(1) The Michigan history center operations fund is created within the state treasury.

    (2) The state treasurer may receive money or other assets from any source for deposit into the operations fund. The state treasurer shall direct the investment of the operations fund. In consultation with the department, the state treasurer may create subaccounts within the operations fund. The state treasurer shall credit to the operations fund interest and earnings from operations fund investments.

    (3) Money in the operations fund at the close of the fiscal year shall remain in the operations fund and shall not lapse to the general fund.

    (4) The department shall be the administrator of the operations fund for auditing purposes.

    (5) The department shall expend money in the operations fund, upon appropriation, to do any of the following:

    (a) Purchase artifacts for the collections of the center.

    (b) Restore artifacts in the collections of the center.

    (c) Advertise and pay for educational programs, special exhibits, and special events, including performers, presented at the center or another museum or historical facility operated by the department.

    (d) Provide free materials to school groups.

    (e) Purchase items offered for sale at the store.

    (f) Pay for any other expense incurred by the center.

    (g) Implement the Governor John B. Swainson Michigan historical markers act, 1955 PA 10, MCL 399.151 to 399.160.

    (6) The department shall annually prepare a report containing an accounting of revenues and expenditures from the operations fund for the previous fiscal year. The report shall include information about the location of any markers erected during the previous fiscal year. This report shall be provided to the senate and house of representatives appropriations committees and the standing committees of the senate and house of representatives with jurisdiction over issues pertaining to natural resources and the environment.