Page:United States Statutes at Large Volume 118.djvu/3910

 118 STAT. 3880 PUBLIC LAW 108–464—DEC. 21, 2004 (A) a designation of the value of the coin; (B) an inscription of the year ‘‘2006’’; and (C) inscriptions of the words ‘‘Liberty’’, ‘‘In God We Trust’’, ‘‘United States of America’’, and ‘‘E Pluribus Unum’’. (b) SELECTION.—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 established under section 5135 of title 31, United States Code. SEC. 5. ISSUANCE OF COINS. (a) QUALITY OF COINS.—Coins minted under this Act shall be issued in uncirculated and proof qualities. (b) COMMENCEMENT OF ISSUANCE.—The Secretary may issue coins minted under this Act beginning January 1, 2006, except that the Secretary may initiate sales of such coins, without issuance, before such date. (c) TERMINATION OF MINTING AUTHORITY.—No coins shall be minted under this Act after December 31, 2006. SEC. 6. SALE OF COINS. (a) SALE PRICE.—Notwithstanding any other provision of law, the coins issued under this Act shall be sold by the Secretary at a price equal to the face value, plus the cost of designing and issuing such coins (including labor, materials, dies, use of machinery, overhead expenses, and marketing). (b) BULK SALES.—The Secretary shall make bulk sales of the coins issued under this Act at a reasonable discount. (c) PREPAID ORDERS AT A DISCOUNT.— (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. (d) SALES OF SINGLE COINS AND SETS OF COINS.—Coins of each design specified under section 4 may be sold separately or as a set containing a coin of each such design. SEC. 7. SURCHARGES. (a) SURCHARGE REQUIRED.—All sales shall include a surcharge of $10 per coin. (b) DISTRIBUTION.—Subject to section 5134(f) of title 31, United States Code, all surcharges which are received by the Secretary from the sale of coins issued under this Act shall be promptly paid by the Secretary to the Franklin Institute for purposes of the Benjamin Franklin Tercentenary Commission. (c) AUDITS.—The Franklin Institute shall be subject to the audit requirements of section 5134(f)(2) of title 31, United States Code, with regard to the amounts received by the Institute pursuant to 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 commemora- tive coin programs issued during such year to exceed the annual 2 commemorative coin program issuance limitation under section VerDate 11-MAY-2000 13:54 Nov 10, 2005 Jkt 029194 PO 00000 Frm 00414 Fmt 6580 Sfmt 6581 C:\STATUTES\2004\29194PT4.001 APPS10 PsN: 29194PT4

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