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Sponsors
No co-sponsors yet.
History
- Substituted by A4544
- Advanced to third reading
- 2nd report cal.
- 1st report cal.407
- Referred to investigations and government operations
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Relates to the board of trustees of the trust for cultural resources of the city of New York
Signed by Governor · Sponsor Linda Rosenthal
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the arts and cultural affairs law, in relation to participation of trustees of the board of trustees of the Trust for Cultural Resources of the city of New York who concurrently serve as ex officio officers or board members of a participating cultural institution and the designation of a representative by the commissioner of cultural affairs of the city of New York to attend and vote at meetings of the board of trustees of the Trust for Cultural Resources
Summary of provisions
section 1 of the bill amends subdivision 3 of § 21.05 of the Arts and Cultural Affairs Law by providing that any person serving ex officio as a member of the board of trustees of the Trust for Cultural Resources of the city of New York (the "Trust") may also serve concurrently as an ex officio member of the board of trustees, or the equivalent body, of a participating cultural institution, providing that no more than one such person serves in other than an ex officio capacity. Further, such ex officio member of the board of trustees and of the participating cultural institution may participate in discussions and voting on matters pertaining to the participating cultural institution.
Section 2 of the bill adds subdivision 4 of § 21.05 of the Arts and Cultural Affairs Law by amending the title of the Deputy Mayor for Economic Development and Rebuilding and by authorizing the city's Commissioner of Cultural Affairs (the "Commissioner") as an ex-officio member of the board of trustees of the Trust to designate a person to attend and vote at meetings of the board of trustees from which he or she may be absent. Section 3 specifies that the act shall take effect immediately.
Read the full memo (638 words)
The Trust provides tax-exempt bonds, the proceeds of which benefit not-for-profit cultural institutions in supporting capital development, expansion or improvement projects. The Trust serves as an invaluable resource to the City's non-profit cultural organizations by supporting the restoration of landmark properties and significant construction development projects.
Reasons for support
Allowing the Commissioner to serve as an ex officio member of the board of trustees while concurrently serving on the board of trustees of the participating cultural institution will enhance the Trust's consideration of proposed development projects. The Commissioner oversees and coordinates the City's funding for cultural programs and capital projects, and thus has a unique and comprehensive understanding of the City's cultural organizations and their capacity for project undertakings. In turn, the Commissioner is able to provide valuable insight to the Trust's board of trustees in determining the impact and consequences of proposed improvements and development.
Further, the limitation on concurrent board service in subdivision 3 of § 20.09 of the Arts and Cultural Affairs Law was designed to address potential conflicts of interest for non-ex officio trustees serving on the board of trustees of both participating cultural institutions and the Trust. Although non-ex officio trustees of all cultural institutions are required to serve in the public interest, to avoid the appearance of self-interest, the Trust's enabling legislation required that non-ex officio trustees refrain from participating or voting on matters for which they have a duty of loyalty to a cultural institution that is seeking financing from the Trust. However, the rationale for prohibiting the participation of members of a participating cultural institution's board in the deliberations of the Trust's board is not applicable to a trustee serving ex officio such as the Commissioner. The Commissioner serves as on the board of trustees in an ex officio capacity solely for the purpose of representing the mayoral administration in which the Commissioner serves and, therefore, no personal allegiance or conflict of interest exists.
Fiscal implications
There is no fiscal impact.
Effective date
This bill shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.