Haley Stevens: “I have a second bill pertaining to amateur sports I would like to present to the Senate today. This will create a…”

“I have a second bill pertaining to amateur sports I would like to present to the Senate today. This will create a recurring Olympic Commemorative Coins Program in the United States to provide valuable souvenirs to amateur sports enthusiasts, and a new source of revenue to the United States Olympic Committee, the USOC. These are sort of companion bills. The second bill would require the Secretary of the Treasury to consult with the USOC and the Citizens Commemorative Coin Advisory Committee on the design of a $1 silver coin which would commemorate each summer and winter Olympic games held outside the United States. Only 500,000 of such coins would be minted. Under the bill, a new commemorative coin would be issued every 2 years. The summer and winter Olympics are now staggered, so that, as we all know, now there is an Olympic games every 2 years. Each coin would carry a surcharge of $10 and that money would be transferred by the Secretary of the Treasury to the USOC. The Secretary of Treasury would be required to include in the sale price of each coin an additional amount to pay for the costs of the program. If the coins sell as they have in the past, and these have been very successful programs in the past, the USOC could receive a total of about $5 million for each Olympic games, in other words every 2 years. This would go a long way toward supporting our amateur athletes and carrying out our responsibilities of the Amateur Sports Act of 1978.”