,,ii #aaith ,,congress #ast ,session ,s4 #bbfe ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,july #ad1 #bjbe ,mr4 ,padilla 7for himself1 ,mr4 ,curtis1 ,mr4 ,schiff1 and ,mr4 ,mullin7 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 ,california1 and the #bjcd ,olympics and ,paralympic ,winter ,games in ,salt ,lake ,city1 ,utah4 #a4 ,short title ,this ,act may be cited as the ,america's ,olympic and ,paralympic ,games ,commemorative ,coins ,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 ,the #bjcd ,olympic and ,paralympic ,winter ,games1 officially known as the ,,xxvii ,olympic ,winter ,games #bjcd1 will be held in ,salt ,lake ,city1 ,utah4 7#c7 ,this marks the return of the ,olympic and ,paralympic ,games to the ,united ,states for the first time in #bf years1 following the successful #bjjb ,olympic and ,paralympic ,winter ,games in ,salt ,lake ,city4 7#d7 ,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 ,games and the #bjcd ,games becoming the second time ,salt ,lake ,city will host the ,olympic ,winter ,games4 7#e7 ,the ,paralympic ,games will celebrate its #hjth anniversary in #bjbh1 with ,los ,angeles hosting the ,paralympic ,games for the first time4 7#f7 ,unlike some other countries1 ,olympic ,games in the ,united ,states are privately funded4 ,the ,,la#bh and ,salt ,lake ,city-,utah #bjcd ,games maintain this model with its revenue generated by corporate partners1 broadcast rights1 licensing1 hospitality1 and ticket sales4 7#g7 ,with the ,paralympic ,games coming to the ,united ,states1 the #bjbh and #bjcd ,olympic and ,paralympic ,games ,commemorative ,coin ,program have 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 ,definitions ,in this ,act1 the term ,secretary means the ,secretary of the ,treasury4 #d4 #bjbh olympic and paralympic coin program 7a7 ,coin specifications 7#a7 ,denominations ,the ,secretary 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-- 7i7 weigh #h4cei grams2 7ii7 have a diameter of #j4hej inches2 and 7iii7 contain not less than #ij percent gold4 7,b7 #a silver coins ,not more than #ejj1jjj #a coins1 each of which shall-- 7i7 weigh #bf4gc grams2 7ii7 have a diameter of #a4ejj inches2 and 7iii7 contain not less than #ij percent silver4 7,c7 ,half-dollar clad coins ,not more than #cjj1jjj half-dollar coins1 each of which shall-- 7i7 weigh #aa4cd grams2 7ii7 have a diameter of #a4bje inches2 and 7iii7 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-- 7i7 weigh #e ounces2 7ii7 have a diameter of #c inches2 and 7iii7 contain 4#iii fine silver4 7#b7 ,legal tender ,the coins minted under this section shall be legal tender1 as provided in section #eajc of title #ca1 ,united ,states ,code4 7#c7 ,numismatic items ,for purposes of sections #eacd and #eacf of title #ca1 ,united ,states ,code1 all coins minted under this section shall be considered to be numismatic items4 7#d7 ,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 in this section are not adequate to meet public demand1 the ,secretary may increase the mintage levels as the ,secretary determines is necessary to meet public demand4 7b7 ,designs of coins 7#a7 ,design requirements 7,a7 ,in general ,the designs of the coins minted under this section 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 section1 there shall be-- 7i7 a designation of the value of the coin2 7ii7 an inscription of the year #bjbh2 and 7iii7 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 section shall be-- 7i7 selected by the ,secretary after consultation with-- 7,i7 the ,united ,states ,olympic and ,paralympic ,properties2 and 7,,ii7 the ,commission of ,fine ,arts2 and 7ii7 reviewed by the ,citizens ,coinage ,advisory ,committee4 7c7 ,issuance of coins 7#a7 ,quality of coins ,the ,secretary may issue coins minted under this section in uncirculated and proof qualities4 7#b7 ,period of issuance ,the ,secretary may issue coins minted under this section only during the #a-year period beginning on ,january #a1 #bjbh4 7d7 ,sale of coins 7#a7 ,sale price ,the coins issued under this section 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 subsection 7e77#a7 with respect to the coins2 and 7,c7 the cost of designing and issuing the coins 7including labor1 materials1 dies1 use of machinery1 overhead expenses1 and marketing1 and shipping74 7#b7 ,bulk sales ,the ,secretary shall make bulk sales of the coins issued under this section at a reasonable discount4 7#c7 ,prepaid orders 7,a7 ,in general ,the ,secretary shall accept prepaid orders for the coins minted under this section before the issuance of such coins4 7,b7 ,discount ,sales with respect to prepaid orders under subparagraph 7,a7 shall be at a reasonable discount4 7e7 ,surcharges 7#a7 ,in general ,all sales of coins issued under this section shall include a surcharge of-- 7,a7 #ce per coin for the #e coin2 7,b7 #aj per coin for the #a coin described in subsection 7a77#a77;,b72 7,c7 #e per coin for the half-dollar coin2 and 7,d7 #ej per coin for the #a proof silver coin4 7#b7 ,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 section 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 7#c7 ,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 paragraph 7#b74 7#d7 ,limitation ,notwithstanding paragraph 7#a71 no surcharge may be included with respect to the issuance under this section 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 7f7 ,marketing and financial assurances 7#a7 ,in general ,the ,secretary shall take such actions as may be necessary to ensure that-- 7,a7 minting and issuing coins under this section result in no net cost to the ,federal ,government2 and 7,b7 no funds1 including applicable surcharges1 shall be disbursed to any recipient designated in subsection 7e77#b7 until the total cost of designing and issuing all of the coins authorized by this section1 including labor1 materials1 dies1 use of machinery1 overhead expenses1 marketing1 and shipping1 is recovered by the ,united ,states ,treasury1 consistent with sections #eaab7m7 and #eacd7;f7 of title #ca1 ,united ,states ,code4 7#b7 ,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 section4 #e4 #bjcd winter olympic and paralympic coin program 7a7 ,coin specifications 7#a7 ,denominations ,the ,secretary shall mint and issue the following coins in commemoration of the #bjcd ,olympic and ,paralympic ,winter ,games in ,salt ,lake ,city1 ,utah3 7,a7 #e gold coins ,not more than #ajj1jjj #e coins1 which shall-- 7i7 weigh #h4cei grams2 7ii7 have a diameter of #j4hej inches2 and 7iii7 contain not less than #ij percent gold4 7,b7 #a silver coins ,not more than #ejj1jjj #a coins1 which shall-- 7i7 weigh #bf4gc grams2 7ii7 have a diameter of #a4ejj inches2 and 7iii7 contain not less than #ij percent silver4 7,c7 ,half-dollar clad coins ,not more than #cjj1jjj half-dollar coins1 which shall-- 7i7 weigh #aa4cd grams2 7ii7 have a diameter of #a4bje inches2 and 7iii7 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 which shall-- 7i7 weigh #e ounces2 7ii7 have a diameter of #c inches2 and 7iii7 contain 4#iii fine silver4 7#b7 ,legal tender ,the coins minted under this section shall be legal tender1 as provided in section #eajc of title #ca1 ,united ,states ,code4 7#c7 ,numismatic items ,for purposes of sections #eacd and #eacf of title #ca1 ,united ,states ,code1 all coins minted under this section shall be considered to be numismatic items4 7#d7 ,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 in this section are not adequate to meet public demand1 the ,secretary may increase the mintage levels as the ,secretary determines is necessary to meet public demand4 7b7 ,designs of coins 7#a7 ,design requirements 7,a7 ,in general ,the designs of the coins minted under this section shall be emblematic of the participation of ,united ,states athletes in or the staging of the #bjcd ,olympic and ,paralympic ,winter ,games4 7,b7 ,designation and inscriptions ,on each coin minted under this section1 there shall be-- 7i7 a designation of the value of the coin2 7ii7 an inscription of the year #bjcd2 and 7iii7 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 section shall be-- 7i7 selected by the ,secretary after consultation with-- 7,i7 the ,organizing ,committee for the #bjcd ,olympic and ,paralympic ,winter ,games2 and 7,,ii7 the ,commission of ,fine ,arts2 and 7ii7 reviewed by the ,citizens ,coinage ,advisory ,committee4 7c7 ,issuance of coins 7#a7 ,quality of coins ,the ,secretary may issue coins minted under this section in uncirculated and proof qualities4 7#b7 ,period for issuance ,the ,secretary may issue coins under this section only during the #a-year period beginning on ,january #a1 #bjcd4 7d7 ,sale of coins 7#a7 ,sale price ,the coins issued under this section 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 subsection 7e77#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 7#b7 ,bulk sales ,the ,secretary shall make bulk sales of the coins issued under this section at a reasonable discount4 7#c7 ,prepaid orders 7,a7 ,in general ,the ,secretary shall accept prepaid orders for the coins minted under this section before the issuance of such coins4 7,b7 ,discount ,sales prices respect to prepaid orders under subparagraph 7,a7 shall be at a reasonable discount4 7e7 ,surcharges 7#a7 ,in general ,all sales of coins issued under this section shall include-- 7,a7 a surcharge of #ce per coin for the #e coins2 7,b7 a surcharge of #aj per coin for the #a coins2 7,c7 a surcharge of #e per coin for the half-dollar coins2 and 7,d7 a surcharge of #ej per coin for the #a proof silver coins4 7#b7 ,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 section shall be promptly paid to the ,organizing ,committee for the #bjcd ,olympic and ,paralympic ,winter ,games for the objects and purposes related to the hosting of the #bjcd ,olympic and ,paralympic ,winter ,games and to support its legacy ambitions1 including the protection and promotion of winter sports and programs for young and elite athletes4 7#c7 ,audits ,the ,organizing ,committee for the #bjcd ,olympic and ,paralympic ,winter ,games 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 paragraph 7#b74 7#d7 ,limitation ,notwithstanding paragraph 7#a71 no surcharge may be included with respect to the issuance under this section 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 7f7 ,marketing and financial assurances 7#a7 ,in general ,the ,secretary shall take such actions as may be necessary to ensure that-- 7,a7 minting and issuing coins under this section will not result in any net cost to the ,united ,states ,government2 and 7,b7 no funds1 including applicable surcharges1 shall be disbursed to any recipient designated in subsection 7e77#b7 until the total cost of designing and issuing all of the coins authorized by this section 7including labor1 materials1 dies1 use of machinery1 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 7#b7 ,marketing and educational program ,the ,secretary is encouraged to develop and execute a marketing and educational program1 including appropriate cooperative marketing opportunities with the ,organizing ,committee for the #bjcd ,olympic and ,paralympic ,winter ,games and its licensees1 to promote and sell the coins authorized under this section4