Olympic Commemorative Coin Act

(Measure passed House, amended) Olympic Commemorative Coin Act - Directs the Secretary of the Treasury to issue one-dollar silver coins and ten-dollar gold coins emblematic of the 1984 Los Angeles Summer Olympic Games. Requires the Secretary to determine the designs of such coins. Requires the issuance of the silver coins in two separate designs, one in 1983 and one in 1984. Declares such coins legal tender and limits the amount issued. Requires the Secretary to obtain silver for the coins from stocks held by the Treasury or any other federally owned silver stocks. Directs the Secretary to prescribe regulations for the sale of such coins within the United States, including a surcharge per coin. Requires the Secretary to assign the rights to market such coins outside the United States to one or more marketing organizations selected by a committee consisting of the Secretary, the executive director of the United States Olympic Committee, and the President of the Los Angeles Olympic Organizing Committee. Sets forth selection criteria for such marketing organizations. Directs the Secretary to pay: (1) 50 percent of all surcharges from the sale of the coins to the United States Olympic Committee to train United States Olympic athletes, support local or community amateur athletic programs, and to erect training facilities; and (2) 50 percent of such surcharges to the Los Angeles Olympic Organizing Committee to stage and promote the games. Prohibits amounts paid to the Committees from exceeding the surcharges received by the Secretary. Requires the Secretary to enter into an implementation agreement with the marketing organization selected under this Act, which shall ensure that the issuance of the commemorative coins shall result in no net cost to the United States. Authorizes the Secretary to terminate the agreement if the termination is in the best interests of the United States. Requires deposit of all amounts received from the sale of such coins in the Coinage Profit Fund. Charges all expenditures under this Act to such Fund. Grants the Comptroller General the right to examine the records of the United States Olympic Committee and the Los Angeles Olympic Organizing Committee with respect to amounts received under this Act. Prohibits the issuance of coins under this Act unless the Secretary has received full payment for them. Requires the Secretary to report to Congress not later than 45 days after each calendar quarter on the activities carried out under this Act during such quarter. Terminates such requirement after December 31, 1985.

(Reported to House from the Committee on Banking, Finance and Urban Affairs with amendment, H. Rept. 97-554) Olympic Coin Act of 1982 - Provides for the minting of commemorative coins to honor and commemorate the 1984 Los Angeles Olympic games. Requires the Secretary of the Treasury to determine the designs of such coins. Declares the coins legal tender and terminates their minting after December 31, 1984. Sets forth minting specifications. Authorizes the Secretary to enter into an agreement with the Los Angeles Olympic Organizing Committee which shall provide for the implementation of the purposes of this Act. Directs the Secretary to furnish such coins to the Los Angeles Olympic Organizing Committee at a price agreed to pursuant to such implementation agreement. Provides that all coins minted shall be delivered to the Los Angeles Olympic Organizing Committee for distribution and sale to the public in accordance with the terms of the implementation agreement. Sets the delivery date for each series of coins. Requires the implementation agreement to ensure that the minting of the commemorative coins results in no net cost to the Federal Government. Authorizes the Secretary to terminate the agreement if the termination is in the best interests of the United States. Sets forth procedures and criteria for the committee to follow in selecting a marketing organization for such coins. Authorizes the Secretary to implement as many provisions of this Act as deemed in the best interests of the United States, in the event that no marketing organization is found acceptable. States that proceeds received by the Los Angeles Olympic Organizing Committee from the commercial sale of such coins shall be used for the purpose of staging and promoting the 1984 Los Angeles Olympic Games and assisting the U.S. Olympic Committee and amateur athletics. Requires the organizing committee, on and after March 31, 1985, to remit all amounts received from the disposition of the coins to the U.S. Olympic Committee. Prohibits deduction of amounts derived from the disposition of such coins as charitable contributions for purposes of the Internal Revenue Code of 1954. Requires the organizing committee to pay the Secretary in advance such sums as are necessary to carry out the provisions of this Act. Establishes a trust fund for the deposit of sums advanced under such Act. Requires the Secretary to report to Congress not later than 45 days after the end of each calendar quarter on the disposition of the coins minted during such quarter. Sets forth recordkeeping requirements for all parties governed by this Act and authorizes the Comptroller General to audit all such records. Exempts any contract entered into under this Act from Federal procurement or public contract laws. Prohibits the numismatic customer list maintained by the Bureau of the Mint from being used by any marketing organization.

(Measure passed Senate, amended) Olympic Coin Act of 1981 - Declares the purposes of this Act to be: (1) to provide for the minting of coins to commemorate the 1984 Los Angeles Olympic Games; and (2) to help finance those games without the use of tax revenues. Directs the Secretary of the Treasury to mint: (1) not more than 25,000,000 copper-nickel clad coins with a face value of one dollar; (2) not more than 22,400,000 silver coins with a face value of ten dollars; (3) not more than 2,400,000 gold coins with a face value of fifty dollars; and (4) not more than 1,600,000 gold coins with a face value of one hundred dollars. Specifies the size and weight of such coins. Specifies that the designs of such coins shall be determined by the Secretary in consultation with the Los Angeles Olympic Organizing Committee. Sets certain minting specifications for such coins. Authorizes the Secretary to reduce the number of designs for each series of coins under specified conditions. Requires that the aggregate face value of all such coins shall be no more than $425,000,000. Requires the Los Angeles Olympic Organizing Committee to solicit bids from marketing organizations for an exclusive world wide marketing agreement. Sets forth the criteria to be used for the selection of such marketing organization. Prohibits the Secretary from implementing the provisions of this Act unless the marketing selection process was conducted in accordance with such criteria. Authorizes the Secretary to enter into an agreement with the Los Angeles Olympic Organizing Committee which shall provide for the implementation of the purposes of this Act. Authorizes the Secretary to terminate such agreement under specified conditions. Directs the Secretary to furnish such coins to the Los Angeles Olympic Organizing Committee at a price agreed to pursuant to such implementation agreement. Provides that all coins minted shall be delivered to the Los Angeles Olympic Organizing Committee for distribution and sale to the public in accordance with the terms of the implementation agreement. Sets the delivery date for each series of coins. Provides that all proceeds received by the Los Angeles Olympic Organizing Committee from the commercial sale of such coins shall be used for the purpose of staging and promoting the 1984 Los Angeles Olympic Games and assisting the U.S. Olympic Committee and amateur athletics. Provides that all coins authorized by this Act shall be legal tender. Directs that no coins shall be minted pursuant to this Act after December 31, 1984. Requires the Secretary to submit quarterly reports to the Congress concerning the sale of such coins. Specifies that funds received from coin sales shall be used by the Los Angeles Olympic Organizing Committee only for the purposes of this Act. Authorizes the Comptroller General of the United States to examine the records of the Los Angeles Olympic Organizing Committee, the U.S. Olympic Committee or any organization which markets or distributes the coins, which relate to the use of the coins or the proceeds from the coin sales. Amends the American Arts Gold Medallion Act to require the Secretary to provide for bulk sales of gold medallions to the general public and dealers.

(Reported to Senate from the Committee on Banking, Housing and Urban Affairs with amendment, S. Rept. 97-264) Olympic Coin Act of 1981 - Declares the purposes of this Act to be: (1) to provide for the minting of coins to commemorate the 1984 Los Angeles Olympic Games; and (2) to help finance those games without the use of tax revenues. Directs the Secretary of the Treasury to mint: (1) not more than 25,000,000 copper-nickel clad coins with a face value of one dollar; (2) not more than 22,400,000 silver coins with a face value of ten dollars; (3) not more than 2,400,000 gold coins with a face value of fifty dollars; and (4) not more than 1,600,000 gold coins with a face value of one hundred dollars. Specifies the size and weight of such coins. Specifies that the designs of such coins shall be determined by the Secretary in consultation with the Los Angeles Olympic Organizing Committee. Sets certain minting specifications for such coins. Requires that the aggregate face value of all such coins shall be no more than $425,000,000. Authorizes the Secretary to enter into an agreement with the Los Angeles Olympic Organizing Committee which shall provide for the implementation of the purposes of this Act. Authorizes the Secretary to terminate such agreement under specified conditions. Directs the Secretary to furnish such coins to the Los Angeles Olympic Organizing Committee at a price agreed to pursuant to such implementation agreement. Provides that all coins minted shall be delivered to the Los Angeles Olympic Organizing Committee for distribution and sale to the public in accordance with the terms of the implementation agreement. Sets the delivery date for each series of coins. Provides that all proceeds received by the Los Angeles Olympic Organizing Committee from the commercial sale of such coins shall be used for the purpose of staging and promoting the 1984 Los Angeles Olympic Games and assisting the U.S. Olympic Committee and amateur athletics. Provides that all coins authorized by this Act shall be legal tender. Directs that no coins shall be minted pursuant to this Act after December 31, 1984. Requires the Secretary to submit quarterly reports to the Congress concerning the sale of such coins. Specifies that funds received from coin sales shall be used by the Los Angeles Olympic Organizing Committee only for the purposes of this Act. Authorizes the Comptroller General of the United States to examine the records of the Los Angeles Olympic Organizing Committee, the U.S. Olympic Committee, or any organization which markets or distributes the coins, which relate to the use of the coins or the proceeds from the coin sales. Amends the American Arts Gold Medallion Act to require the Secretary to provide for bulk sales of gold medallions to the general public and dealers.

Olympic Coin Act of 1981 - Declares the purposes of this Act to be: (1) to provide for the minting of coins to commemorate the 1984 Los Angeles Olympic Games; and (2) to help finance those games without the use of tax revenues. Directs the Secretary of the Treasury to mint: (1) not more than 30,000,000 copper-nickel clad coins with a face value of one dollar; (2) not more than 22,400,000 silver coins with a face value of ten dollars; (3) not more than 2,400,000 gold coins with a face value of fifty dollars; and (4) not more than 1,600,000 gold coins with a face value of one hundred dollars. Specifies the size and weight of such coins. Specifies that the designs of such coins shall be determined by the Secretary in consultation with the Los Angeles Olympic Organizing Committee. Sets certain minting specifications for such coins. Authorizes the Secretary to enter into an agreement with the Los Angeles Olympic Organizing Committee which shall provide for the implementation of the purposes of this Act. Directs the Secretary to furnish such coins to the Los Angeles Olympic Organizing Committee at a price agreed to pursuant to such implementation agreement. Provides that all coins minted shall be delivered to the Los Angeles Olympic Organizing Committee for distribution and sale to the public in accordance with the terms of the implementation agreement. Sets the delivery date for each series of coins. Provides that all proceeds received by the Los Angeles Olympic Organizing Committee from the commercial sale of such coins shall be used for the purpose of staging and promoting the 1984 Los Angeles Olympic Games and assisting the U.S. Olympic Committee and amateur athletics. Provides that all coins authorized by this Act shall be legal tender. Directs that no coins shall be minted pursuant to this Act after December 31, 1984.