A. The Yarnell Hill memorial fund is established consisting of legislative appropriations and donations to the fund. The Yarnell Hill memorial site board shall administer the fund. On notice from the Yarnell Hill memorial site board, the state treasurer shall invest and divest monies in the fund as provided by section 35-313, and monies earned from investment shall be credited to the fund. The monies in the fund are exempt from section 35-190 relating to lapsing of appropriations. The monies in the fund and any additional donations to the fund must be used for:

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1. Purchasing land for the Yarnell Hill memorial.

2. Purchasing, designing and constructing the Yarnell Hill memorial.

3. Maintaining and preserving the Yarnell Hill memorial and access road.

4. Reimbursement of the Yarnell Hill memorial site board members’ travel expenses.

B. Beginning on January 1, 2017, the Arizona state parks board shall administer the fund.