To provide for the establishment of a memorial on Federal land within the District of Columbia to honor members of the Armed Forces who served in World War II, and to express the sense of Congress concerning the United States' participation in that conflict.

Authorizes the American Battle Monuments Commission to establish a memorial on Federal land in the District of Columbia or its environs to honor World War II veterans and to commemorate U.S. participation in that war.

Requires compliance with standards for commemorative works under specified Federal law and provision for accessibility by, and accomodation for, the physically handicapped.

Establishes the World War II Memorial Advisory Board (the Board) to: (1) promote the establishment of the memorial and encourage the donation of private contributions for it, in the manner the Commission specifies; and (2) advise the Commission, upon its request, on the site and design for the memorial.

Terminates the Board within a specified time after completion of the Memorial or the lapse of the authority provided by this Act.

Authorizes the Commission to solicit and accept private contributions for such memorial. Establishes a fund in the Treasury which shall be made available to the Commission for the expenses of establishing the memorial. Requires such fund to consist of: (1) deposits of contributions, and interest and proceeds credited on investments in obligations; (2) any Government or Government-guaranteed obligations which the fund invests in; and (3) the amount of surcharges paid to the Commission for the memorial under the World War II 50th Anniversary Commemorative Coins Act. Provides for: (1) legislation to abolish such fund upon the final settlement of accounts; and (2) deposit of excess funds from such fund in an account for commemorative works.