NRS233C.095. Creation; purpose; investment; acceptance of gifts, grants and donations for deposit in Account; transfer of money from Account to meet obligations of State.

      1.  The Nevada Cultural Account is hereby created in the State General Fund. The purposes of the Account 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 Account 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 Account is a continuing account without reversion. The money in the Account must be invested as the money in other state accounts is invested. The interest and income earned on the money in the Account, after deducting any applicable charges, must be credited to the Account. Claims against the Account 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 Account.

      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 Account 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 Account 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; 2011, 442)