Bill Text: CT HB05422 | 2016 | General Assembly | Comm Sub
Bill Title: An Act Concerning Awards From The Connecticut Arts Endowment Fund.
Spectrum: Committee Bill
Status: (Engrossed - Dead) 2016-04-29 - Senate Calendar Number 550 [HB05422 Detail]
Download: Connecticut-2016-HB05422-Comm_Sub.html
General Assembly |
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February Session, 2016 |
*_____HB05422CE____031616____* |
AN ACT CONCERNING AWARDS FROM THE CONNECTICUT ARTS ENDOWMENT FUND.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Section 10-407 of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2016):
(a) To be eligible for a matching grant for a fiscal year pursuant to this section and section 10-408, total donor contributions for the fiscal year for which such amount is calculated shall be not less than [twenty-five] fifteen thousand dollars.
(b) For the portion of total donor contributions for the fiscal year which is equal to [twenty-five] fifteen thousand dollars or more but does not exceed the total donor contributions for the prior fiscal year, there shall be a match of twenty-five per cent of such amount, provided no match pursuant to this subsection shall exceed two hundred fifty thousand dollars.
(c) For the portion of total donor contributions for the fiscal year which exceeds the total donor contributions for the prior fiscal year, there shall be a match of one hundred per cent of such amount, provided no match pursuant to this subsection shall exceed one million dollars.
(d) If in any fiscal year the total amount of matching grants to be paid pursuant to the provisions of this section and section 10-408, exceed the investment earnings of the Arts Endowment Fund which are available for payments to arts organizations pursuant to section 10-406, all such matching grants shall be reduced on a pro rata basis, provided the department shall not issue any grant in an amount less than five hundred dollars.
(e) No arts organization shall be eligible for a matching grant pursuant to this section and section 10-408 if it received or is designated to receive funding pursuant to a line item within the budget of the Department of Economic and Community Development for the fiscal year in which such grant would be awarded.
This act shall take effect as follows and shall amend the following sections: | ||
Section 1 |
July 1, 2016 |
10-407 |
CE |
Joint Favorable Subst. |