,,ii #aagth ,,congress #b;d ,session ,s4 #dchb ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,june #ac1 #bjbb,mr4 ,padilla 7for himself1 ,mrs4 ,feinstein1 and ,mr4 ,romney7 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 commemoration of the #bjbh ,olympic and ,paralympic ,games in ,los ,angeles1 ,california4 #a4 ,short title ,this ,act may be cited as the ,,la#bh ,olympic and ,paralympic ,games ,commemorative ,coin ,act4 #b4 ,findings ,congress finds the following3 7#a7 ,the #bjbh ,olympic and ,paralympic ,games1 officially known as the ,games of the ,,xxxiv ,olympiad or ,,la#bh1 will be held in ,los ,angeles1 ,california4 7#b7 ,this will be the first time the ,olympic and ,paralympic ,games have been held in the ,united ,states in #bf years4 7#c7 ,the ,united ,states has hosted the modern ,olympic ,games #i times1 with the #bjbh ,games becoming the third time ,los ,angeles will host the summer ,olympic ,games4 7#d7 ,the ,paralympic ,games will celebrate its #hjth anniversary in #bjbh1 with ,los ,angeles hosting the ,paralympic ,games for the first time4 7#e7 ,unlike some other countries1 ,olympic ,games in the ,united ,states are privately funded4 ,the ,,la#bh ,games maintain this model with its revenue generated by corporate partners1 broadcast rights1 licensing1 hospitality and ticket sales4 7#f7 ,with ,los ,angeles hosting the ,paralympic ,games for the first time in #bjbh1 the #bjbh ,olympic and ,paralympic ,games ,commemorative ,coin ,program has the opportunity to increase awareness and create more inclusivity for people with disabilities with the creation of a single1 unifying coin to commemorate the ,games4 #c4 ,coin specifications 7a7 ,denominations ,the ,secretary of the ,treasury 7in this ,act referred to as the ,secretary7 shall mint and issue the following coins in commemoration of the #bjbh ,olympic and ,paralympic ,games in ,los ,angeles1 ,california3 7#a7 #e ,gold coins ,not more than #ajj1jjj #e coins1 each of which shall-- 7,a7 weigh #h4cei grams2 7,b7 have a diameter of #j4hej inches2 and 7,c7 contain not less than #ij percent gold4 7#b7 #a silver coins ,not more than #ejj1jjj #a coins1 each of which shall-- 7,a7 weigh #bf4gc grams2 7,b7 have a diameter of #a4ejj inches2 and 7,c7 contain not less than #ij percent silver4 7#c7 ,half dollar clad coins ,not more than #cjj1jjj half-dollar coins1 each of which shall-- 7,a7 weigh #aa4cd grams2 7,b7 have 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 7#d7 ,proof silver #a coins ,not more than #ajj1jjj proof silver #a coins1 each of which shall-- 7,a7 weigh #e ounces2 7,b7 have a diameter of #c inches2 and 7,c7 contain 4#iii fine silver4 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 7d7 ,mintage limit exception ,if the ,secretary determines1 based on independent1 market based research conducted by the ,u4,s4 ,olympic and ,paralympic ,committee1 that the mintage levels described under this subsection are not adequate to meet public demand1 the ,secretary may increase the mintage levels as the ,secretary determines is necessary to meet public demand4 #d4 ,designs of coins 7a7 ,design requirements 7#a7 ,in general ,the designs of the coins minted under this ,act shall be emblematic of the participation of ,united ,states athletes in the ,,la#bh ,games4 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 #bjbh2 and 7,c7 inscriptions of the words ,liberty1,in ,god ,we ,trust1,united ,states of ,america1 and ,e ,pluribus ,unum4 7#c7 ,selection of designs ,the designs for the coins minted under this ,act shall be-- 7,a7 selected by the ,secretary after consultation with-- 7i7 the ,united ,states ,olympic and ,paralympic ,properties2 and 7ii7 the ,commission of ,fine ,arts2 and 7,b7 reviewed by the ,citizens ,coinage ,advisory ,committee4 #e4 ,issuance of coins 7a7 ,quality of coins ,the ,secretary may issue coins minted under this ,act 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 #bjbh4 #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 such coins 7including labor1 materials1 dies1 use of machinery1 overhead expenses1 and 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 ,sales with respect to prepaid orders under paragraph 7#a7 shall be at a reasonable discount4 #g4 ,surcharges 7a7 ,in general ,all sales of coins issued under this ,act shall include a surcharge of-- 7#a7 #ce per coin for the #e coin2 7#b7 #aj per coin for the #a coin described under section #c7;a77#b72 7#c7 #e per coin for the half-dollar coin2 and 7#d7 #ej per coin for the #a proof silver 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 ,united ,states ,olympic and ,paralympic ,properties for the objects and purposes related to the hosting of the #bjbh ,olympic and ,paralympic ,games and to aid in the execution of its legacy programs1 including the promotion of youth sports in the ,united ,states4 7c7 ,audits ,the ,united ,states ,olympic and ,paralympic ,properties 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 #b commemorative coin programs 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 may issue guidance to carry out this subsection4 #h4 ,marketing and financial assurances 7a7 ,in general ,the ,secretary shall take such actions as may be necessary to ensure that-- 7#a7 minting and issuing coins under this ,act result in no net cost to the ,federal ,government2 and 7#b7 no funds1 including applicable surcharges1 shall be disburses to any recipient designated in section #g7;b7 until the total cost of designing and issuing all of the coins authorized by this ,act1 including labor1 materials1 dies1 use of machinery1 overhead expenses1 marketing and shipping1 is recovered by the ,united ,states ,treasury1 consistent with sections #eaab7m7 and #eacd7;f7 of title #ca1 ,united ,states ,code4 7b7 ,marketing and educational program ,the ,secretary is encouraged to develop and execute a marketing and educational program1 including appropriate cooperative marketing opportunities with the ,united ,states ,olympic and ,paralympic ,properties and its licensees1 to promote and sell the coins authorized under this ,act4