(a)
Arts and Industries Building— The Arts and Industries Building of the Smithsonian Institution, located on the National Mall at 900 Jefferson Drive, Southwest, Washington, District of Columbia, including a new underground annex facility, is designated as the location of the Smithsonian American Latino Museum.
(b)
Planning and construction— The Board of Regents of the Smithsonian Institution, in consultation with the Secretary of the Interior, the Commission of Fine Arts, and the National Capital Planning Commission, and with other appropriate Federal and local agencies, is authorized to prepare plans, design, renovate, rehabilitate, and construct the Smithsonian American Latino Museum facility, as referred to in the May 2011 Report to Congress of the Commission to Study the Potential Creation of a National Museum of the American Latino.
(c)
Schedule and funding—
(1)
In general— The Board of Regents is authorized to prepare a plan of action for the Smithsonian American Latino Museum, and to identify and evaluate viable funding models for both construction and operation of the Museum.
(2)
Timing— The plan of action authorized in paragraph (1) shall be concluded not later than 18 months after the date of enactment of this Act.