N.Y. State Finance Law § 92-q*2: The institute for the Hudson River Collection fund

* § 92-q. The institute for the Hudson River Collection fund. 1. There

is hereby established in the custody of the state comptroller and the

commissioner of taxation and finance a fund to be known as the

"Institute for the Hudson River Collection fund." The Institute for the

Hudson River Collection shall administer the Institute for the Hudson

River Collection fund.

2. a. The Institute shall have the power to receive any moneys and

property from any source. It shall distribute funds as grants and

contracts to not-for-profit tax exempt entities for the purpose of

establishing, maintaining and furthering the cultural and artistic

interests of the Hudson river area.

b. No less than seventy-five percent of the total funds distributed in

any fiscal year shall be allocated to not-for-profit tax-exempt

providers for the purpose of establishing, maintaining and furthering

the cultural and artistic interests of the Hudson river area.

c. The remaining funds shall be allocated for services and expenses of

the Institute for the Hudson River Collection.

d. The Institute shall adopt rules and regulations for the

administration of the fund to carry out the purpose and provisions of

this section and of article ten of the arts and cultural affairs law.

Such regulations shall be adopted in accordance with article two of the

state administrative procedure act.

e. The Institute may employ and remove such personnel as it may deem

necessary for the performance of its functions and fix their

compensation within the amounts made available therefor and may allocate

funds for the actual and necessary nonpersonnel administrative costs of

the Institute. No more than ten percent of the funds available in any

fiscal year shall be spent on personnel and related services, and on

necessary nonpersonnel administrative costs of the Institute.

3. Moneys of the fund, following appropriation by the legislature, may

be expended for the purposes described in subdivision two of this

section. Moneys shall be paid out of the fund on the audit and warrant

of the state comptroller on vouchers certified or approved by the

commissioner of the state education department.

* NB There are 2 § 92-q's