Section 182B. The Massachusetts Maritime Academy shall hold, administer, operate, preserve and maintain the Schooner Ernestina-Morrissey for educational and training purposes and may participate in tourism activities in cooperation with the advisory board on vacation travel. The Massachusetts Maritime Academy shall establish all policies relative to the operation of the vessel.

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The Massachusetts Maritime Academy may:

(i) authorize the Schooner Ernestina-Morrissey to ply the oceans, seas and all navigable waters and to fly the flag of the commonwealth; provided, however, that the vessel shall not be used for commercial fishing;

(ii) charge fees or tuition to students, trainees, sailing cadets or others who are carried on voyages or trips for educational or training purposes;

(iii) charge fees to passengers for excursions and tours;

(iv) develop educational programs, including exhibitions and dockside tours of the Schooner Ernestina-Morrissey and charge and receive admission fees from the public for providing such services;

(v) retain and expend any fees, tuitions and revenues received under this section to ensure the continued operation, preservation and maintenance of the Schooner Ernestina-Morrissey; provided, however, that all monies retained and expended shall be reported annually to the secretary of administration and finance and the house and senate committees on ways and means;

(vi) receive and expend grants from municipal and federal agencies and private foundations to support the operation, preservation and maintenance of the Schooner Ernestina-Morrissey and to receive and accept contributions, including, but not limited to, money, property and labor, from any source to be used for the purposes for which the grants and contributions are made; and

(vii) hire, as needed, professional staff to assist with the operation of the Schooner Ernestina-Morrissey.