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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Feb 25, 2016.
Naismith Memorial Basketball Hall of Fame Commemorative Coin Act
This bill directs the Department of the Treasury, in recognition of the 60th anniversary of the Naismith Memorial Basketball Hall of Fame, to mint and issue not more than 50,000 $5 coins, 400,000 $1 coins, and 750,000 half-dollar coins.
The coins shall be in the shape of a dome, and the design on the common reverse of the coins shall depict a basketball. Treasury shall hold a competition to determine the design of the common obverse of the coins, which shall be emblematic of the game of basketball.
The bill requires all sales of such coins to include specified surcharges, which shall be paid by Treasury to the Hall to fund an endowment for its operations.