5. The New Jersey-Israel Commission shall be authorized to raise funds, through direct solicitation or other fundraising events, alone or with other groups, and accept gifts, grants and bequests from individuals, corporations, foundations, governmental agencies, public and private organizations and institutions, to defray the commission’s administrative expenses and carry out its purposes as set forth in this act, P.L.2008, c.125 (C. 52:16A-104 et seq.). The funds, gifts, grants, or bequests received pursuant to this section shall be deposited in a State Treasury account and allocated and annually appropriated to the Department of State to defray the commission’s administrative expenses and carry out its purposes.

L.2008, c.125, s.5.