Sec. 7. SURCHARGES

251 words·~1 min read·/statute-compilations/comps-15216/sec-7

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## SEC. 7 SURCHARGES ###

(a)In General All sales of coins minted under this Act shall include a surcharge as follows: ####

(1)A surcharge of $35 per coin for the $5 coin. ####

(2)A surcharge of $10 per coin for the $1 coin. ####

(3)A surcharge of $5 per coin for the half-dollar coin. ###

(b)Distribution Subject to section 5134(f) of title 31, United States Code, all surcharges received by the Secretary from the sale of coins issued under this Act shall be promptly paid by the Secretary to the Naismith Memorial Basketball Hall of Fame to fund an endowment that will enable increased operations and educational programming of the Naismith Memorial Basketball Hall of Fame. ###

(c)Audits The Naismith Memorial Basketball Hall of Fame shall be subject to the audit requirements of section 5134(f)(2) of title 31, United States Code, with regard to the amounts received under subsection (b). ###

(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 section 5112(m)(1) of title 31, United States Code (as in effect on the date of the enactment of this Act). The Secretary of the Treasury may issue guidance to carry out this subsection.