Text: HF02287 Text: HF02289 Text: HF02200 - HF02299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 303.1A, Code 2001, is amended by adding
1 2 the following new subsection:
1 3 NEW SUBSECTION. 6. Administer the Iowa cultural trust as
1 4 provided in chapter 303A and do all of the following:
1 5 a. Develop and adopt by rule criteria for the issuance of
1 6 trust fund credits by measuring the efforts of qualified
1 7 organizations, as defined in section 303A.3, to increase their
1 8 endowment or other resources for the promotion of the arts,
1 9 history, or the sciences and humanities in Iowa. If the
1 10 director determines that the organizations have increased the
1 11 amount of their endowment and other resources, the director
1 12 shall certify the amount of increase in the form of trust fund
1 13 credits to the treasurer, who shall deposit in the Iowa
1 14 cultural trust fund, from moneys received for purposes of the
1 15 trust fund as provided in section 303A.4, subsection 2, an
1 16 amount equal to the trust fund credits. If the amount of the
1 17 trust fund credits issued by the director exceeds the amount
1 18 of moneys available to be deposited in the trust fund as
1 19 provided in section 303A.4, subsection 2, the outstanding
1 20 trust fund credits shall not expire but shall be available to
1 21 draw down additional moneys which become available to be
1 22 deposited in the trust fund as provided in section 303A.4,
1 23 subsection 2.
1 24 b. Develop and implement, in accordance with chapter 303A,
1 25 a grant application process for grants issued to qualified
1 26 organizations as defined in section 303A.3.
1 27 c. Develop and adopt by rule criteria for the approval of
1 28 Iowa cultural trust grants. The criteria shall include, but
1 29 shall not be limited to, the future stability and
1 30 sustainability of a qualified organization and a requirement
1 31 that the qualified organization employ at least one paid staff
1 32 member.
1 33 d. Compile, in consultation with the Iowa arts council and
1 34 the state historical society of Iowa, a list of grant
1 35 applications recommended for funding in accordance with the
2 1 amount available for distribution as provided in section
2 2 303A.6, subsection 3. The list of recommended grant
2 3 applications shall be submitted to the Iowa cultural trust
2 4 board of trustees for approval.
2 5 e. Monitor the allocation and use of grant moneys by
2 6 qualified organizations to determine whether moneys are used
2 7 in accordance with the provisions of this subsection and
2 8 chapter 303A. The director shall annually submit the
2 9 director's findings and recommendations in a report to the
2 10 Iowa cultural trust board of trustees prior to final board
2 11 action in approving grants for the next succeeding fiscal
2 12 year.
2 13 Sec. 2. NEW SECTION. 303A.1 SHORT TITLE.
2 14 This chapter shall be known and may be cited as the "Iowa
2 15 Cultural Trust Act".
2 16 Sec. 3. NEW SECTION. 303A.2 LEGISLATIVE FINDINGS.
2 17 The general assembly finds and declares that cultural
2 18 organizations generate millions of dollars in economic
2 19 activity in Iowa; attract people to live and work in Iowa's
2 20 communities, contribute to a revitalization of those
2 21 communities; are a magnet for tourists; train minds for the
2 22 creative economy jobs of the future; and build social capital.
2 23 However, these organizations are often undercapitalized.
2 24 Therefore, to bring financial stability to these organizations
2 25 through fluctuating economic conditions, it is the intent of
2 26 the general assembly that a public trust be established the
2 27 income from which shall be made available to supplement the
2 28 operating budgets of nonprofit cultural organizations that
2 29 meet certain criteria, including a commitment to strategies to
2 30 attain long-term financial stability and sustainability.
2 31 Sec. 4. NEW SECTION. 303A.3 DEFINITIONS.
2 32 For purposes of this chapter, unless the context otherwise
2 33 requires:
2 34 1. "Board" means the board of trustees of the Iowa
2 35 cultural trust created in section 303A.5.
3 1 2. "Department" means the department of cultural affairs
3 2 created in section 303.1.
3 3 3. "Director" means the director of the department of
3 4 cultural affairs.
3 5 4. "Grant account" means the Iowa cultural trust grant
3 6 account created in section 303A.7.
3 7 5. "Qualified organization" means a tax-exempt, nonprofit
3 8 organization whose primary mission is to promote the arts,
3 9 history, or the sciences and humanities in Iowa.
3 10 6. "Trust fund" means the Iowa cultural trust fund created
3 11 in section 303A.4.
3 12 Sec. 5. NEW SECTION. 303A.4 IOWA CULTURAL TRUST AND
3 13 TRUST FUND.
3 14 1. The Iowa cultural trust is created as a public body
3 15 corporate organized for the purposes, with the powers, and
3 16 subject to the restrictions, set forth in this chapter.
3 17 2. An Iowa cultural trust fund is created in the office of
3 18 the treasurer of state for the purpose of receiving moneys
3 19 appropriated by the general assembly and any other moneys
3 20 available to the trust fund due to the issuance of trust fund
3 21 credits by the director as provided in section 303.1A,
3 22 subsection 6.
3 23 3. The trust fund may also receive any devise, gift,
3 24 bequest, donation, or federal or other grant from any person,
3 25 firm, partnership, or corporation.
3 26 4. The treasurer of state shall act as custodian of the
3 27 fund, shall invest moneys in the trust fund, and shall
3 28 transfer the interest attributable to the investment of trust
3 29 fund moneys to the grant account created in section 303A.7.
3 30 The trust fund's principal shall not be used or accessed by
3 31 the department or the board for any purpose.
3 32 5. Notwithstanding section 8.33, moneys remaining in the
3 33 trust fund at the end of the fiscal year shall be retained in
3 34 the trust fund. Notwithstanding section 12C.7, subsection 2,
3 35 interest or earnings on investments or time deposits of the
4 1 moneys in the trust fund shall be credited to the trust fund.
4 2 Sec. 6. NEW SECTION. 303A.5 BOARD OF TRUSTEES.
4 3 1. A board of trustees of the Iowa cultural trust is
4 4 created. The general responsibility for the proper operation
4 5 of the trust is vested in the board of trustees, which shall
4 6 consist of thirteen members as follows:
4 7 a. Nine public members, five of whom shall be appointed by
4 8 the governor, subject to confirmation by the senate. The
4 9 majority leader of the senate, the minority leader of the
4 10 senate, the speaker of the house, and the minority leader of
4 11 the house of representatives shall each appoint one public
4 12 member. A public member of the board appointed in accordance
4 13 with this section shall not also serve concurrently as a
4 14 member of the state historical society board of trustees or
4 15 the Iowa state arts council.
4 16 b. Four ex officio, nonvoting members, consisting of the
4 17 treasurer of state or the treasurer's designee, the director
4 18 of the department of cultural affairs or the director's
4 19 designee, the chairperson of the state historical society
4 20 board of trustees elected pursuant to section 303.6, and the
4 21 chairperson of the Iowa state arts council designated pursuant
4 22 to section 303.86.
4 23 2. Members appointed by the general assembly shall be
4 24 appointed to two-year terms. The public members appointed by
4 25 the governor shall serve five-year staggered terms beginning
4 26 and ending as provided in section 69.19. Vacancies on the
4 27 board shall be filled for the unexpired portion of the term in
4 28 the same manner as the original appointments.
4 29 3. Members appointed by the governor are subject to the
4 30 requirements of sections 69.16, 69.16A, and 69.19.
4 31 4. Public members shall serve without compensation, but
4 32 shall be reimbursed for all actual and necessary expenses they
4 33 incur through service on the board.
4 34 5. The board shall elect a chairperson and vice
4 35 chairperson from among its membership. The board shall meet
5 1 at the call of its chairperson or upon written request of a
5 2 majority of its voting members. Five voting members
5 3 constitute a quorum. The concurrence of a majority of the
5 4 voting members of a board is required to take any action
5 5 relating to its duties.
5 6 6. The board shall be located for administrative purposes
5 7 within the department. The department, subject to approval by
5 8 the board, shall adopt administrative rules pursuant to
5 9 chapter 17A necessary to administer the income derived from
5 10 the Iowa cultural trust fund and to perform specific powers
5 11 and duties as provided in section 303A.6. The director shall
5 12 budget funds to pay the expenses of the board and administer
5 13 this chapter.
5 14 Sec. 7. NEW SECTION. 303A.6 BOARD OF TRUSTEES – POWERS
5 15 AND DUTIES.
5 16 The board shall do any or all of the following:
5 17 1. Enter into agreements with any qualified organization,
5 18 the state, or any federal or other state agency, or other
5 19 entity as required to administer this chapter.
5 20 2. Approve or disapprove the grants recommended for
5 21 approval by the director, in consultation with the Iowa arts
5 22 council and the state historical society of Iowa, in
5 23 accordance with section 303.1A, subsection 6, paragraph "c".
5 24 The board may delete any recommendation, but shall not add to
5 25 or otherwise amend the list of recommended grants.
5 26 3. Upon approving a grant, the board shall certify to the
5 27 treasurer of state the amount of financial assistance payable
5 28 from the trust account to the qualified organization whose
5 29 grant application is approved.
5 30 4. Determine, in consultation with the treasurer of state,
5 31 the amount of investment income attributable to the trust fund
5 32 that will be available for distribution as grants to qualified
5 33 organizations.
5 34 5. Accept any devise, gift, bequest, donation, or federal
5 35 or other grant from any person, firm, partnership, or
6 1 corporation, which the treasurer of state shall deposit into
6 2 the trust fund.
6 3 Sec. 8. NEW SECTION. 303A.7 IOWA CULTURAL TRUST ACCOUNT.
6 4 1. An Iowa cultural trust grant account is created in the
6 5 office of the treasurer under the control of the board to
6 6 receive interest attributable to the investment of trust fund
6 7 moneys as required by section 303A.4, subsection 4. The
6 8 moneys in the grant account are appropriated to the board for
6 9 purposes of the Iowa cultural trust created in section 303A.4.
6 10 Moneys in the grant account shall not be subject to
6 11 appropriation for any other purpose by the general assembly,
6 12 but shall be used only for the purposes of the Iowa cultural
6 13 trust. The treasurer of state shall act as custodian of the
6 14 grant account and disburse moneys contained in the grant
6 15 account as directed by the board. The board shall make
6 16 expenditures from the grant account consistent with the
6 17 purposes of the Iowa cultural trust.
6 18 2. Moneys in the grant account are not subject to section
6 19 8.33. Notwithstanding section 12C.7, subsection 2, interest
6 20 or earnings on moneys in the grant account shall be credited
6 21 to the grant account.
6 22 3. For the fiscal period beginning July 1, 2003, and
6 23 ending June 30, 2005, the board shall use moneys in the grant
6 24 account for a statewide educational program to promote
6 25 participation in, expanded support of, and local endowment
6 26 building for, Iowa nonprofit arts, history, and sciences and
6 27 humanities organizations.
6 28 Sec. 9. INITIAL APPOINTMENTS. The governor's initial
6 29 public appointments to the board of trustees of the Iowa
6 30 cultural trust created in section 303A.5, as enacted in this
6 31 Act, shall be made as follows:
6 32 1. One member to a one-year term.
6 33 2. Two members to three-year terms.
6 34 3. Two members to five-year terms.
6 35 EXPLANATION
7 1 This bill creates an Iowa cultural trust, a trust fund, and
7 2 a grant account. Interest from any moneys in the Iowa
7 3 cultural trust fund will be used for an educational program to
7 4 promote support of local endowment building and to encourage
7 5 continuing support for qualified organizations in the first
7 6 two years of the trust's existence, and thereafter must be
7 7 used to issue grant moneys to qualified organizations in the
7 8 state.
7 9 As provided in the bill, it is the intent of the general
7 10 assembly to establish a public trust, the income from which
7 11 shall be used to supplement the operating budgets of nonprofit
7 12 cultural organizations. The intent language provides that
7 13 organizations must demonstrate a commitment to strategies to
7 14 attain long-term financial stability and sustainability.
7 15 The bill establishes the Iowa cultural trust as a public
7 16 body corporate and creates a trust fund in the office of the
7 17 state treasurer. Moneys shall not be deposited by the
7 18 treasurer of state into the trust fund until the director of
7 19 the department of cultural affairs determines that qualified
7 20 cultural organizations have demonstrated the required increase
7 21 in local endowment and resource efforts and notifies the
7 22 treasurer of that fact. The sum of moneys deposited
7 23 correlates to the increase in local effort demonstrated. The
7 24 bill directs the treasurer of state to transfer only the
7 25 interest accrued on moneys in the trust fund to the Iowa
7 26 cultural trust grant account, which is under the control of
7 27 the board of trustees of the Iowa cultural trust.
7 28 The bill creates the board of trustees of the Iowa cultural
7 29 trust and gives it general responsibility for the proper
7 30 operation of the trust. The board consists of nine public
7 31 voting and four ex officio, nonvoting members. Five of the
7 32 voting members are public members appointed by the governor,
7 33 subject to confirmation by the senate. The remaining four
7 34 voting members shall be appointed by senate and house of
7 35 representatives leaders. Public members will be reimbursed
8 1 for their expenses, but they must serve without compensation.
8 2 The bill provides for their initial, staggered appointments.
8 3 The bill directs the board to enter into any necessary
8 4 agreements and to approve or disapprove the grantee list
8 5 recommended by the director of the department of cultural
8 6 affairs, but prohibits the board from adding to the list. The
8 7 director must compile the grantee list in consultation with
8 8 the Iowa arts council and the state historical society of
8 9 Iowa.
8 10 The board shall be located for administrative purposes
8 11 within the department of cultural affairs. The director of
8 12 the department must budget funds to pay the expenses of the
8 13 board and to administer the chapter. The director is also
8 14 required to develop and implement a grant application process,
8 15 develop and adopt by rule criteria for grant approval, and
8 16 monitor the allocation and use of grant moneys by qualified
8 17 organizations.
8 18 LSB 5286YH 79
8 19 kh/cls/14.3
Text: HF02287 Text: HF02289 Text: HF02200 - HF02299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
© 2002 Cornell College and League of Women Voters of Iowa
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