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1997 SESSION

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HB 2484 Arts Foundation.

Introduced by: Marian Van Landingham | all patrons    ...    notes | add to my profiles

SUMMARY:

Virginia Arts Foundation. Establishes the Virginia Arts Foundation. The Foundation will be administered by a board of trustees, consisting of the current members of the Virginia Commission for the Arts, and will manage a special, nonreverting fund to be known as the Virginia Arts Foundation Fund. The purpose of the Fund will be to promote the arts in the Commonwealth by assisting the Commission for the Arts in fulfilling its statutory responsibilities. The Fund will consist of any direct appropriations designated separately for the Fund, tax refunds designated by taxpayers on a new income tax checkoff, revenue-sharing proceeds from the sales of special license plates for the arts, and any private gifts and donations. Trustees are prohibited from actively soliciting private donations for the Fund and cannot make expenditures from the interest and income earned by the Fund for three years.


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