N.Y. Arts and Cultural Affairs Law § 54.15: Creation of trust a public purpose

§ 54.15. Creation of trust a public purpose. It is hereby found,

determined and declared that the creation of the trust and the carrying

out of its corporate purposes is in all respects for the benefit of the

people of the state of New York, for the preservation, improvement and

promotion of the executive mansion as a historical and cultural resource

of the state of New York, and is a public purpose, in that the trust

will be performing an essential governmental function in the exercise of

the powers conferred upon it by this title and the trust shall not be

required to pay taxes or assessments upon any of the property acquired

by it or under its jurisdiction and control, or upon its activities in

the operation and maintenance of such properties or use of any moneys,

revenues or other income received by the trusts. All contributions made

to the trust whether by gift, devise or bequest shall qualify as

deductions in computing the net taxable income of the donor for the

purposes of any income tax imposed by the state or any political

subdivision thereof. The trust is authorized to seek exemption for

federal tax purposes.