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Since the congress has found that the state has certain responsibilities under the Abandoned Shipwreck Act of 1987, Public Law No. 100-298 (43 U.S.C. § 2101 et seq.), the division of archaeology is authorized to:
Develop a plan regarding significant shipwreck sites in Tennessee which will include management strategies for the preservation and conservation of shipwrecks;
Recognize important events and geographic locations in the history and development of river navigation;
Establish a geographic data base and an information system that can be used to locate, track, and cross-reference significant shipwrecks;
Acquire or provide funds for the research and identification of shipwrecks; and
Expend funds received from state appropriations and other sources to make grants to municipalities, counties, and nonprofit organizations for the purpose of this section.
The division is authorized, in carrying out its purposes, to:
Accept loans or grants, or both, of money, materials or property of any kind from the United States or any agency or instrumentality thereof upon such terms and conditions as the United States or such agency or instrumentality may impose;
Receive and accept loans, gifts, grants, donations, or contributions of property, facilities, or services, with or without consideration from any person, firm, or corporation, or from the state or any agency or instrumentality thereof or from any county, municipal corporation or local government or governing body; and
Hold, use, administer and expend such sum or sums as may hereafter be received as income, as gifts or as appropriations from the general assembly for any of the purposes of the division.