There is created in the State Treasury a special fund to be known as the “Museum Trust Fund.” The Mississippi Department of Archives and History may solicit and accept donations, bequests, devises, gifts and grants of money from individuals, organizations, and corporations to be deposited in the Museum Trust Fund. The State Treasurer shall invest all monies in the Museum Trust Fund as other state funds are authorized to be invested, and any interest earned shall be deposited into the fund. All funds deposited in the Museum Trust Fund shall be expended upon appropriation by the Legislature, solely for the purpose of acquiring, cataloging, conserving, and exhibiting artifacts.

The Mississippi Department of Archives and History may solicit and accept donations, bequests, devises, gifts and grants of real and personal property. The Board of Trustees of the Department of Archives and History, in its discretion, may sell the property by public or private sale and shall deposit proceeds derived from the sale into the Museum Trust Fund.

The Board of Trustees of the Mississippi Department of Archives and History, in its discretion, may deposit into the Museum Trust Fund any monies in the Department’s Museum Gift Fund and any monies received as a result of royalty or use fee payments.

Unexpended amounts remaining in the special fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned on the unexpended amounts in the special fund shall be deposited to the credit of the special fund.