233C.095 - Creation; purpose; investment; acceptance of gifts, grants and donations for deposit in Fund; transfer of money from Fund to meet obligations of State. - Nevada Statutes

233C.095  Creation; purpose; investment; acceptance of gifts, grants and donations for deposit in Fund; transfer of money from Fund to meet obligations of State.

      1.  The Nevada Cultural Fund is hereby created as a special revenue fund. The purposes of the Fund are to:

      (a) Ensure a stable and healthy cultural climate in this state;

      (b) Advance and promote a meaningful role of the arts and humanities in the lives of individual persons, families and communities throughout this state; and

      (c) Stimulate the provision of additional funding from private sources to carry out the provisions of paragraphs (a) and (b).

Ê The money in the Fund must be used to augment and must not be used to replace or supplant any legislative appropriations to the Division.

      2.  Except as otherwise provided in subsection 4, the Fund is a continuing fund without reversion. The money in the Fund must be invested as the money in other state funds is invested. The interest and income earned on the money in the Fund, after deducting any applicable charges, must be credited to the Fund. Claims against the Fund must be paid as other claims against the State are paid.

      3.  The Division may accept gifts, grants and donations from any source for deposit in the Fund.

      4.  The State Board of Examiners may, upon making a determination that any portion of any amount appropriated by the Legislature for deposit in the Fund is necessary to meet existing or future obligations of the State, recommend to the Interim Finance Committee that the amount so needed be transferred from the Fund to the State General Fund. Upon approval of the Interim Finance Committee, the money may be so transferred.

      (Added to NRS by 2001, 2973; A 2003, 634)