Page:United States Statutes at Large Volume 110 Part 4.djvu/515

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PUBLIC LAW 104-208—SEPT. 30, 1996 110 STAT. 3009 -352 in any way legislative action of the Congress relating to such numismatic item. " (4) DESIGNATED RECIPIENT ORGANIZATION DEFINED.— For purposes of this subsection, the term 'designated recipient organization' means any organization designated, under any provision of law, as the recipient of any surcharge imposed on the sale of any numismatic item.". (3) SCOPE OF APPLICATION.—The amendments made by this 31 USC 5134 section shall apply with respect to the proceeds of any surcharge °ote. imposed on the sale of any numismatic item that are deposited in the Numismatic Public Enterprise Fund after the date of the enactment of this Act. (4) REPEAL OF EXISTING RECIPIENT REPORT REQUIREMENT.— Section 303 of Public Law 103-186 (31 U.S.C. 5112 note) is repealed. (c) QUARTERLY FINANCIAL REPORTS. —Section 5134 of title 31, United States Code, is amended by adding at the end the following new subsection: "(g) QUARTERLY FINANCIAL REPORTS. — "(1) IN GENERAL.—Not later than the 30th day of each month following each calendar quarter through and including the final period of sales with respect to any commemorative coin program authorized on or after the date of enactment of the Treasury, Postal Service, and General Government Appropriations Act, 1997, the Mint shall submit to the Congress a quarterly financial report in accordance with this subsection. "(2) REQUIREMENTS. —Each report submitted under paragraph (1) shall include, with respect to the calendar quarter at issue— "(A) a detailed financial statement, prepared in accordance with generally accepted accounting principles, that includes financial information specific to that quarter, as well as cumulative financial information relating to the entire program; "(B) a detailed accounting of— "(i) all costs relating to marketing efforts; "(ii) all funds projected for marketing use; "(iii) all costs for employee travel relating to the promotion of commemorative coin programs; "(iv) all numismatic items minted, sold, not sold, and rejected during the production process; and "(v) the costs of melting down all rejected and unsold products; "(C) adequate market-based research for all commemorative coin programs; and "(D) a description of the efforts of the Mint in keeping the sale price of numismatic items as low as practicable.". (d) CITIZENS COMMEMORATIVE COIN ADVISORY COMMITTEE. — (1) FIXED TERMS FOR MEMBERS.— Section 5135(a)(4) of title 31, United States Code, is amended to read as follows: "(4) TERMS.— Each member appointed under clause (i) or (iii) of paragraph (3)(A) shall be appointed for a term of 4 years.". (2) CHAIRPERSON.— Section 5135(a) of title 31, United States Code, is amended by adding at the end the following new paragraph: " (7) CHAIRPERSON. —