09/13/2011 11:39 am ET | Updated Nov 13, 2011

9/11 Memorial Bill Would Provide $20 Million In Funds

In a new bill proposed on Friday, the National September 11 Memorial and Museum would fall under the ownership of the federal government, specifically the National Park Service agency, who will provide $20 million dollars of annual funding to the memorial.

The plan was introduced by Senator Daniel K. Inouye, a Democrat from Hawaii, and has the support of Governor Andrew Cuomo, along with New York Senators Charles Schumer and Kirtsten E. Gillibrand.

While the memorial is and will remain free, the museum's admission is speculated to cost as much as $25. Joseph C. Daniels, the CEO of the memorial and museum, says the final cost will depend on how much the federal government is willing to provide, along with how much the foundation is able to raise privately.

Daniels also spoke on Monday, the first day of the memorial's opening, about the significance the memorial's funding had on Inouye, who witnessed the attack on Pearl Harbor and lost his arm fighting in World War II.

The foundation estimates the memorial's upkeep will cost an estimated $60 million a year. If Congress approves of the $20 million in funding, the foundation will need to provide the remainder in admission fees and private donations.