LA28 Olympic and Paralympic Games Commemorative Coin Act
Impact
The act will have a notable impact regarding funding the event and promoting inclusivity. It establishes that the revenue generated from the sale of these coins—combined with surcharges—will aid the United States Olympic and Paralympic Properties in executing the Games and facilitating legacy programs, including those aimed at promoting youth sports. This initiative is seen as a means to create a unified plan for commemorating the 80th anniversary of the Paralympic Games while also contributing to social initiatives for individuals with disabilities.
Summary
House Bill 1794, known as the 'LA28 Olympic and Paralympic Games Commemorative Coin Act', aims to commemorate the upcoming 2028 Olympic and Paralympic Games to be held in Los Angeles, California. This legislation mandates the Secretary of the Treasury to mint and issue a set of commemorative coins to celebrate this significant sporting event, which will be the first time the Olympic and Paralympic Games have been held in the United States since 1996. The bill outlines specifications for various coins, including gold, silver, and clad options, and emphasizes the importance of marketing and educational programs to promote these coins.
Contention
Despite its celebratory nature, some points of contention may arise regarding the practicality of funding through coin sales in a private funding model, as is customary with Olympic Games in the U.S. Critics may express concerns about the effectiveness of the commemorative program, questioning if it can genuinely generate substantial revenue and public interest to support the Games. Additionally, the specifics around the design of the coins and the selection process could also become focal points for debate among stakeholders involved in the Games' organization.
An act to add Section 8591.6.5 to the Government Code, and to add and repeal Section Sections 830.45 and 13519.16 of the Penal Code, relating to state government.