H.R.1235 – Naismith Memorial Basketball Hall of Fame Commemorative Coin Act

TheWeekInCongress.com (TM)

Week ending September 29, 2017

H.R.1235 – Naismith Memorial Basketball Hall of Fame Commemorative Coin Act

Brief

The Congress finds the following:

 

(1) On December 21, 1891, a young physical education instructor named James Naismith, introduced the game of “basket ball” to his physical education class, in Springfield, Massachusetts.

(2) In 1959, the Naismith Memorial Basketball Hall of Fame was founded and dedicated to the game’s creator Dr. James Naismith, in Springfield, MA, “The Birthplace of Basketball” and became the first and only museum to honor the game at all levels around the world.

(3) The Naismith Memorial Basketball Hall of Fame honors players who have achieved greatness, exemplary coaches, referees and other major contributors to the sport of basketball. The Inaugural Hall of Fame Class of 1959 had seventeen honorees who were inducted, including Dr. James Naismith, George Mikan, Forrest C. Allen, Angelo Luisetti, Original Celtics and First Team.

(4) The Naismith Memorial Basketball Hall of Fame is recognized throughout the world as the premier institution entrusted with recording and disseminating the history of the game of basketball and recognizing and honoring the achievements of its greatest players, coaches, and contributors.

(5) The Naismith Memorial Basketball Hall of Fame provides an entertaining, enriching experience and is known for its educational outreach programs and celebrates and promotes positive core values demonstrated by basketball’s hallowed heroes and its founder.

(6) Basketball is one of America’s national treasures; with its fast pace which reflects the freedom of expression and the modern experience of life in the 21st century.

(7) Since its opening in 1959, the Naismith Memorial Basketball Hall of Fame is home to the largest collection of basketball memorabilia in the world, including more than 30,000 three-dimensional objects, 800,000 photographs, and 1.5 million documents.

(8) The Naismith Memorial Basketball Hall of Fame welcomes more than 6,000,000 visitors interested in discovering the rich history of the game through its stories, its personalities, and its most celebrated moments.

(9) The Naismith Memorial Basketball Hall of Fame reaches over seven million Americans through its educational programs, events, exhibits, social media, and its interactive website.

(10) The Naismith Memorial Basketball Hall of Fame’s customized educational programs use basketball to teach young students around the world the important lessons on a variety of topics including: financial literacy, mathematics, civil rights, leadership of character, women’s and men’s history, and geography.

(11) The Naismith Memorial Basketball Hall of Fame will lead the celebration of the 60th Anniversary of Basketball and will partner with a select group of constituents including the National Basketball Association, the National Collegiate Athletic Association, and USA Basketball in commemorating the game throughout the 2019–2020 basketball season.

Naismith Memorial Basketball Hall of Fame Commemorative Coin Act

This bill directs the Department of the Treasury to mint and issue not more than 50,000 $5 coins, 400,000 $1 coins, and 750,000 half-dollar coins in recognition and celebration of the Naismith Memorial Basketball Hall of Fame.

The coins shall be in the shape of a dome, and the design on the common reverse of the coins shall depict a basketball. Treasury shall hold a competition to determine the design of the common obverse of the coins, which shall be emblematic of the game of basketball.

The bill requires all sales of such coins to include specified surcharges, which shall be paid by Treasury to the Hall to fund an endowment for increased operations and educational programming. – crs

SponsorRep. Neal, Richard E. [D-MA-1] (Introduced 02/27/2017)

Status: Passed House /

VOTES and FLOOR ACTION

HOUSE

On Passage: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.

House Amendments:

Motion to recommit:

Text of the motion:

SENATE

On Passage:

Procedural Actions:

Senate Amendments:

COST AND IMPACT

Cost to the taxpayers:  No cost to the taxpayer as directed by law. The coins issued under this Act shall be sold by the Secretary at a price equal to the sum of—

(1) the face value of the coins;

(2) the surcharge provided in 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, winning design compensation, overhead expenses, marketing, and shipping).

Pay-as-you-go requirements:  Data not available

Regulatory and Other Impact: Data not available

Dynamic Scoring:   Data not available

Tax Complexity:  Not applicable to this bill.

Earmark Certification:  Data not available

Duplication of programs: Data not available

Direct Rule-Making:  Data not available

Advisory Committee Statement: Data not available

Budget Authority: Data not available

Constitutional Authority:   Assumed.

 

More Bill Information:

 

Copyright 2017 Legislation News & Report, LLC

All Rights Reserved