7a7 ,quality of coins ,coins     
minted under this ,act shall be issued  
in uncirculated and proof qualities4    
7b7 ,period of issuance ,the ,secretary 
may issue coins minted under this ,act  
only during the #a-year period beginning
 on ,january #a1 #bjah4  #f4 ,sale of   
coins  7a7 ,sale price ,the coins issued
 under this ,act shall be sold by the   
,secretary at a price equal to the sum  
of-- 7#a7 the face value of the coins2  
7#b7 the surcharge provided in section  
#g7;a7 with respect to such coins2 and  
7#c7 the cost of designing and issuing  
the coins 7including labor1 materials1  
dies1 use of machinery1 overhead        
expenses1 marketing1 and shipping74  7b7
 ,bulk sales ,the ,secretary shall make 
bulk sales of the coins issued under    
this ,act at a reasonable discount4  7c7
 ,prepaid ,orders  7#a7 ,in general ,the
 ,secretary shall accept prepaid orders 
for the coins minted under this ,act    
before the issuance of such coins4  7#b7

 ,discount ,sale prices with respect to 
prepaid orders under paragraph 7#a7     
shall be at a reasonable discount4  #g4 
,surcharges  7a7 ,in ,general ,all sales
 of coins minted under this ,act shall  
include a surcharge as follows3 7#a7 ,a 
surcharge of #ce per coin for the #e    
coin4  7#b7 ,a surcharge of #aj per coin
 for the #a coin4  7b7 ,distribution    
,subject to section #eacd7;f7 of title  
#ca1 ,united ,states ,code1 all         
surcharges received by the ,secretary   
from the sale of coins issued under this
 ,act shall be promptly paid by the     
,secretary to the ,council on #ajjth    
,year ,korean ,immigration              
,commemorative ,coin ,act to provide    
academic scholarships4  7c7 ,audits ,the
 ,council on #ajjth ,year ,korean       
,immigration ,commemorative ,coin ,act  
shall be subject to the audit           
requirements of section #eacd7;f77#b7 of
 title #ca1 ,united ,states ,code1 with 
regard to the amounts received under    
subsection 7b74  7d7 ,limitation        

,notwithstanding subsection 7a71 no     
surcharge may be included with respect  
to the issuance under this ,act of any  
coin during a calendar year if1 as of   
the time of such issuance1 the issuance 
of such coin would result in the number 
of commemorative coin programs issued   
during such year to exceed the annual   
commemorative coin program issuance     
limitation under section #eaab7m77#a7 of
 title #ca1 ,united ,states ,code4 ,the 
,secretary of the ,treasury may issue   
guidance to carry out this subsection4  
#h4 ,financial assurances ,the          
,secretary shall take such actions as   
may be necessary to ensure that-- 7#a7  
minting and issuing coins under this    
,act will not result in any net cost to 
the ,united ,states ,government2 and    
7#b7 no funds1 including applicable     
surcharges1 are disbursed to any        
recipient designated in section #g until
 the total cost of designing and issuing
 all of the coins authorized by this    
,act 7including labor1 materials1 dies1 

use of machinery1 winning design        
compensation1 overhead expenses1        
marketing1 and shipping7 is recovered by
 the ,united ,states ,treasury1         
consistent with sections #eaab7m7 and   
#eacd7;f7 of title #ca1 ,united ,states 
,code4