Authorizes the Peace Corps Commemorative Foundation to establish a commemorative work on federal land in the District of Columbia to commemorate the formation of the Peace Corps and to honor the ideals upon which it was founded.
Prohibits the use of federal funds to pay any expense to establish the commemorative work.
Gives the Peace Corps Commemorative Foundation sole responsibility for the acceptance of contributions for, and payment of the expenses of, the establishment of the commemorative work.
Requires the Peace Corps Commemorative Foundation to transmit any remaining balance of funds received for the establishment of the commemorative work to the Secretary of the Interior for deposit in a separate account with the National Park Foundation.
Requires the budgetary effects of this Act, for the purpose of complying with the Statutory Pay-As-You-Go Act of 2010, to be determined by reference to the latest statement titled "Budgetary Effects of PAYGO Legislation," provided that such statement has been submitted for printing in the Congressional Record prior to the vote on passage.