Applications for the 2006 honor will be accepted from June 1-30. The winner will be selected and announced in November.

The new award named in honor of the late Chicago and Cabaret lyricist Fred Ebb — which includes a $50,000 prize — "recognizes excellence in musical theatre songwriting by a lyricist, composer, or songwriting team that has not yet achieved significant commercial success," according to a release. The aim of the honor is to encourage and support new musical theatre works.

John Bucchino garnered the inaugural Fred Ebb Award at a Nov. 29, 2005 ceremony. The Roundabout Theatre Company — who has enjoyed a longstanding relationship with Ebb — serves as a creative and administrative guide for the new award.

Last year's panel of judges included Broadway director Scott Ellis (The Threepenny Opera), lyricist-composer Sheldon Harnick (Fiddler on the Roof), playwright-producer Tim Pinckney (Message to Michael), producer Arthur Whitelaw (You're a Good Man, Charlie Brown) and Foundation Trustee Mitchell S. Bernard.

Ebb penned the lyrics (with his longtime composing collaborator John Kander) for such musicals as Cabaret, Woman of the Year and Kiss of the Spider Woman (all Tony Award winners for Best Score), as well as Chicago, Zorba, The Rink, 70 Girls 70, The Act and Steel Pier. Kander and Ebb's 1965 Broadway musical debut Flora the Red Menace introduced Liza Minnelli to Broadway. Applications and guidelines for The Fred Ebb Award are available through the official website at www.FredEbbFoundation.org.