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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
9/17/1996--Passed House amended. George Washington Commemorative Coin Act of 1996 - Requires the Secretary of Treasury (the Secretary) to mint and issue five-dollar gold coins emblematic of George Washington. Mandates that the design for the coins be: (1) selected by the Secretary after consultation with the Mount Vernon Ladies' Association and the Commission of Fine Arts; and (2) reviewed by the Citizens Commemorative Coin Advisory Committee. Provides for the distribution of coin sale surcharges to the Mount Vernon Ladies' Association (the Association). Conditions such distribution upon specified audit requirements, including submission of an audited financial statement demonstrating to the Secretary's satisfaction that the Association has raised funds from private sources equal to or greater than the maximum amount it may receive from surcharge proceeds.