Olympic Commemorative Coin Act

Summary

Olympic Commemorative Coin Act - Directs the Secretary of the Treasury to issue one-dollar silver coins and ten-dollar gold coins emblematic of the 1984 Los Angeles Summer Olympic Games. Requires the Secretary to determine the designs of such coins. Requires the issuance of the silver coins in two separate designs, one in 1983 and one in 1984. Declares such coins legal tender and limits the amount issued. Directs the Secretary to prescribe regulations for the sales of such coins within the United States, including a surcharge per coin. Requires the Secretary to assign the rights to market such coins outside the United States to one or more marketing organizations selected by a committee consisting of the Secretary, the executive director of the United States Olympic Committee, and the President of the Los Angeles Olympic Organizing Committee. Sets forth selection criteria for such marketing organizations. Directs the Secretary to pay: (1) 50 percent of all surcharges from the sale of the coins to the United States Olympic Committee to train United States Olympic athletes, support local or community amateur athletic programs, and to erect training facilities; and (2) 50 percent of such surcharges to the Los Angeles Olympic Organizing Committee to stage and promote the games. Requires the Secretary to enter into an implementation agreement with the marketing organization selected under this Act, which shall ensure that the issuance of the commemorative coins shall result in no net cost to the United States. Authorizes the Secretary to terminate the agreement if the termination is in the best interests of the United States. Requires deposit of all amounts received from the sale of such coins in the Coinage Profit Fund. Charges all expenditures under this Act to such Fund. Grants the Comptroller General the right to examine the records of the United States Olympic Committee and the Los Angeles Olympic Organizing Committee with respect to amounts received under this Act. Prohibits the issuance of coins under this Act unless the Secretary has received full payment for them. Requires the Secretary to report to Congress not later than 45 days after each calendar quarter on the activities carried out under this Act during such quarter. Terminates such requirement after December 31, 1985.

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Timeline

1. 26 April 1982

   Introduced

   Referred to House Committee on Banking, Finance and Urban Affairs.

   Source: IntroReferral

2. 26 April 1982

   Introduced

   Introduced in House

   Source: IntroReferral

3. 26 April 1982

   Introduced

   Introduced in House

   Source: IntroReferral

4. 29 April 1982

   Committee

   Hearings Held by Subcommittee on Consumer Affairs and Coinage Prior to Referral (Apr 29, 82).

   Source: Committee

5. 3 May 1982

   Referred

   Referred to Subcommittee on Consumer Affairs and Coinage.

   Source: Committee

6. 11 May 1982

   Committee

   Subcommittee Hearings Held.

   Source: Committee

7. 12 May 1982

   Committee

   Subcommittee Hearings Held.

   Source: Committee

8. 13 May 1982

   Committee

   Committee Consideration and Mark-up Session Held.

   Source: Committee

9. 13 May 1982

   Committee

   Forwarded by Subcommittee to Full Committee.

   Source: Committee

10. 13 May 1982

    Committee

    Subcommittee Consideration and Mark-up Session Held.

    Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 26 April 1982

  Open at official source

Sponsors

• Rep. Annunzio, Frank [D-IL-11] · D · Sponsor
• Rep. Addabbo, Joseph P. [D-NY-6] · D · Sponsor
• Rep. Bailey, Donald A. [D-PA-21] · D · Sponsor
• Rep. Barnard, Doug, Jr. [D-GA-10] · D · Sponsor
• Rep. Bonior, David E. [D-MI-10] · D · Sponsor
• Rep. Derwinski, Edward J. [R-IL-4] · R · Sponsor
• Rep. Forsythe, Edwin B. [R-NJ-6] · R · Sponsor
• Rep. Hughes, William J. [D-NJ-2] · D · Sponsor
• Rep. Minish, Joseph G. [D-NJ-11] · D · Sponsor
• Rep. Moffett, Toby [D-CT-6] · D · Sponsor
• Rep. Petri, Thomas E. [R-WI-6] · R · Sponsor
• Rep. Rodino, Peter W., Jr. [D-NJ-10] · D · Sponsor
• Rep. Rose, Charlie [D-NC-7] · D · Sponsor
• Del. Sunia, Foto I. F. [D-AS-At Large] · D · Sponsor
• Rep. Fish, Hamilton, Jr. [R-NY-19] · R · Cosponsor
• · hsba00 · Standing

Related records

• related to → Olympic Commemorative Silver Dollar Act