H.R. 893, Boys Town Centennial Commemorative Coin Act

H.R. 893

Boys Town Centennial Commemorative Coin Act

Date
June 23, 2015 (114th Congress, 1st Session)

Staff Contact
John Huston

Floor Situation

On Tuesday, June 23, 2015, the House will consider H.R. 893, the Boys Town Centennial Commemorative Coin Act, under suspension of the rules.  H.R. 893 was introduced on February 11, 2015, by Rep. Jeff Fortenberry (R-NE) and was referred to the Committee on Financial Services.

Bill Summary

H.R. 893 directs the Secretary of the Treasury to mint and issue up to 50,000 $5 gold coins, 350,000 $1 silver coins, and 300,000 half-dollar clad coins to commemorate the centennial of the founding of Father Flanagan’s Boys Town. The bill requires the design of the coins to be emblematic of the 100 years of Boys Town, one of the largest nonprofit child care agencies in the United States. It permits issuance of such coins only during calendar year 2017. The bill also subjects all coin sales to specified surcharges, which shall be paid to the Boys Town organization, after it satisfies matching fund and audit requirements in Title 31, United States Code.

Additionally, H.R. 893 directs the Secretary to ensure that: (1) minting and issuing such coins will not result in any net loss to the Federal government; and (2) no funds, including surcharges, will be disbursed to Boys Town until the total cost of designing and issuing all authorized coins is recovered by the Treasury.

Background

Boys Town is a nonprofit organization dedicated to saving children and healing families. The organization was developed from Father Flanagan’s Boys Home, which Father Edward Flanagan founded on December 12, 1917. After World War II, President Truman asked Father Flanagan to travel all over the world to advise government leaders on how to care for displaced children. Boys Town has grown exponentially since its founding and now provides care to children and families all across the country. It impacts the lives of over two million children and families in the United States each year.

Congress authorizes commemorative coins that celebrate and honor American people, places, events, and institutions. Although these coins are legal tender, they are not minted for general circulation. Each commemorative coin is produced by the United States Mint in limited quantity and is only available for a limited time. As well as commemorating important aspects of American history and culture, these coins help raise money through a surcharge that goes to organizations and projects that benefit the community. Since the modern commemorative coin program began in 1982, the United States Mint has raised more than $506 million in surcharges to help build new museums, maintain national monuments like the Vietnam War Memorial, preserve historical sites like George Washington’s home, support various Olympic programs, and much more.[1]

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[1] See “Commemorative Coin Programs,” United States Mint

Cost

A Congressional Budget Office (CBO) cost estimate is not available.

Additional Information

For questions or further information please contact John Huston with the House Republican Policy Committee by email or at 6-5539.