,,ii #aaeth ,,congress #ast ,session ,s4 #aejc ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,june #bi1 #bjag,ms4 ,warren 7for herself1 ,mr4 ,mc,cain1 ,mr4 ,markey1 ,mr4 ,blunt1 ,mr4 ,warner1 ,mr4 ,whitehouse1 ,mr4 ,reed1 ,mr4 ,blumenthal1 ,mrs4 ,feinstein1 ,mr4 ,van ,hollen1 and ,mr4 ,cotton7 introduced the following bill2 which was read twice and referred to the ,committee on ,banking1 ,housing1 and ,urban ,affairs ,a ,,bill ,to require the ,secretary of the ,treasury to mint coins in recognition of the #fjth anniversary of the ,naismith ,memorial ,basketball ,hall of ,fame4 #a4 ,short title ,this ,act may be cited as the ,naismith ,memorial ,basketball ,hall of ,fame ,commemorative ,coin ,act4 #b4 ,findings ,the ,congress finds that-- 7#a7 on ,december #ba1 #ahia1 a young physical education instructor named ,james ,naismith introduced the game of basket ball to his physical education class in ,springfield1 ,massachusetts2 7#b7 in #aiei1 the ,naismith ,memorial ,basketball ,hall of ,fame was founded and dedicated to the creator of basketball1 ,dr4 ,james ,naismith1 in ,springfield1 ,massachusetts1 ,the ,birthplace of ,basketball1 and became the first and only museum to honor the game at all levels around the world2 7#c7 the ,naismith ,memorial ,basketball ,hall of ,fame honors players who have achieved greatness1 exemplary coaches1 referees1 and other major contributors to the sport of basketball2 7#d7 the ,inaugural ,hall of ,fame ,class of #aiei had #ag honorees who were inducted1 including ,dr4 ,james ,naismith1 ,george ,mikan1 ,forrest ,c4 ,allen1 ,angelo ,luisetti1 the ,original ,celtics1 and the ,first ,team2 7#e7 the ,naismith ,memorial ,basketball ,hall of ,fame is recognized throughout the world as the premier institution entrusted with recording and disseminating the history of the game of basketball and recognizing and honoring the achievements of its greatest players1 coaches1 and contributors2 7#f7 the ,naismith ,memorial ,basketball ,hall of ,fame provides an entertaining and enriching experience and is known for its educational outreach programs that celebrate and promote positive core values demonstrated by the hallowed heroes of basketball and its founder2 7#g7 basketball is one of the national treasures of the ,united ,states1 with its fast pace that reflects the freedom of expression and the modern experience of life in the #bast century2 7#h7 since its opening in #aiei1 the ,naismith ,memorial ,basketball ,hall of ,fame is home to the largest collection of basketball memorabilia in the world1 including more than #cj1jjj #c-;dimensional objects1 #hjj1jjj photographs1 and #a1ejj1jjj documents2 7#i7 the ,naismith ,memorial ,basketball ,hall of ,fame welcomes more than #f1jjj1jjj visitors interested in discovering the rich history of the game through its stories1 its personalities1 and its most celebrated moments2 7#aj7 the ,naismith ,memorial ,basketball ,hall of ,fame reaches over #g1jjj1jjj ,americans through its educational programs1 events1 exhibits1 social media1 and its interactive website2 7#aa7 the customized educational programs of the ,naismith ,memorial ,basketball ,hall of ,fame use basketball to teach young students around the world the important lessons on a variety of topics1 including financial literacy1 mathematics1 civil rights1 leadership of character1 women's and men's history1 and geography2 and 7#ab7 the ,naismith ,memorial ,basketball ,hall of ,fame will lead the celebration of #fjth anniversary of basketball and will partner with a select group of constituents1 including the ,national ,basketball ,association1 the ,national ,collegiate ,athletic ,association1 and ,,usa ,basketball in commemorating the game throughout the #bjai-bjbj basketball season4 #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 #ej1jjj #e coins1 which shall-- 7,a7 weigh #h4cei grams2 7,b7 be struck on a planchet having a diameter of #j4hej inches2 and 7,c7 contain #ij percent gold and #aj percent alloy4 7#b7 #a silver coins ,not more than #djj1jjj #a coins1 which shall-- 7,a7 weigh #bf4gc grams2 7,b7 be struck on a planchet having a diameter of #a4ejj inches2 and 7,c7 contain not less than #ij percent silver4 7#c7 ,half-dollar clad coins ,not more than #gej1jjj half-dollar coins which shall-- 7,a7 weigh #aa4cd grams2 7,b7 be struck on a planchet having a diameter of #a4bje inches2 and 7,c7 be minted to the specifications for half-dollar coins contained in section #eaab7;b7 of title #ca1 ,united ,states ,code4 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 sections #eacd and #eacf of title #ca1 ,united ,states ,code1 all coins minted under this ,act shall be considered to be numismatic items4 7d7 ,dome shape ,the coins minted under this ,act shall be in the shape of a dome4 #d4 ,design of coins 7a7 ,in general ,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 7b7 ,designations 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 #bjai2 and 7#c7 inscriptions of the words ,liberty1 ,in ,god ,we ,trust1 ,united ,states of ,america1 and ,e ,pluribus ,unum4 7c7 ,selection and approval process for obverse design 7#a7 ,in general ,the ,secretary shall hold a competition to determine the design of the common obverse of the coins minted under this ,act1 with such design being emblematic of the game of basketball4 7#b7 ,selection and approval ,proposals for the design of coins minted under this ,act may be submitted in accordance with the design selection and approval process developed by the ,secretary in the sole discretion of the ,secretary4 7#c7 ,proposals ,as part of the competition described in this subsection1 the ,secretary may accept proposals from artists1 engravers and other employees of the ,united ,states ,mint1 other ,government employees1 and members of the general public4 7#d7 ,compensation ,the ,secretary shall determine compensation for the winning design under this subsection1 which shall be not less than #e1jjj4 ,the ,secretary shall take into account this compensation amount when determining the sale price described in section #f7;a74 7d7 ,reverse design ,the design on the common reverse of the coins minted under this ,act shall depict a basketball4 #e4 ,issuance of coins 7a7 ,quality of coins ,coins minted under this ,act shall be issued in uncirculated and proof qualities4 7b7 ,period for issuance ,the ,secretary may issue coins minted under this ,act only during the #a-year period beginning on ,january #a1 #bjai4 #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 winning design compensation1 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 7#c7 ,a surcharge of #e per coin for the half-dollar 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 ,naismith ,memorial ,basketball ,hall of ,fame to fund an endowment that will enable increased operations and educational programming of the ,naismith ,memorial ,basketball ,hall of ,fame4 7c7 ,audits ,the ,naismith ,memorial ,basketball ,hall of ,fame 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 ,code 7as in effect on the date of the enactment of this ,act74 ,the ,secretary of the ,treasury may issue guidance to carry out this subsection4