94-D - New York state collectible series fund. - New York Statutes

§ 94-d. New York state collectible series fund. 1. There is hereby established in the joint custody of the state comptroller and the commissioner of taxation and finance a fund to be known as the "New York state collectible series fund." 2. Such fund shall consist of all revenues received by the state from the sale of collectible memorabilia as provided for in section seventy-four-a of the state law. 3. Moneys in the fund, following appropriation by the legislature shall be administered by the education department for payment of grants to state and local museums, and to those public and association libraries, historical societies and archives that hold collections and/or artifacts relating to the state's history and heritage; provided, however that not more than five percent of such moneys may be utilized annually for the administrative expenses of such panel. Such expenses shall include the cost of informing the public of the availability of such memorabilia and advising local museums and libraries concerning this program.