2014 Kentucky Revised Statutes CHAPTER 153 - THE ARTS -- STATE ZOO 153.180 Kentucky Foundation for the Arts -- Purpose -- Funding -- Board of trustees -- Support staff -- Annual report.
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153.180 Kentucky Foundation for the Arts -- Purpose -- Funding -- Board of
trustees -- Support staff -- Annual report.
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There is hereby established a nonprofit foundation to be known as the
Kentucky Foundation for the Arts. The purpose of the foundation shall be to
enhance the stability of Kentucky's arts organizations and to ensure
Kentuckians have access to the arts through the support of an endowment
fund.
Funding for the foundation shall be obtained through state appropriations, gifts,
grants, and any other funds from the public and private sectors. The foundation
board shall have the authority to solicit, accept, and receive contributions from
the public and private sectors to match public funding. Moneys in the
foundation fund shall not lapse to the general fund at the end of the fiscal year.
Moneys in the foundation fund shall be invested by the Office of Financial
Management established in KRS 42.0201 consistent with the provisions of
KRS Chapter 42, and interest income earned shall be credited to the
foundation fund. The foundation board may use the investment income for the
purpose of awarding matching grants to nonprofit arts organizations to carry
out the following programs:
(a) The Performing Arts and Visual Arts Touring Subsidy Program shall
support tours and exhibitions for the education and enjoyment of
audiences throughout the state.
(b) The Institutional Stabilization Program shall provide operating funds to
achieve short-term or long-term stability of arts organizations.
The foundation shall be governed by a board of trustees consisting of six (6)
members appointed by the Governor on recommendations from the Kentucky
Arts Council. For the initial appointments, the Governor shall appoint two (2)
members to serve two (2) year terms; two (2) members to serve three (3) year
terms; and two (2) members to serve four (4) year terms. Thereafter, the
Governor shall make all appointments for a term of four (4) years. The board
shall elect by majority vote a chair and other officers deemed necessary. Board
members shall not receive any compensation for their services, but may be
reimbursed in accordance with the provisions of KRS 44.070 and 45.101 for
actual and necessary expenses incurred in the performance of their duties.
The foundation board shall perform duties and responsibilities deemed
necessary to fulfill the purposes of this section. The foundation board shall
establish by administrative regulation procedures for administration of the
foundation, eligibility criteria for the award of grants, appropriate matching
contributions from grant recipients, and evaluation and reporting requirements.
The foundation shall be attached to the Office of the Secretary of the Tourism,
Arts and Heritage Cabinet for administrative purposes only. The Kentucky Arts
Council shall provide to the foundation by agreement staff support and office
facilities for which reasonable charges and fees may be levied against the
foundation fund.
The foundation board shall submit an annual report to the Governor and the
Legislative Research Commission listing the sources of funds acquired and
expended.
Effective:June 25, 2009
History: Amended 2009 Ky. Acts ch. 16, sec. 33, effective June 25, 2009. -Amended 2005 Ky. Acts ch. 85, sec. 568, effective June 20, 2005; and ch. 95,
sec. 29, effective June 20, 2005. -- Amended 2000 Ky. Acts ch. 46, sec. 25,
effective July 14, 2000. -- Created 1998 Ky. Acts ch. 588, sec. 1, effective July
15, 1998.
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