Collapse to view only § 5132. Administrative
- § 5131. Organization
- § 5132. Administrative
- § 5133. Settlement of accounts
- § 5134. Numismatic Public Enterprise Fund
- § 5135. Citizens Coinage Advisory Committee
- § 5136. United States Mint Public Enterprise Fund
§ 5131. Organization
(a) The United States Mint has—
(1) a United States mint at Philadelphia, Pennsylvania.
(2) a United States mint at Denver, Colorado.
(3) a United States mint at West Point, New York.
(4) a United States mint at San Francisco, California.
(b) The Secretary of the Treasury shall carry out duties and powers related to refining and assaying bullion, minting coins, striking medals, and numismatic items at the mints. However, until the Secretary decides that the mints are adequate for minting and striking an ample supply of coins and medals, the Secretary may use any facility of the United States Mint to mint coins and strike medals and to store coins and medals.
(c) Laws on mints, officers and employees of mints, and punishment of offenses related to mints and minting coins apply to assay offices, as applicable.
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 988; Pub. L. 100–274, § 2(a)–(c)(2), Mar. 31, 1988, 102 Stat. 48; Pub. L. 102–390, title II, §§ 224, 225(b)(3), (4), Oct. 6, 1992, 106 Stat. 1629; Pub. L. 104–208, div. A, title I, § 101(f) [title V, §§ 503, 522], Sept. 30, 1996, 110 Stat. 3009–314, 3009–344, 3009–347; Pub. L. 104–329, title III, § 304, Oct. 20, 1996, 110 Stat. 4015.)
§ 5132. Administrative
(a)
(1) Except as provided in this chapter, the Secretary of the Treasury shall deposit in the Treasury as miscellaneous receipts amounts the Secretary receives from the operations of the United States Mint. Expenditures made from appropriated funds which are subsequently determined to be properly chargeable to the Numismatic Public Enterprise Fund established by section 5134 shall be reimbursed by such Fund to the appropriation. The Secretary shall annually sell to the public, directly and by mail, sets of uncirculated and proof coins minted under paragraphs (1) through (6) of section 5112(a) of this title, and shall solicit such sales through the use of the customer list of the United States Mint. Except with respect to amounts deposited in the Numismatic Public Enterprise Fund in accordance with section 5134, the Secretary may not use amounts the Secretary receives from profits on minting coins or from charges on gold or silver bullion under section 5122 to pay officers and employees.
(2)
(A) In addition to the coins described in paragraph (1), the Secretary shall sell annually to the public directly and by mail, sets of proof coins minted under paragraphs (1) through (6) of section 5112(a).
(B) Notwithstanding any other provision of law, for purposes of this paragraph—
(i) the coins described in paragraphs (2) through (4) of section 5112(a) shall be made of an alloy of not less than 90 percent silver; and
(ii) all coins minted under this paragraph shall have a mint mark indicating the place of manufacture.
(C) All coins minted under this paragraph shall be considered to be—
(i) numismatic items for purposes of paragraph (1) and section 5111(a)(3); and
(ii) legal tender, as provided in section 5103.
(D) The Secretary shall obtain silver for coins minted under this paragraph by purchase from stockpiles established under the Strategic and Critical Materials Stock Piling Act (50 U.S.C. 98 et seq.). At such time as the silver stockpile is depleted, the Secretary shall obtain silver for such coins by purchase of silver mined from natural deposits in the United States or in a territory or possession of the United States not more than 1 year following the month in which the ore from which it is derived was mined. The Secretary shall pay not more than the average world price for such silver. The Secretary may issue such regulations as may be necessary to carry out this subparagraph.
(3) Not more than $54,208,000 may be appropriated to the Secretary for the fiscal year ending on September 30, 1993, to pay costs of the mints. Not more than $965,000 of amounts appropriated pursuant to the preceding sentence shall remain available until expended for research and development.
(b) To the extent the Secretary decides is necessary, the Secretary may use amounts received from depositors for refining bullion and the proceeds from the sale of byproducts (including spent acids from surplus bullion recovered in refining processes) to pay the costs of refining the bullion (including labor, material, waste, and loss on the sale of sweeps). The Secretary may not use amounts appropriated for the mints to pay those costs.
(c) The Secretary shall make an annual report at the end of each fiscal year on the operation of the United States Mint.
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 988; Pub. L. 97–452, § 1(21), Jan. 12, 1983, 96 Stat. 2477; Pub. L. 98–151, § 123, Nov. 14, 1983, 97 Stat. 979; Pub. L. 98–216, § 1(7), Feb. 14, 1984, 98 Stat. 4; Pub. L. 99–61, title II, § 204, July 9, 1985, 99 Stat. 116; Pub. L. 99–185, § 2(e), Dec. 17, 1985, 99 Stat. 1178; Pub. L. 100–274, §§ 1, 2(c)(3), Mar. 31, 1988, 102 Stat. 48; Pub. L. 101–585, § 2, Nov. 15, 1990, 104 Stat. 2874; Pub. L. 102–390, title II, §§ 211, 221(c)(1), 225(b)(3), (4), Oct. 6, 1992, 106 Stat. 1624, 1628, 1629; Pub. L. 106–445, § 2(a), Nov. 6, 2000, 114 Stat. 1931; Pub. L. 114–94, div. G, title LXXIII, § 73001(2), Dec. 4, 2015, 129 Stat. 1786.)
§ 5133. Settlement of accounts
(a) The Secretary of the Treasury shall—
(1) charge the superintendent of each mint with the amount in weight of standard metal of bullion the superintendent receives from the Secretary;
(2) credit each superintendent with the amount in weight of coins, clippings, and other bullion the superintendent returns to the Secretary; and
(3) charge separately to each superintendent, who shall account for, copper to be used in the alloy of gold and silver bullion.
(b)Settlement of Accounts.—
(1)In general.—At least once each year, the Secretary of the Treasury shall settle the accounts of the superintendents of the mints.
(2)Procedure.—At any settlement under this subsection, the superintendent shall—
(A) return to the Secretary any coin, clipping, or other bullion in the possession of the superintendent; and
(B) present the Secretary with a statement of bullion received and returned since the last settlement (including any bullion returned for settlement).
(3)Audit.—The Secretary shall—
(A) audit the accounts of each superintendent; and
(B) allow each superintendent the waste of precious metals that the Secretary determines is necessary—
(i) for refining and minting (within the limitations which the Secretary shall prescribe); and
(ii) for casting fine gold and silver bars (within the limit prescribed for refining), except that any waste allowance under this clause may not apply to deposit operations.
(c) After settlement, the Secretary shall compare the amount of gold and silver bullion and coins on hand with the total liabilities of the mints. The Secretary also shall make a statement of the ordinary expense account.
(d) The Secretary shall procure for each mint a series of standard weights corresponding to the standard troy pound of the National Institute of Standards and Technology of the Department of Commerce. The series shall include a one pound weight and multiples and subdivisions of one pound from .01 grain to 25 pounds. At least once a year, the Secretary shall test the weights normally used in transactions at the mints against the standard weights.
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 989; Pub. L. 100–274, § 2(c)(4)–(7), (9), (10), Mar. 31, 1988, 102 Stat. 49; Pub. L. 100–418, title V, § 5115(c), Aug. 23, 1988, 102 Stat. 1433.)
§ 5134. Numismatic Public Enterprise Fund
(a)Definitions.—For purposes of this section—
(1)Fund.—The term “Fund” means the Numismatic Public Enterprise Fund.
(2)Mint.—The term “Mint” means the United States Mint.
(3)Numismatic item.—The term “numismatic item” means any medal, proof coin, uncirculated coin, bullion coin, or other coin specifically designated by statute as a numismatic item, including products and accessories related to any such medal, coin, or item.
(4)Numismatic operations and programs.—The term “numismatic operations and programs”—
(A) means the activities concerning, and assets utilized in, the production, administration, sale, and management of numismatic items and the Numismatic Public Enterprise Fund; and
(B) includes capital, personnel salaries, functions relating to operations, marketing, distribution, promotion, advertising, and official reception and representation, the acquisition or replacement of equipment, and the renovation or modernization of facilities (other than the construction or acquisition of new buildings).
(5)Secretary.—The term “Secretary” means the Secretary of the Treasury.
(b)Establishment of Fund.—There is hereby established in the Treasury of the United States a revolving Numismatic Public Enterprise Fund consisting of amounts deposited in the fund 1
1 So in original. Probably should be capitalized.
under subsection (c)(2) of this section or section 221(b) of the United States Mint Reauthorization and Reform Act of 1992 which shall be available to the Secretary for numismatic operations and programs of the United States Mint without fiscal year limitation.(c)Operations of the Fund.—
(1)Payment of expenses.—Any expense incurred by the Secretary for numismatic operations and programs which the Secretary determines, in the Secretary’s sole discretion, to be ordinary and reasonable incidents of the numismatic business shall be paid out of the Fund, including any expense incurred pursuant to any obligation or other commitment of Mint numismatic operations and programs which was entered into before the beginning of fiscal year 1993.
(2)Deposit of receipts.—All receipts from numismatic operations and programs shall be deposited into the Fund, including amounts attributable to any surcharge imposed with respect to the sale of any numismatic item.
(3)Transfer of seigniorage.—The Secretary shall transfer monthly from the Fund to the general fund of the Treasury an amount equal to the total amount on the seigniorage of numismatic items sold since the date of any preceding transfer.
(4)Transfer of excess amounts to the treasury.—
(A)In general.—At such times as the Secretary determines to be appropriate, the Secretary shall transfer any amount in the Fund which the Secretary determines to be in excess of the amount required by the Fund to the Treasury for deposit as miscellaneous receipts.
(B)Report to congress.—The Secretary shall submit an annual report to the Congress containing—
(i) a statement of the total amount transferred to the Treasury pursuant to subparagraph (A) during the period covered by the report;
(ii) a statement of the amount by which the amount on deposit in the Fund at the end of the period covered by the report exceeds the estimated operating costs of the Fund for the 1-year period beginning at the end of such period; and
(iii) an explanation of the specific purposes for which such excess amounts are being retained in the Fund.
(d)Budget Treatment.—
(1)In general.—The Secretary shall prepare budgets for the Fund, and estimates and statements of financial condition of the Fund in accordance with the requirements of section 9103 which shall be submitted to the President for inclusion in the budget submitted under section 1105.
(2)Inclusion in annual report.—Statements of the financial condition of the Fund shall be included in the Secretary’s annual report on the operation of the Mint.
(3)Treatment as wholly owned government corporation for certain purposes.—Section 9104 shall apply to the Fund to the same extent such section applies to wholly owned Government corporations.
(e)Financial Statements, Audits, and Reports.—
(1)Annual financial statement required.—By the end of each calendar year, the Secretary shall prepare an annual financial statement of the Fund for the fiscal year which ends during such calendar year.
(2)Contents of financial statement.—Each statement prepared pursuant to paragraph (1) shall, at a minimum, contain—
(A) the overall financial position (including assets and liabilities) of the Fund as of the end of the fiscal year;
(B) the results of the numismatic operations and programs of the Fund during the fiscal year;
(C) the cash flows or the changes in financial position of the Fund;
(D) a reconciliation of the financial statement to the budget reports of the Fund; and
(E) a supplemental schedule detailing—
(i) the costs and expenses for the production, for the marketing, and for the distribution of each denomination of circulating coins produced by the Mint during the fiscal year and the per-unit cost of producing, of marketing, and of distributing each denomination of such coins; and
(ii) the gross revenue derived from the sales of each such denomination of coins.
(3)Annual audits.—
(A)In general.—Each annual financial statement prepared under paragraph (1) shall be audited—
(i) by—(I) an independent external auditor; or(II) the Inspector General of the Department of the Treasury,
as designated by the Secretary; and
(ii) in accordance with the generally accepted Government auditing standards issued by the Comptroller General of the United States.
(B)Auditor’s report required.—The auditor designated to audit any financial statement of the Fund pursuant to subparagraph (A) shall submit a report—
(i) to the Secretary by March 31 of the year beginning after the end of the fiscal year covered by such financial statement; and
(ii) containing the auditor’s opinion on—(I) the financial statement of the Fund;(II) the internal accounting and administrative controls and accounting systems of the Fund; and(III) the Fund’s compliance with applicable laws and regulations.
(4)Annual report on fund.—
(A)Report required.—By April 30 of each year, the Secretary shall submit a report on the Fund for the most recently completed fiscal year to the President, the Congress, and the Director of the Office of Management and Budget.
(B)Contents of annual report.—The annual report required under subparagraph (A) for any fiscal year shall include—
(i) the financial statement prepared under paragraph (1) for such fiscal year;
(ii) the audit report submitted to the Secretary pursuant to paragraph (3)(B) for such fiscal year;
(iii) a description of activities carried out during such fiscal year;
(iv) a summary of information relating to numismatic operations and programs contained in the reports on systems on internal accounting and administrative controls and accounting systems submitted to the President and the Congress under section 3512(c);
(v) a summary of the corrective actions taken with respect to material weaknesses relating to numismatic operations and programs identified in the reports prepared under section 3512(c);
(vi) any other information the Secretary considers appropriate to fully inform the Congress concerning the financial management of the Fund; and
(vii) a statement of the total amount of excess funds transferred to the Treasury.
(5)Marketing report.—
(A)Report required for 10 years.—For each fiscal year beginning before fiscal year 2003, the Secretary shall submit an annual report on all marketing activities and expenses of the Fund to the Congress before the end of the 3-month period beginning at the end of such fiscal year.
(B)Contents of report.—The report submitted pursuant to subparagraph (A) shall contain a detailed description of—
(i) the sources of income including surcharges; and
(ii) expenses incurred for manufacturing, materials, overhead, packaging, marketing, and shipping.
(f)Conditions on Payment of Surcharges to Recipient Organizations.—
(1)Payment of surcharges.—
(A)In general.—
(i) all numismatic operation and program costs allocable to the program under which such numismatic item is produced and sold have been recovered; and
(ii) the designated recipient organization submits an audited financial statement that demonstrates, to the satisfaction of the Secretary, that, with respect to all projects or purposes for which the proceeds of such surcharge may be used, the organization has raised funds from private sources for such projects and purposes in an amount that is equal to or greater than the total amount of the proceeds of such surcharge derived from the sale of such numismatic item.
(B)Unpaid amounts.—If any amount derived from the proceeds of any surcharge imposed on the sale of any numismatic item that may otherwise be paid from the fund,1 under any provision of law relating to such numismatic item, to any designated recipient organization remains unpaid to such organization solely by reason of the matching fund requirement contained in subparagraph (A)(ii) after the end of the 2-year period beginning on the later of—
(i) the last day any such numismatic item is issued by the Secretary; or
(ii) the date of the enactment of the American 5-Cent Coin Design Continuity Act of 2003,
such unpaid amount shall be deposited in the Treasury as miscellaneous receipts.
(2)Annual audits.—
(A)Annual audits of recipients required.—Each designated recipient organization that receives any payment from the fund 1 of any amount derived from the proceeds of any surcharge imposed on the sale of any numismatic item shall provide, as a condition for receiving any such amount, for an annual audit, in accordance with generally accepted government auditing standards by an independent public accountant selected by the organization, of all such payments to the organization beginning in the first fiscal year of the organization in which any such amount is received and continuing until all amounts received by such organization from the fund 1 with respect to such surcharges are fully expended or placed in trust.
(B)Minimum requirements for annual audits.—At a minimum, each audit of a designated recipient organization pursuant to subparagraph (A) shall report—
(i) the amount of payments received by the designated recipient organization from the fund 1 during the fiscal year of the organization for which the audit is conducted that are derived from the proceeds of any surcharge imposed on the sale of any numismatic item;
(ii) the amount expended by the designated recipient organization from the proceeds of such surcharges during the fiscal year of the organization for which the audit is conducted; and
(iii) whether all expenditures by the designated recipient organization during the fiscal year of the organization for which the audit is conducted from the proceeds of such surcharges were for authorized purposes.
(C)Responsibility of organization to account for expenditures of surcharges.—Each designated recipient organization that receives any payment from the fund 1 of any amount derived from the proceeds of any surcharge imposed on the sale of any numismatic item shall take appropriate steps, as a condition for receiving any such payment, to ensure that the receipt of the payment and the expenditure of the proceeds of such surcharge by the organization in each fiscal year of the organization can be accounted for separately from all other revenues and expenditures of the organization.
(D)Submission of audit report.—Not later than 90 days after the end of any fiscal year of a designated recipient organization for which an audit is required under subparagraph (A), the organization shall—
(i) submit a copy of the report to the Secretary of the Treasury; and
(ii) make a copy of the report available to the public.
(E)Use of surcharges for audits.—Any designated recipient organization that receives any payment from the fund 1 of any amount derived from the proceeds of any surcharge imposed on the sale of any numismatic item may use the amount received to pay the cost of an audit required under subparagraph (A).
(F)Waiver of paragraph.—The Secretary of the Treasury may waive the application of any subparagraph of this paragraph to any designated recipient organization for any fiscal year after taking into account the amount of surcharges that such organization received or expended during such year.
(G)Nonapplicability to federal entities.—This paragraph shall not apply to any Federal agency or department or any independent establishment in the executive branch that receives any payment from the fund 1 of any amount derived from the proceeds of any surcharge imposed on the sale of any numismatic item.
(H)Availability of books and records.—An organization that receives any payment from the fund 1 of any amount derived from the proceeds of any surcharge imposed on the sale of any numismatic item shall provide, as a condition for receiving any such payment, to the Inspector General of the Department of the Treasury or the Comptroller General of the United States, upon the request of such Inspector General or the Comptroller General, all books, records, and work papers belonging to or used by the organization, or by any independent public accountant who audited the organization in accordance with subparagraph (A), which may relate to the receipt or expenditure of any such amount by the organization.
(3)Use of agents or attorneys to influence commemorative coin legislation.—No portion of any payment from the fund 1 to any designated recipient organization of any amount derived from the proceeds of any surcharge imposed on the sale of any numismatic item may be used, directly or indirectly, by the organization to compensate any agent or attorney for services rendered to support or influence in any way legislative action of the Congress relating to such numismatic item.
(4)Designated recipient organization defined.—For purposes of this subsection, the term “designated recipient organization” means any organization designated, under any provision of law, as the recipient of any surcharge imposed on the sale of any numismatic item.
(g)Quarterly Financial Reports.—
(1)In general.—Not later than the 30th day of each month following each calendar quarter through and including the final period of sales with respect to any commemorative coin program authorized on or after the date of enactment of the Treasury, Postal Service, and General Government Appropriations Act, 1997, the Mint shall submit to the Congress a quarterly financial report in accordance with this subsection.
(2)Requirements.—Each report submitted under paragraph (1) shall include, with respect to the calendar quarter at issue—
(A) a detailed financial statement, prepared in accordance with generally accepted accounting principles, that includes financial information specific to that quarter, as well as cumulative financial information relating to the entire program;
(B) a detailed accounting of—
(i) all costs relating to marketing efforts;
(ii) all funds projected for marketing use;
(iii) all costs for employee travel relating to the promotion of commemorative coin programs;
(iv) all numismatic items minted, sold, not sold, and rejected during the production process; and
(v) the costs of melting down all rejected and unsold products;
(C) adequate market-based research for all commemorative coin programs; and
(D) a description of the efforts of the Mint in keeping the sale price of numismatic items as low as practicable.
(Added Pub. L. 102–390, title II, § 221(a), Oct. 6, 1992, 106 Stat. 1624; amended Pub. L. 104–208, div. A, title I, § 101(f) [title V, § 529(b)(1), (2), (c)], Sept. 30, 1996, 110 Stat. 3009–314, 3009–349, 3009–350, 3009–352; Pub. L. 106–445, § 3, Nov. 6, 2000, 114 Stat. 1931; Pub. L. 108–15, title I, § 103(d)(2), title II, § 201(a), Apr. 23, 2003, 117 Stat. 619.)
§ 5135. Citizens Coinage Advisory Committee
(a)Establishment.—
(1)In general.—There is hereby established the Citizens Coinage Advisory Committee (in this section referred to as the “Advisory Committee”) to advise the Secretary of the Treasury on the selection of themes and designs for coins.
(2)Oversight of advisory committee.—The Advisory Committee shall be subject to the authority of the Secretary of the Treasury (hereafter in this section referred to as the “Secretary”).
(b)Membership.—
(1)Appointment.—The Advisory Committee shall consist of 11 members appointed by the Secretary as follows:
(A) Seven persons appointed by the Secretary—
(i) one of whom shall be appointed from among individuals who are specially qualified to serve on the Advisory Committee by virtue of their education, training, or experience as a nationally or internationally recognized curator in the United States of a numismatic collection;
(ii) one of whom shall be appointed from among individuals who are specially qualified to serve on the Advisory Committee by virtue of their experience in the medallic arts or sculpture;
(iii) one of whom shall be appointed from among individuals who are specially qualified to serve on the Advisory Committee by virtue of their education, training, or experience in American history;
(iv) one of whom shall be appointed from among individuals who are specially qualified to serve on the Advisory Committee by virtue of their education, training, or experience in numismatics; and
(v) three of whom shall be appointed from among individuals who can represent the interests of the general public in the coinage of the United States.
(B) Four persons appointed by the Secretary on the basis of the recommendations of the following officials who shall make the selection for such recommendation from among citizens who are specially qualified to serve on the Advisory Committee by virtue of their education, training, or experience:
(i) One person recommended by the Speaker of the House of Representatives.
(ii) One person recommended by the minority leader of the House of Representatives.
(iii) One person recommended by the majority leader of the Senate.
(iv) One person recommended by the minority leader of the Senate.
(2)Terms.—
(A)In general.—Except as provided in subparagraph (B), members of the Advisory Committee shall be appointed for a term of 4 years.
(B)Terms of initial appointees.—As designated by the Secretary at the time of appointment, of the members first appointed—
(i) four of the members appointed under paragraph (1)(A) shall be appointed for a term of 4 years;
(ii) the four members appointed under paragraph (1)(B) shall be appointed for a term of 3 years; and
(iii) three of the members appointed under paragraph (1)(A) shall be appointed for a term of 2 years.
(3)Preservation of public advisory status.—No individual may be appointed to the Advisory Committee while serving as an officer or employee of the Federal Government.
(4)Continuation of service.—Each appointed member may continue to serve for up to 6 months after the expiration of the term of office to which such member was appointed until a successor has been appointed.
(5)Vacancy and removal.—
(A)In general.—Any vacancy on the Advisory Committee shall be filled in the manner in which the original appointment was made.
(B)Removal.—Advisory Committee members shall serve at the discretion of the Secretary and may be removed at any time for good cause.
(6)Chairperson.—The Chairperson of the Advisory Committee shall be appointed for a term of 1 year by the Secretary from among the members of the Advisory Committee.
(7)Pay and expenses.—Members of the Advisory Committee shall serve without pay for such service but each member of the Advisory Committee shall be reimbursed from the United States Mint Public Enterprise Fund for travel, lodging, meals, and incidental expenses incurred in connection with attendance of such members at meetings of the Advisory Committee in the same amounts and under the same conditions as employees of the United States Mint who engage in official travel, as determined by the Secretary.
(8)Meetings.—
(A)In general.—The Advisory Committee shall meet at the call of the Secretary, the chairperson, or a majority of the members, but not less frequently than twice annually.
(B)Open meetings.—Each meeting of the Advisory Committee shall be open to the public.
(C)Prior notice of meetings.—Timely notice of each meeting of the Advisory Committee shall be published in the Federal Register, and timely notice of each meeting shall be made to trade publications and publications of general circulation.
(9)Quorum.—Seven members of the Advisory Committee shall constitute a quorum.
(c)Duties of the Advisory Committee.—The duties of the Advisory Committee are as follows:
(1) Advising the Secretary of the Treasury on any theme or design proposals relating to circulating coinage, bullion coinage, congressional gold medals and national and other medals produced by the Secretary of the Treasury in accordance with section 5111 of title 31, United States Code.
(2) Advising the Secretary of the Treasury with regard to—
(A) the events, persons, or places that the Advisory Committee recommends be commemorated by the issuance of commemorative coins in each of the 5 calendar years succeeding the year in which a commemorative coin designation is made;
(B) the mintage level for any commemorative coin recommended under subparagraph (A); and
(C) the proposed designs for commemorative coins.
(d)Expenses.—The expenses of the Advisory Committee that the Secretary of the Treasury determines to be reasonable and appropriate shall be paid by the Secretary from the United States Mint Public Enterprise Fund.
(e)Administrative Support, Technical Services, and Advice.—Upon the request of the Advisory Committee, or as necessary for the Advisory Committee to carry out the responsibilities of the Advisory Committee under this section, the Director of the United States Mint shall provide to the Advisory Committee the administrative support, technical services, and advice that the Secretary of the Treasury determines to be reasonable and appropriate.
(f)Consultation Authority.—In carrying out the duties of the Advisory Committee under this section, the Advisory Committee may consult with the Commission of Fine Arts.
(g)Annual Report.—
(1)Required.—Not later than September 30 of each year, the Advisory Committee shall submit a report to the Secretary, the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate. Should circumstances arise in which the Advisory Committee cannot meet the September 30 deadline in any year, the Secretary shall advise the Chairpersons of the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate of the reasons for such delay and the date on which the submission of the report is anticipated.
(2)Contents.—The report required by paragraph (1) shall describe the activities of the Advisory Committee during the preceding year and the reports and recommendations made by the Advisory Committee to the Secretary of the Treasury.
(h)Chapter 10 of Title 5 Does Not Apply.—Subject to the requirements of subsection (b)(8), chapter 10 of title 5 shall not apply with respect to the Committee.
(Added Pub. L. 102–390, title II, § 229(a), Oct. 6, 1992, 106 Stat. 1631; amended Pub. L. 104–208, div. A, title I, § 101(f) [title V, § 529(d)], Sept. 30, 1996, 110 Stat. 3009–314, 3009–352; Pub. L. 104–329, title III, § 303(a), Oct. 20, 1996, 110 Stat. 4014; Pub. L. 108–15, title I, § 103(a), Apr. 23, 2003, 117 Stat. 616; Pub. L. 117–286, § 4(a)(196), Dec. 27, 2022, 136 Stat. 4327.)
§ 5136. United States Mint Public Enterprise Fund
There shall be established in the Treasury of the United States, a United States Mint Public Enterprise Fund (the “Fund”) for fiscal year 1996 and hereafter: Provided, That all receipts from Mint operations and programs, including the production and sale of numismatic items, the production and sale of circulating coinage, the protection of Government assets, and gifts and bequests of property, real or personal shall be deposited into the Fund and shall be available without fiscal year limitations: Provided further, That all expenses incurred by the Secretary of the Treasury for operations and programs of the United States Mint that the Secretary of the Treasury determines, in the Secretary’s sole discretion, to be ordinary and reasonable incidents of Mint operations and programs, and any expense incurred pursuant to any obligation or other commitment of Mint operations and programs that was entered into before the establishment of the Fund, shall be paid out of the Fund: Provided further, That not to exceed 6.2415 percent of the nominal value of the coins minted, shall be paid out of the Fund for the circulating coin operations and programs in fiscal year 1996 for those operations and programs previously provided for by appropriation: Provided further, That the Secretary of the Treasury may borrow such funds from the General Fund as may be necessary to meet existing liabilities and obligations incurred prior to the receipt of revenues into the Fund: Provided further, That the General Fund shall be reimbursed for such funds by the Fund within one year of the date of the loan: Provided further, That the Fund may retain receipts from the Federal Reserve System from the sale of circulating coins at face value for deposit into the Fund (retention of receipts is for the circulating operations and programs): Provided further, That the Secretary of the Treasury shall transfer to the Fund all assets and liabilities of the Mint operations and programs, including all Numismatic Public Enterprise Fund assets and liabilities, all receivables, unpaid obligations and unobligated balances from the Mint’s appropriation, the Coinage Profit Fund, and the Coinage Metal Fund, and the land and buildings of the Philadelphia Mint, Denver Mint, and the Fort Knox Bullion Depository: Provided further, That the Numismatic Public Enterprise Fund, the Coinage Profit Fund and the Coinage Metal Fund shall cease to exist as separate funds as their activites 1
1 So in original. Probably should be “activities”.
and functions are subsumed under and subject to the Fund, and the requirements of 31 USC 22 So in original. Probably should be “U.S.C.”
5134(c)(4), (c)(5)(B), and (d) and (e) 33 See References in Text note below.
of the Numismatic Public Enterprise Fund shall apply to the Fund: Provided further, That at such times as the Secretary of the Treasury determines appropriate, but not less than annually, any amount in the Fund that is determined to be in excess of the amount required by the Fund shall be transferred to the Treasury for deposit as miscellaneous receipts: Provided further, That the term “Mint operations and programs” means (1) the activities concerning, and assets utilized in, the production, administration, distribution, marketing, purchase, sale, and management of coinage, numismatic items, the protection and safeguarding of Mint assets and those non-Mint assets in the custody of the Mint, and the Fund; and (2) includes capital, personnel salaries and compensation, functions relating to operations, marketing, distribution, promotion, advertising, official reception and representation, the acquisition or replacement of equipment, the renovation or modernization of facilities, and the construction or acquisition of new buildings: Provided further, That the term “numismatic item” includes any medal, proof coin, uncirculated coin, bullion coin, numismatic collectible, other monetary issuances and products and accessories related to any such medal or coin: Provided further, That provisions of law governing procurement or public contracts shall not be applicable to the procurement of goods or services necessary for carrying out Mint programs and operations.(Added Pub. L. 104–52, title V, § 522, Nov. 19, 1995, 109 Stat. 494.)