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H.R.6571 - Korean Immigration Commemorative Coin Act
To require the Secretary of the Treasury to mint coins in commemoration of the 100th anniversary of the beginning of Korean immigration into the United States.
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SECTION 1. SHORT TITLE.
SEC. 2. FINDINGS.
(3) According to immigration records, in December 1902, 56 men, 21 women, and 25 children left Korea and sailed across the Pacific Ocean aboard the S.S. Gaelic, landing in Honolulu, Hawaii, on January 13, 1903.CommentsClose CommentsPermalink
(6) Korean Americans have served with distinction in the U.S. Armed Forces during every war and conflict in which the United States is or was involved from World War I through the war in the Persian Gulf and beyond.CommentsClose CommentsPermalink
(8) Korean immigrants have invigorated business, church, and academic communities throughout the United States and Korean Americans have also established themselves as important members in the medical, legal, financial, and governmental professions.CommentsClose CommentsPermalink
(9) The strategic partnership between the United States and Korea has helped undergird peace and stability in the Asian Pacific region and has provided economic benefits to not only the peoples of the United States and Korea, but to the entire world.CommentsClose CommentsPermalink
SEC. 3. COIN SPECIFICATIONS.
SEC. 4. DESIGN OF COINS.
(1) IN GENERAL- The design of the coins minted under this Act shall be emblematic of the immigration of Koreans into the United States and the significant contributions of Korean Americans to this Nation.CommentsClose CommentsPermalink
SEC. 5. ISSUANCE OF COINS.
SEC. 6. SALE OF COINS.
SEC. 7. SURCHARGES.
(b) Distribution- Subject to
(c) Audits- The Council on 100th Year Korean Immigration Commemorative Coin Act shall be subject to the audit requirements of
(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 commemorative coin programs issued during such year to exceed the annual commemorative coin program issuance limitation under
SEC. 8. FINANCIAL ASSURANCES.
(2) no funds, including applicable surcharges, are disbursed to any recipient designated in section 7 until the total cost of designing and issuing all of the coins authorized by this Act (including labor, materials, dies, use of machinery, winning design compensation, overhead expenses, marketing, and shipping) is recovered by the United States Treasury, consistent with sections 5112(m) and 5134(f) of title 31, United States Code.CommentsClose CommentsPermalink