The White House is giving the late president Ronald Reagan a special honor.

President Obama signed the Ronald Reagan Centennial Commission Act Tuesday and Nancy Reagan was there for the signing.

"President Reagan had the ability to communicate directly and movingly to the American people, to understand both the hardships they felt in their lives and the hopes that they had for their country," Obama said.

The measure sets up a commission to plan and carry out activities centering around what would have been the former president's 100th birthday which will be in February of 2011.

"President Reagan helped as much as any president to restore a sense of optimism in our country," Obama added. "A spirit that transcended politics, that transcended even the most heated arguments of the day," Obama added.

Private donations will fund the commission and it will receive no federal money. Also, every gift over $250 to the commission must be publicly reported.