New Jersey State Assemblyman Leonard Lance has submitted proposed legislation titled "the New Jersey Cultural Trust Act."
If enacted, the proposed legislation would establish a "permanent, interest-generating fund to be an additional source of revenue to non profit arts, history and humanities organizations, specifically for the building of endowments, the improvement of institutional and financial stability, and the capital improvement of cultural facilities."
Lance represents District 23 in New Jersey (Warren, Hunterdon, Mercer).
The proposed Bill calls for a 15-member board to run the trust, which would comprise New Jersey's Secretary of State, the State Treasurer, the chair of the New Jersey Council on the Arts, the chair of the New Jersey Historic Trust and the chair of the New Jersey Historical Commission (or their designees) as ex-officio members of the board. As submitted on May 25, the proposed Bill also calls for ten public members to be appointed to the board by the Governor, the State Senate and New Jersey's Speaker of the General Assembly.
Public members would serve in a variety of capacities without compensation, and their expenses would be reimbursed. Board members and staff would be empowered to fundraise for the Cultural Trust. If enacted into law, the New Jersey Cultural Trust would be created immediately and would receive an annual credit of $10,000,000 from the States Treasurer.
For the full text of the proposed Bill visit www.artpridenj.com.
-- By Murdoch McBride