Bill 295.

Summary.

The bill adds Article 1172-AA (transitional) to the Tax Code (Código Fiscal) to create proof quality commemorative coins dedicated to the Palacio de las Garzas and the Office of the First Lady during 2025 to 2029. It authorizes, for each subject, a colored nickel coin denominated at one balboa, a silver coin denominated at twenty balboas, and a gold coin denominated at fifty balboas. Coins dedicated to the Palacio de las Garzas would show its silhouette on the obverse; those dedicated to the Office of the First Lady would show its logo and name. All would display the National Coat of Arms at the center of the reverse.

For each subject, the article authorizes up to two thousand (2,000) nickel coins, up to six hundred (600) silver coins, and up to two hundred (200) gold coins. The nickel coins would have a diameter of thirty-four millimeters (34mm), an approximate weight of fifteen grams (15g), and a composition of one hundred percent (100%) nickel. The silver coins would have a diameter of forty point six millimeters (40.6mm), a net weight of thirty-one point one grams (31.1 g), and .999 silver fineness. The gold coins would have a diameter of twenty-two millimeters (22mm), a net weight of three point one grams (3.1 g), and .999 gold fineness.

The minting company would have to ensure the proof finish and deliver the coins to the reserve of the National Bank of Panama (Banco Nacional de Panamá). Each coin would have to be placed in an individual, high-strength transparent plastic capsule, and the capsules in collectors’ cases. Each case would carry a certificate of authenticity specifying the total mintage, the coin’s position within the series, and its metal composition.

The bill empowers the Ministry of Economy and Finance (Ministerio de Economía y Finanzas) to determine the design and artistic content while retaining imagery referring to both subjects, negotiate characteristics and quantities within the authorized limits, and adopt measures to implement the proposed law. It also grants the coins the full legal tender status accorded to national coins.

Royalties from sales would go to the Association for Charitable Works (Asociación Pro Obras de Beneficencia, APROB), after the stated deduction of minting expenses incurred by the National Bank of Panama and assumed by the Ministry of the Presidency (Ministerio de la Presidencia). The National Bank of Panama would distribute the coins and hold the cases for prospective purchasers. The final articles restate the addition to the Tax Code and provide for commencement upon promulgation. The bill therefore concerns the National Bank of Panama, the Ministry of Economy and Finance, and the Ministry of the Presidency, as well as coin minting, collecting, and APROB’s charitable programs.