6. a. The authority is authorized to establish a nonprofit, educational and charitable organization to be known as the Foundation for the New Jersey Hall of Fame, hereinafter referred to as the “foundation.” The foundation shall be incorporated as a New Jersey nonprofit corporation pursuant to P.L.1983, c.127 (C. 15A:1-1 et seq.), and organized and operated in such manner as to be eligible under applicable federal law for tax-exempt status and for the receipt of tax-deductible contributions, and shall be authorized to sue and to be sued as a legal entity separate from the authority and from the State of New Jersey.

b. In addition to the duties specified under section 5 of P.L.2005, c.232 (C. 5:10-6.7), the foundation shall be responsible for the planning, promoting and coordinating of fund-raising drives and the soliciting of contributions for the purposes set forth in P.L.2005, c.232 (C. 5:10-6.4 et al.) and for determining how such funds and contributions shall be allocated for: (1) the support of the New Jersey Hall of Fame project including, but not limited to, the annual induction ceremonies for nominees to the New Jersey Hall of Fame and other events sponsored in connection with the New Jersey Hall of Fame project; (2) the support of charitable organizations that directly benefit children in need in New Jersey and throughout the world; (3) the administrative and other expenses of the hall of fame; and (4) other purposes of P.L.2005, c.232 (C. 5:10-6.4 et al.).

L.2005, c.232, s.6; amended 2017, c.31, s.4.