IWO JIMA MONUMENT AND MUSEUM; FUND.

(a) To the extent authorized by law, the commission may enter into a contract with the nonprofit entity that owns the monument and museum to transfer to the commission the operation and management of the monument and museum.

(b) The contract authorized by this section must include provisions for:

(1) expanding, renovating, managing, maintaining, operating, or providing financial support for the monument and museum, including administration, construction and operation of a visitor center, and related activities;

(2) preserving military documents, relics, and other items of historical interest;

(3) employing a museum director and other employees the commission considers necessary to fulfill its duties and responsibilities under the contract;

(4) accepting donations of money, property, and historical relics; and

(5) acquiring property and historical relics with funds available for that purpose.

(c) The Iwo Jima monument and museum fund is created as a fund outside the state treasury. The commission shall administer the fund but may contract with the nonprofit entity that owns the monument and museum for administration of the fund. The fund consists of:

(1) admissions revenue from the operation of the monument and museum;

(2) sales revenue from the operation of the monument and museum gift shop; and

(3) donations made to the commission for the monument and museum.

(d) Money in the Iwo Jima monument and museum fund may be spent without legislative appropriation and only to administer, operate, preserve, repair, expand, or otherwise maintain the monument and museum.

(e) Interest and income from the assets of the Iwo Jima monument and museum fund shall be credited to and deposited in the fund.