BILL NUMBER: S8255
SPONSOR: SERRANO
 
TITLE OF BILL:
An act to amend the state finance law, in relation to the New York state
musical instrument revolving fund
 
PURPOSE OF THE BILL:
An act to amend the finance law, in relation to the New York State coun-
cil on the arts.
 
SUMMARY OF PROVISIONS:
To amend the Section 97-v of the finance law to allow unused funds to be
designated for the not-for-profit musical entities across the state.
 
JUSTIFICATION:
The proposed changes will allow currently unused funds currently desig-
nated for the use of ARTS to issue loans for the purchase of musical
instruments to be used by ARTS to award grants through its Support for
Organizations opportunity to not-for-profit music entities (e.g.,
symphony orchestras, music performance ensembles, music presenting
organizations, music education organizations) incorporated in New York
State.
 
PRIOR LEGISLATIVE HISTORY:
ARTS 02-25 was approved for introduction in 2021 (Arts 02-21) and no
action was taken by the Legislature.
 
FISCAL IMPLICATIONS:
None known.
 
EFFECTIVE DATE:
Immediately.