[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1235 Introduced in House (IH)]
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115th CONGRESS
1st Session
H. R. 1235
To require the Secretary of the Treasury to mint coins in recognition
of the 60th Anniversary of the Naismith Memorial Basketball Hall of
Fame.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
February 27, 2017
Mr. Neal (for himself, Mr. Barr, and Mr. Kelly of Pennsylvania)
introduced the following bill; which was referred to the Committee on
Financial Services
_______________________________________________________________________
A BILL
To require the Secretary of the Treasury to mint coins in recognition
of the 60th Anniversary of the Naismith Memorial Basketball Hall of
Fame.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Naismith Memorial Basketball Hall of
Fame Commemorative Coin Act''.
SEC. 2. FINDINGS.
The Congress finds the following:
(1) On December 21, 1891, a young physical education
instructor named James Naismith, introduced the game of
``basket ball'' to his physical education class, in
Springfield, Massachusetts.
(2) In 1959, the Naismith Memorial Basketball Hall of Fame
was founded and dedicated to the game's creator Dr. James
Naismith, in Springfield, MA, ``The Birthplace of Basketball''
and became the first and only museum to honor the game at all
levels around the world.
(3) The Naismith Memorial Basketball Hall of Fame honors
players who have achieved greatness, exemplary coaches,
referees and other major contributors to the sport of
basketball. The Inaugural Hall of Fame Class of 1959 had
seventeen honorees who were inducted, including Dr. James
Naismith, George Mikan, Forrest C. Allen, Angelo Luisetti,
Original Celtics and First Team.
(4) 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 players, coaches, and
contributors.
(5) The Naismith Memorial Basketball Hall of Fame provides
an entertaining, enriching experience and is known for its
educational outreach programs and celebrates and promotes
positive core values demonstrated by basketball's hallowed
heroes and its founder.
(6) Basketball is one of America's national treasures; with
its fast pace which reflects the freedom of expression and the
modern experience of life in the 21st century.
(7) Since its opening in 1959, the Naismith Memorial
Basketball Hall of Fame is home to the largest collection of
basketball memorabilia in the world, including more than 30,000
three-dimensional objects, 800,000 photographs, and 1.5 million
documents.
(8) The Naismith Memorial Basketball Hall of Fame welcomes
more than 6,000,000 visitors interested in discovering the rich
history of the game through its stories, its personalities, and
its most celebrated moments.
(9) The Naismith Memorial Basketball Hall of Fame reaches
over seven million Americans through its educational programs,
events, exhibits, social media, and its interactive website.
(10) The Naismith Memorial Basketball Hall of Fame's
customized educational programs use basketball to teach young
students around the world the important lessons on a variety of
topics including: financial literacy, mathematics, civil
rights, leadership of character, women's and men's history, and
geography.
(11) The Naismith Memorial Basketball Hall of Fame will
lead the celebration of the 60th Anniversary of Basketball and
will partner with a select group of constituents including the
National Basketball Association, the National Collegiate
Athletic Association, and USA Basketball in commemorating the
game throughout the 2019-2020 basketball season.
SEC. 3. COIN SPECIFICATIONS.
(a) Denominations.--In recognition and celebration of the Naismith
Memorial Basketball Hall of Fame, the Secretary of the Treasury
(hereafter in this Act referred to as the ``Secretary'') shall mint and
issue the following coins:
(1) $5 gold coins.--Not more than 50,000 $5 coins, which
shall--
(A) weigh 8.359 grams;
(B) be struck on a planchet having a diameter of
0.850 inches; and
(C) contain 90 percent gold and 10 percent alloy.
(2) $1 silver coins.--Not more than 400,000 $1 coins, which
shall--
(A) weigh 26.73 grams;
(B) be struck on a planchet having a diameter of
1.500 inches; and
(C) contain not less than 90 percent silver.
(3) Half-dollar clad coins.--Not more than 750,000 half-
dollar coins which shall--
(A) weigh 11.34 grams;
(B) be struck on a planchet having a diameter of
1.205 inches; and
(C) be minted to the specifications for half-dollar
coins contained in section 5112(b) of title 31, United
States Code.
(b) Legal Tender.--The coins minted under this Act shall be legal
tender, as provided in section 5103 of title 31, United States Code.
(c) Numismatic Items.--For purposes of sections 5134 and 5136 of
title 31, United States Code, all coins minted under this Act shall be
considered to be numismatic items.
(d) Dome Shape.--The coins minted under this Act shall be in the
shape of a dome.
SEC. 4. DESIGN OF COINS.
(a) In General.--The design for the coins minted under this Act
shall be--
(1) selected by the Secretary after consultation with the
Commission of Fine Arts; and
(2) reviewed by the Citizens Coinage Advisory Committee.
(b) Designations and Inscriptions.--On each coin minted under this
Act there shall be--
(1) a designation of the value of the coin;
(2) an inscription of the year ``2019''; and
(3) inscriptions of the words ``Liberty'', ``In God We
Trust'', ``United States of America'', and ``E Pluribus Unum''.
(c) Selection and Approval Process for Obverse Design.--
(1) In general.--The Secretary shall hold a competition to
determine the design of the common obverse of the coins minted
under this Act, with such design being emblematic of the game
of basketball.
(2) 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 Secretary.
(3) Proposals.--As part of the competition described in
this subsection, the Secretary may accept proposals from
artists, engravers and other employees of the United States
Mint, other Government employees, and members of the general
public.
(4) Compensation.--The Secretary shall determine
compensation for the winning design under this subsection,
which shall be not less than $5,000. The Secretary shall take
into account this compensation amount when determining the sale
price described in section 6(a).
(d) Reverse Design.--The design on the common reverse of the coins
minted under this Act shall depict a basketball.
SEC. 5. ISSUANCE OF COINS.
(a) Quality of Coins.--Coins minted under this Act shall be issued
in uncirculated and proof qualities.
(b) Period for Issuance.--The Secretary may issue coins minted
under this Act only during the 1-year period beginning on January 1,
2019.
SEC. 6. SALE OF COINS.
(a) Sale Price.--The coins issued under this Act shall be sold by
the Secretary at a price equal to the sum of--
(1) the face value of the coins;
(2) the surcharge provided in section 7(a) with respect to
such coins; and
(3) the cost of designing and issuing the coins (including
labor, materials, dies, use of machinery, winning design
compensation, overhead expenses, marketing, and shipping).
(b) Bulk Sales.--The Secretary shall make bulk sales of the coins
issued under this Act at a reasonable discount.
(c) Prepaid Orders.--
(1) In general.--The Secretary shall accept prepaid orders
for the coins minted under this Act before the issuance of such
coins.
(2) Discount.--Sale prices with respect to prepaid orders
under paragraph (1) shall be at a reasonable discount.
SEC. 7. SURCHARGES.
(a) In General.--All sales of coins minted under this Act shall
include a surcharge as follows:
(1) A surcharge of $35 per coin for the $5 coin.
(2) A surcharge of $10 per coin for the $1 coin.
(3) A surcharge of $5 per coin for the half-dollar coin.
(b) Distribution.--Subject to section 5134(f) of title 31, United
States Code, 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 Fame.
(c) Audits.--The Naismith Memorial Basketball Hall of Fame shall be
subject to the audit requirements of section 5134(f)(2) of title 31,
United States Code, with regard to the amounts received under
subsection (b).
(d) Limitation.--Notwithstanding subsection (a), no surcharge may
be included with respect to the issuance under this Act of any coin
during a calendar year if, as of the time of such issuance, 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 5112(m)(1) of title 31,
United States Code (as in effect on the date of the enactment of this
Act). The Secretary of the Treasury may issue guidance to carry out
this subsection.
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