To provide for the establishment of the National Coast Guard Museum on Federal lands administered by the Coast Guard.

Summary: National Coast Guard Museum Act of 2001 - Authorizes the Commandant of the Coast Guard to establish, operate, and maintain a National Coast Guard Museum on Federal lands that are administered by the Coast Guard and specified by the Commandant.Establishes in the Treasury the National Coast Guard Museum Fund.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``National Coast Guard Museum Act of 
2001''.

SEC. 2. FINDINGS.

    The Congress finds the following:
            (1) There is no national museum to commemorate and honor 
        the Coast Guard's history, mission, personnel, and traditions 
        or those of its predecessor services and agencies.
            (2) There should be established a National Coast Guard 
        Museum to commemorate the 210 years of national maritime and 
        military history of the Coast Guard and its predecessor 
        services and agencies.

SEC. 3. DEFINITIONS.

    In this Act:
            (1) Association.--The term ``Association'' means the 
        National Coast Guard Museum Association (a nonprofit 
        corporation established under the laws of the State of 
        Massachusetts), or a similar organization.
            (2) Museum.--The term ``Museum'' means the National Coast 
        Guard Museum established under sections 4(a).
            (3) Commandant.--The term ``Commandant'' means the 
        Commandant of the Coast Guard.
            (4) Fund.--The term ``Fund'' means the National Coast Guard 
        Museum Fund established under section 5(a).

SEC. 4. NATIONAL COAST GUARD MUSEUM.

    (a) Establishment.--The Commandant may, in accordance with this 
section, establish, operate, and maintain a National Coast Guard Museum 
on Federal lands that are administered by the Coast Guard and specified 
by the Commandant.
    (b) Construction.--
            (1) License.--The Commandant may grant a license to the 
        Association authorizing the Association to construct facilities 
        for the Museum on the land specified under subsection (a).
            (2) Terms.--The license under this subsection shall include 
        terms that establish the following:
                    (A) Upon completion of construction of facilities 
                under the license, the Association shall donate such 
                facilities, including any associated improvements, 
                fixtures, and related personal property, as a gift to 
                Coast Guard.
                    (B) The United States shall have no responsibility 
                for project management.
                    (C) The Association shall be responsible for 
                preparation of the design and plans for facilities 
                constructed under the license, except that the design 
                and plans shall be subject to the approval of the 
                Commandant
            (3) Funding.--(A) The Commandant shall not allow 
        construction of facilities for the Museum to begin, and may not 
        provide any Federal funds for that construction, unless the 
        Commandant determines that sufficient amounts, not less than 
        $10,000,000, are available from non-Federal sources to complete 
        construction of the Museum in accordance with the design and 
        plans approved under paragraph (2)(C).
            (B) For the purposes of constructing the Museum, and 
        subject to the availability of appropriations, the Commandant 
        may transfer to the Association up to $10,000,000.
            (C) The Commandant shall require that amounts transferred 
        under subparagraph (B) that are not expended on the 
        construction of the Museum shall be returned to the Coast Guard 
        and deposited into the Fund.
            (4) Liability.--The United States shall not be liable for 
        any act or omission relating to construction under the license.
    (c) Commandant's Authorities.--Notwithstanding any other provision 
of law, in connection with the establishment, operation, and 
maintenance of the Museum, the Commandant may--
            (1) rent or lease space within the Museum for gift shops, 
        food concessions, meeting or special event spaces, and similar 
        purposes or activities, under such terms and conditions, and 
        for such periods of time, as the Commandant considers 
        appropriate;
            (2) accept, hold, administer, and, without further Act of 
        appropriation, spend any gift, devise, or bequest of real or 
        personal property (including funds) that is made on the 
        condition that it be used for the benefit of, or in connection 
        with the establishment, operation, or maintenance of, the 
        Museum;
            (3) pay necessary expenses in connection with the 
        conveyance or transfer of any such gift, devise or bequest; and
            (4) perform other acts as the Commandant deems reasonable 
        and appropriate.
    (d) Treatment of Gifts.--For the purposes of Federal income, 
estate, and gift taxes, property that is accepted under subsection 
(c)(2) shall be considered as a gift, devise, or bequest to or for the 
use of the United States.

SEC. 5. NATIONAL COAST GUARD MUSEUM FUND.

    (a) Establishment.--There is established in the Treasury a separate 
account that shall be known as the ``National Coast Guard Museum 
Fund''.
    (b) Contents.--The Fund shall consist of the following:
            (1) Gifts, devises, and bequests of funds accepted under 
        section 4(c)(2).
            (2) Amounts received by the United States from the rental 
        or leasing of space within the Museum under section 4(a).
            (3) Interest credited under subsection (d).
            (4) Amounts deposited under section 4(b)(3)(C).
    (c) Use.--The Commandant may make disbursements from the Fund for 
the establishment, operation, or maintenance of the Museum, without 
further Act of appropriation and without fiscal year limitation.
    (d) Investment.--
            (1) In general.--Upon request of the Commandant, the 
        Secretary of the Treasury may invest amounts in the Fund in 
        securities of, or in securities whose principal and interest 
        are guaranteed by, the United States Government.
            (2) Interest.--The interest and profits accruing from 
        investments under this subsection shall be deposited to the 
        credit of the Fund.