article: SECTION 1. SHORT TITLE. This Act may be cited as the ``Spirit of America Commemorative Coin Act of 2001''. SEC. 2. FINDINGS. The Congress finds as follows: (1) On September 11, 2001, the United States suffered the worst act of terrorism in its history. (2) The more than 6,000 people who lost their lives as a result of the terrorist attacks that occurred in New York City, at the Pentagon, and in Pennsylvania on September 11, 2001, will not be forgotten. (3) Hundreds of emergency personnel responded heroically to the crisis and lost their lives as a result. (4) People from everywhere in the United States responded to the crisis with an outpouring of support for the victims of the terrorist attacks and their families. (5) The civilized world stands with strength and fortitude in opposition to the cowardly terrorist attacks against the United States that occurred on September 11, 2001. (6) It is essential to remember not only the tragedy of the attacks, but also the strength and resolve demonstrated by the people of the United States in the aftermath of the attacks. (7) The minting of coins in commemoration of the Spirit of America will pay tribute to the countless heroes who risked their lives during the terrorist attacks and in their aftermath so that others may live and to a united people whose belief in freedom, justice, and democracy has never swayed. SEC. 3. COIN SPECIFICATIONS. (a) Denominations.--In commemoration of the Spirit of America, the Secretary of the Treasury (hereafter in this Act referred to as the ``Secretary'') shall mint and issue the following coins: (1) $50 gold coins.--Such number of 50 dollar coins as the Secretary determines under subsection (b), which shall-- (A) weigh 1 ounce; (B) have a diameter of 1.287 inches; and (C) contain 91.67 percent gold and 8.33 percent alloy. (2) $1 silver coins.--Such number of 1 dollar coins as the Secretary determines appropriate to meet demand, which shall-- (A) weigh 26.73 grams; (B) have a diameter of 1.500 inches; and (C) contain 90 percent silver and 10 percent copper. (3) Half dollar clad coins.--Such number of half dollar coins as the Secretary determines appropriate to meet demand, which shall-- (A) weigh 11.34 grams; (B) have 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) Number of Gold Coins.--The Secretary, in consultation with the Attorney General of the United States and the Governors of New York, Pennsylvania, and Virginia shall determine the number of innocent individuals confirmed or presumed to have been killed as a result of the terrorist attacks against the United States that occurred on September 11, 2001, and shall identify such individuals. The Secretary, under subsection (a)(1), shall mint and issue a number of 50 dollar coins equal to the number of such individuals. (c) Legal Tender.--The coins minted under this Act shall be legal tender, as provided in section 5103 of title 31, United States Code. (d) Numismatic Items.--For purposes of section 5136 of title 31, United States Code, all coins minted under this Act shall be considered to be numismatic items. (e) Sources of Bullion.--For the purpose of minting coins under this Act, the Secretary may only use metals that are from natural deposits in the United States or any territory or possession of the United States. (f) Special Treatment Under Exigent Circumstances.-- (1) Findings.--The Congress finds as follows: (A) The limitations contained in paragraphs (1) and (2)(A) of section 5112(m) of title 31, United States Code, and section 5134(f)(1)(B) of such title have well served, and continue to serve, their purpose of bringing greater stability to the markets for commemorative coins, maximizing demand and participation in such programs, and ensuring that such programs have a broad base of private support and are not used as the primary means of fundraising by organizations that are the recipients of surcharges. (B) The shocking circumstances of September 11, 2001, the broad base of public interest in showing the Spirit of America and participating in the raising of funds for the victims of the crimes committed on that date, and the importance of implementing this coin program as quickly as possible, notwithstanding the fact that 2 commemorative coin programs are already in effect for 2001 and 2002, justify exempting the coins produced under this Act from such limitations. (2) Exemption.--Paragraphs (1) and (2) of section 5112(m) of title 31, United States Code, and section 5134(f)(1)(B) of such title shall not apply to coins authorized under this Act. SEC. 4. DESIGN OF COINS. (a) In General.--The design of the coins minted under this Act shall be emblematic of the tragic events that occurred at the Pentagon, in New York City, and in Pennsylvania, on September 11, 2001. (b) Designation 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 date ``September 11, 2001'' (and such coin shall bear no other date); and (3) inscriptions of the words ``Liberty'', ``In God We Trust'', ``United States of America'', and ``E Pluribus Unum''. (c) Obverse of Coin.--The obverse of each coin minted under this Act shall bear the likeness of-- (1) the Pentagon; and (2) the flag of the United States. (d) Reverse of Coin.--The reverse of each coin minted under this Act shall bear the likeness of the World Trade Center in New York City. (e) Selection.--The design for the coins minted under this Act shall be selected by the Secretary after consultation with the Commission of Fine Arts. SEC. 5. STRIKING AND ISSUANCE OF COINS. (a) Quality of Coins.-- (1) In general.--Except as provided under paragraph (2), coins minted under this Act shall be issued in uncirculated quality. (2) Gold coins.--50 dollar coins minted under section 3(a)(1) shall be issued only in proof quality. (b) Mint Facility.-- (1) In general.--Except as provided under paragraph (2), only 1 facility of the United States Mint may be used to strike any particular quality of the coins minted under this Act. (2) Clad coins.--Any number of facilities of the United States Mint may be used to strike the half dollar coins minted under section 3(a)(3). (c) Period for Issuance.--The Secretary-- (1) shall commence issuing coins minted under this Act as soon as possible after the date of the enactment of this Act; and (2) shall not issue any coins after the end of the 1-year period beginning on the date such coins are first issued. SEC. 6. SALE OF COINS. (a) Sale Price.--The coins issued under paragraphs (2) and (3) of section 3(a) shall be sold by the Secretary at a price equal to the sum of-- (1) the face value of the coins; (2) the surcharges required by 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, overhead expenses, marketing, and shipping). (b) Bulk Sales.--The Secretary shall make bulk sales of the coins issued under paragraphs (2) and (3) of section 3(a) at a reasonable discount. (c) Prepaid Orders.--The Secretary shall accept prepaid orders received before the issuance of the coins minted under paragraphs (2) and (3) of section 3(a). The sale prices with respect to such prepaid orders shall be at a reasonable discount. (d) Gold Coins.--Notwithstanding section 5(c)(2), the Secretary may issue a 50 dollar coin minted under section 3(a)(1) free of charge to the next of kin of each individual identified under section 3(b). The Secretary may not sell any 50 dollar coin minted under section 3(a)(1) and may not issue any such coin except as provided in the preceding sentence. SEC. 7. SURCHARGES ON SALE OF COINS. (a) Assessment.--Any sale by the Secretary of a coin minted under this Act shall include a surcharge of an amount determined by the Secretary to be sufficient to cover the cost of the gold coins minted under section 3(a)(1) (including labor, materials, dies, use of machinery, overhead expenses, and shipping), which charge may not be less than-- (1) $10 per coin for the 1 dollar coin; and (2) $5 per coin for the half dollar coin. (b) Distribution of Excess Proceeds.--To the extent provided in advance in appropriation Acts, any proceeds from the surcharges received by the Secretary from the sale of coins issued under this Act in excess of the cost of producing all coins issued under this Act shall be paid promptly by the Secretary to the Office for Victims of Crime, in the Department of Justice, for the purpose of providing assistance to individuals who were injured, and to the families of individuals who were killed or injured, in the terrorist attacks against the United States on September 11, 2001. SEC. 8. VICTIMS OF SEPTEMBER 11TH FUND. (a) Establishment.--There is hereby established on the books of the Treasury a fund to be known as the ``Victims of September 11th Fund'' (hereinafter in this section referred to as the ``Fund''), to be administered by the Attorney General, acting through the Director of the Office for Victims of Crime. (b) Amounts.--The Fund shall consist of the amounts transferred to the Office for Victims of Crime pursuant to section 7(b). (c) Use.--Subject to subsection (d), amounts in the Fund shall be used to provide assistance to individuals who were injured, and to the families of individuals who were killed or injured, in the terrorist attacks against the United States on September 11, 2001. (d) Administrative Costs.--No cost incurred in providing assistance under subsection (c), or in administering the Fund, shall be paid from the Fund or set off against or otherwise deducted from any assistance to any individual. (e) Investment.--Amounts in the Fund shall be invested in accordance with section 9702 of title 31, United States Code, and any interest on, and proceeds from, any such investment shall be credited to and become a part of the Fund. (f) Coordination With September 11th Victim Compensation Fund of 2001.--No assistance provided under subsection (c), including assistance in the form of cash, shall be considered collateral source compensation for purposes of title IV of the Air Transportation Safety and System Stabilization Act (Public Law 107-42). (g) Authorization of Appropriations.--There are authorized to be appropriated to the Attorney General such sums as may be necessary to carry out this section.
summary: Spirit of America Commemorative Coin Act of 2001 - Directs the Secretary of the Treasury to mint and issue $50 gold coins, one-dollar silver coins, and half-dollar clad coins emblematic of the tragic events that occurred at the Pentagon, in New York City, and in Pennsylvania, on September 11, 2001.Establishes the Victims of September 11th Fund which shall consist of amounts from surcharges received from the sale of such coins transferred to the Office for Victims of Crime for individuals who were injured, and to the families of individuals who were killed or injured, in the terrorist attacks against the United States on September 11, 2001.