To require the construction of a memorial on Federal land in the District of Columbia or its environs to honor members of the Armed Forces who served in World War II and to commemorate United States participation in that conflict.

Directs the National World War II Memorial Fund, Inc., to construct a memorial on Federal land in the District of Columbia or its environs to: (1) honor members of the armed forces who served in World War II; and (2) commemorate U.S. participation in that conflict. Directs the fund to plan, design, and oversee the construction of the Memorial.

Establishes the World War II Memorial Advisory Board to: (1) promote and encourage the donation of private funds for the construction of the Memorial; and (2) recommend the site for and assist in the selection of the design of the Memorial.

Terminates the Board within 30 days after completion of the Memorial or on the lapse of the authority provided by this Act.

Authorizes the Fund to solicit and accept private contributions for construction of the Memorial.

States that the requirements and authority of this Act shall lapse if: (1) construction of the Memorial is not commenced within seven years of its enactment; or (2) before such construction, the Secretary of the Interior certifies that funds are not available in an amount sufficient to ensure its completion.