Arnold Daniel Palmer Commemorative Coin Act

I 118TH CONGRESS 1ST SESSION H. R. 2808 To require the Secretary of the Treasury to mint commemorative coins in recognition of Arnold Daniel Palmer. IN THE HOUSE OF REPRESENTATIVES APRIL 24, 2023 Mr. RESCHENTHALER introduced the following bill; which was referred to the Committee on Financial Services A BILL To require the Secretary of the Treasury to mint commemorative coins in recognition of Arnold Daniel Palmer. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Arnold Daniel Palmer 4 Commemorative Coin Act’’. 5 SEC. 2. FINDINGS. 6 The Congress finds the following: 7 (1) On September 10, 1929, Arnold Palmer was 8 born in Latrobe, Pennsylvania, and graduated from 9 Greater Latrobe High School in 1947. 10 VerDate Sep 11 2014 22:16 Apr 28, 2023 Jkt 039200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H2808.IH H2808 kjohnson on DSK79L0C42PROD with BILLS 2 •HR 2808 IH (2) In 1948, Arnold Palmer enrolled at Wake 1 Forest College and was the Tournament medalist at 2 the NCAA Golf Championships in 1949 and 1950. 3 Following a tragic death suffered by his close friend 4 and classmate, Buddy Worsham, Arnold Palmer 5 withdrew from Wake Forest College to pursue a 6 three-year stint in the U.S. Coast Guard. 7 (3) In 1951, Arnold Palmer attended United 8 States Coast Guard recruit training at Cape May, 9 New Jersey. There, he was assigned the role of 10 physical fitness and self-defense instructor. He 11 would go on to serve three years in the Coast Guard 12 as a yeoman for Rear Admiral Roy L. Raney, Com- 13 mander of the 9th Coast Guard District Auxiliary in 14 Cleveland, Ohio. 15 (4) Arnold Palmer credited his successful golf 16 career to his enlisted service, stating: ‘‘The knowl- 17 edge that I gained, the maturity that I gained in the 18 Coast Guard was unbelievable . . . It matured me. 19 It made me a better person’’. 20 (5) On June 23, 2004, Arnold Palmer was the 21 first golfer to be awarded the Presidential Medal of 22 Freedom, and on September 12, 2012, Arnold Palm- 23 er was presented with the Congressional Gold Medal 24 in the rotunda of the United States Capitol. He is 25 VerDate Sep 11 2014 22:16 Apr 28, 2023 Jkt 039200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H2808.IH H2808 kjohnson on DSK79L0C42PROD with BILLS 3 •HR 2808 IH the first professional athlete to be awarded both the 1 Presidential Medal of Freedom and the Congres- 2 sional Gold Medal. 3 (6) In his professional golf career, Arnold 4 Palmer won 92 championships in professional com- 5 petition of national or international stature, 62 of 6 which were on the Professional Golf Association 7 Tour. Arnold Palmer received many honors outside 8 the sporting world, including the Patriot Award of 9 the Congressional Medal of Honor Society, the Gold- 10 en Plate Award of the American Academy of 11 Achievement, and the United States Navy Memorial 12 Lone Sailor Award. Arnold Palmer served for 20 13 years as the honorary national chairman of the 14 March of Dimes Birth Defects Foundation. 15 (7) On September 30, 2009, Congress author- 16 ized the Arnold Palmer Bronze Medal and it was 17 presented to him on September 12, 2012. 18 (8) Arnold Palmer, the son of a country club 19 employee in Latrobe, Pennsylvania, brought golf to 20 people around the world. Today, driven by the gen- 21 erosity of ‘‘Arnie’s Army’’, the Arnold & Winnie 22 Palmer Foundation carries on a pioneering tradition 23 of charity, service, and doing right by others. 24 VerDate Sep 11 2014 22:16 Apr 28, 2023 Jkt 039200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H2808.IH H2808 kjohnson on DSK79L0C42PROD with BILLS 4 •HR 2808 IH (9) The Arnold & Winnie Palmer Foundation 1 continues the Palmers’ mission to champion youth 2 health and development. By continuing their efforts 3 to ensure every child gets the opportunity to live a 4 life well played—by supporting nature-focused well- 5 being and character development through golf—the 6 Palmer Foundation is committed to keeping the 7 Palmer legacy at the forefront of the global con- 8 versation on golf and society at large. 9 SEC. 3. COIN SPECIFICATIONS. 10 (a) DENOMINATIONS.—The Secretary of the Treas- 11 ury (hereafter in this Act referred to as the ‘‘Secretary’’) 12 shall mint and issue the following coins in recognition and 13 celebration of Arnold Palmer: 14 (1) $5 GOLD COINS.—Not more than 50,000 $5 15 coins, which shall— 16 (A) weigh 8.359 grams; 17 (B) have a diameter of 0.850 inches; and 18 (C) contain not less than 90-percent gold. 19 (2) $1 SILVER COINS.—Not more than 400,000 20 $1 coins, which shall— 21 (A) weigh 26.73 grams; 22 (B) have a diameter of 1.500 inches; and 23 (C) contain not less than 90-percent silver. 24 VerDate Sep 11 2014 22:16 Apr 28, 2023 Jkt 039200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\H2808.IH H2808 kjohnson on DSK79L0C42PROD with BILLS 5 •HR 2808 IH (3) HALF-DOLLAR CLAD COINS.—Not more 1 than 750,000 half-dollar coins which shall— 2 (A) weigh 11.34 grams; 3 (B) have a diameter of 1.205 inches; and 4 (C) be minted to the specifications for half- 5 dollar coins contained in section 5112(b) of title 6 31, United States Code. 7 (b) LEGAL TENDER.—The coins minted under this 8 Act shall be legal tender, as provided in section 5103 of 9 title 31, United States Code. 10 (c) NUMISMATIC ITEMS.—For purposes of sections 11 5134 and 5136 of title 31, United States Code, all coins 12 minted under this Act shall be considered to be numis- 13 matic items. 14 SEC. 4. DESIGNS OF COINS. 15 (a) DESIGN REQUIREMENTS.— 16 (1) IN GENERAL.—The designs for the coins 17 minted under this Act shall be emblematic of Arnold 18 Palmer and his life and accomplishments. At least 19 one obverse design shall bear the image of Arnold 20 Palmer. 21 (2) DESIGNATIONS AND INSCRIPTIONS.—On 22 each coin minted under this Act, there shall be— 23 (A) a designation of the denomination of 24 the coin; 25 VerDate Sep 11 2014 22:16 Apr 28, 2023 Jkt 039200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\H2808.IH H2808 kjohnson on DSK79L0C42PROD with BILLS 6 •HR 2808 IH (B) an inscription of the year ‘‘2029’’; and 1 (C) inscriptions of the words ‘‘Liberty’’, 2 ‘‘In God We Trust’’, ‘‘United States of Amer- 3 ica’’, and ‘‘E Pluribus Unum’’. 4 (b) SELECTION.—The designs for the coins minted 5 under this Act shall be— 6 (1) selected by the Secretary, after consultation 7 with the Arnold & Winnie Palmer Foundation and 8 Commission of the Fine Arts; and 9 (2) reviewed by the Citizens Coinage Advisory 10 Committee. 11 SEC. 5. ISSUANCE OF COINS. 12 (a) QUALITY OF COINS.—Coins minted under this 13 Act shall be issued in uncirculated and proof qualities. 14 (b) PERIOD FOR ISSUANCE.—The Secretary may 15 issue coins minted under this Act only during the calendar 16 year beginning on January 1, 2029. 17 SEC. 6. SALE OF COINS. 18 (a) SALE PRICE.—The coins issued under this Act 19 shall be sold by the Secretary at a price based upon the 20 sum of— 21 (1) the face value of the coins; 22 (2) the surcharge provided in section 7(a) with 23 respect to such coins; and 24 VerDate Sep 11 2014 22:16 Apr 28, 2023 Jkt 039200 PO 00000 Frm 00006 Fmt 6652 Sfmt 6201 E:\BILLS\H2808.IH H2808 kjohnson on DSK79L0C42PROD with BILLS 7 •HR 2808 IH (3) the cost of designing and issuing the coins 1 (including labor, materials, dies, use of machinery, 2 overhead expenses, marketing, and shipping). 3 (b) BULK SALES.—The Secretary shall make bulk 4 sales of the coins issued under this Act at a reasonable 5 discount. 6 (c) PREPAID ORDERS.— 7 (1) IN GENERAL.—The Secretary shall accept 8 prepaid orders for the coins minted under this Act 9 before the issuance of such coins. 10 (2) DISCOUNT.—Sale prices with respect to pre- 11 paid orders under paragraph (1) shall be at a rea- 12 sonable discount. 13 SEC. 7. SURCHARGES. 14 (a) IN GENERAL.—All sales of coins minted under 15 this Act shall include a surcharge as follows: 16 (1) A surcharge of $35 per coin for the $5 coin. 17 (2) A surcharge of $10 per coin for the $1 coin. 18 (3) A surcharge of $5 per coin for the half-dol- 19 lar coin. 20 (b) DISTRIBUTION.—Subject to section 5134(f) of 21 title 31, United States Code, all surcharges received by 22 the Secretary from the sale of coins issued under this Act 23 shall be paid to the Arnold & Winnie Palmer Foundation 24 for application to general expenses associated with the ful- 25 VerDate Sep 11 2014 22:16 Apr 28, 2023 Jkt 039200 PO 00000 Frm 00007 Fmt 6652 Sfmt 6201 E:\BILLS\H2808.IH H2808 kjohnson on DSK79L0C42PROD with BILLS 8 •HR 2808 IH fillment of the mission of the Arnold & Winnie Palmer 1 Foundation, including costs associated with— 2 (1) children’s health; 3 (2) character development through the game of 4 golf; 5 (3) wellness through nature; and 6 (4) the Palmer legacy in golf and American his- 7 tory. 8 (c) AUDITS.—The Arnold & Winnie Palmer Founda- 9 tion shall be subject to the audit requirements of section 10 5134(f)(2) of title 31, United States Code, with regard 11 to the amounts received under subsection (b). 12 (d) LIMITATION.—Notwithstanding subsection (a), 13 no surcharge may be included with respect to the issuance 14 under this Act of any coin during a calendar year if, as 15 of the time of such issuance, the issuance of such coin 16 would result in the number of commemorative coin pro- 17 grams issued during such year to exceed the annual 2 18 commemorative coin program issuance limitation under 19 section 5112(m)(1) of title 31, United States Code. The 20 Secretary may issue guidance to carry out this subsection. 21 SEC. 8. FINANCIAL ASSURANCES. 22 The Secretary shall take such actions as may be nec- 23 essary to ensure that— 24 VerDate Sep 11 2014 22:16 Apr 28, 2023 Jkt 039200 PO 00000 Frm 00008 Fmt 6652 Sfmt 6201 E:\BILLS\H2808.IH H2808 kjohnson on DSK79L0C42PROD with BILLS 9 •HR 2808 IH (1) minting and issuing coins under this Act re- 1 sult in no net cost to the Federal Government; and 2 (2) no funds, including applicable surcharges, 3 are disbursed to any recipient designated in section 4 7(b) until to the total cost of designing and issuing 5 all of the coins authorized by this Act, including 6 labor, materials, dies, use of machinery, overhead ex- 7 penses, marketing, and shipping is recovered by the 8 United States Treasury, consistent with sections 9 5112(m) and 5134(f) of title 31, United States 10 Code. 11 Æ VerDate Sep 11 2014 22:16 Apr 28, 2023 Jkt 039200 PO 00000 Frm 00009 Fmt 6652 Sfmt 6301 E:\BILLS\H2808.IH H2808 kjohnson on DSK79L0C42PROD with BILLS