1. The Endowment Fund for the Historic Preservation of the Nevada State Prison is hereby created as a trust fund in the State Treasury.
2. The State Treasurer shall deposit in the Fund:
(a) Any money received from any commercial or tourist enterprises relating to the use of the historic structures, buildings and other property of the Nevada State Prison as a historical, cultural, educational and scientific resource, except for any administrative expenses of a nonprofit corporation retained by the corporation pursuant to NRS 381.241.
(b) At the end of each fiscal year, the money required by subsection 6 of NRS 209.194 to be transferred from the Silver State Industries Endowment Fund created by that section, other than the money which represents the reserved principal of the Silver State Industries Endowment Fund.
(c) Any other gifts, grants or donations of money the State Treasurer receives from any person who wishes to contribute to the Fund.
3. The interest and income earned on the money in the Fund must be credited to the Fund.
4. The Fund must be administered by the agency to which the historic structures, buildings and other property of the Nevada State Prison are assigned for administration pursuant to NRS 321.004, in consultation with the Board and the Nevada State Prison Preservation Society or its successor.
5. The money in the Fund must only be used for the purposes of the operation, maintenance and preservation of the historic structures, buildings and other property of the Nevada State Prison as a historical, cultural, educational and scientific resource. The money which represents the reserved principal of the Fund, in an amount not to exceed $100,000, must not be spent, and only the money which represents the principal in excess of $100,000 and the interest earned on the principal may be used to carry out the provisions of this section. The agency that administers the Fund may use not more than 10 percent of the interest earned on the principal of the Fund to pay administrative costs.
(Added to NRS by 2015, 869)
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