Sponsors (10)
The bill leverages commemorative coin sales to fund Erie Canalway preservation, tourism, and education and to promote historical awareness, but it raises costs for purchasers, adds administrative complexity, and may delay or limit disbursements until full cost recovery is achieved.
Nonprofits, local communities, and small businesses near the Erie Canal will receive a dedicated surcharge-funded revenue stream to support preservation, recreation, tourism, and education tied to the Erie Canalway Corridor.
Students, educators, and the general public gain increased awareness and educational resources about the Erie Canal through congressional recognition and coin designs that highlight its historical role.
Collectors, numismatists, and hobbyists gain new commemorative coins (various metals, uncirculated and proof versions) and a short issuance window that can boost collectibility and hobby engagement.
Collectors and other buyers will pay higher prices because of explicit surcharges and the need to cover production and marketing costs, raising the cost of participation in the program.
If sales or cost-recovery are insufficient or Treasury interprets allowable costs broadly, taxpayers could indirectly bear minting, administrative, or delayed subsidy costs, creating fiscal risk and uncertainty.
Recipients (nonprofits/local projects) may face delayed or restricted funding because surcharges are withheld until Treasury recovers full costs and because of program caps that can limit when surcharges may be assessed.
Based on analysis of 8 sections of legislative text.
Authorizes the Mint to issue three Erie Canal commemorative coins, sets surcharges to fund the Erie Canalway Heritage Fund, and requires cost recovery before disbursing funds.
Introduced February 24, 2025 by Claudia Tenney · Last progress February 24, 2025
Authorizes the U.S. Mint to produce and sell three commemorative Erie Canal coins — a $5 gold coin, a $1 silver coin, and a half-dollar clad coin — with set maximum mintages and specifications. Sales include per-coin surcharges that will be paid to the Erie Canalway Heritage Fund, Inc. to support preservation, recreation, tourism, education, and community development in the Erie Canal corridor. Requires design review and consultation with advisory bodies, limits issuance to a one-year period beginning January 1, 2026, and directs the Treasury to set prices to cover face value, a surcharge, and all production costs; no surcharge payments are made until the Treasury recovers total minting and issuance costs so the program produces no net cost to the government.