Sec. 10-406. (Formerly Sec. 10-373o). Connecticut Arts Endowment Fund.
Sec. 10-406. (Formerly Sec. 10-373o). Connecticut Arts Endowment Fund.
There is created a "Connecticut Arts Endowment Fund". The proceeds of any bonds
issued for the purposes of sections 10-405 to 10-408, inclusive, shall be deposited in
said fund. The State Treasurer shall invest the proceeds of the fund and the investment
earnings shall be credited to and become part of the fund. Annually, on or before September first, the Treasurer shall notify the commission of the total amount of investment
earnings of the fund for the prior fiscal year and such amount shall be available to
the commission for payments pursuant to sections 10-407 and 10-408. Any balance
remaining in the fund at the end of each fiscal year shall be carried forward in the fund
for the succeeding fiscal year.
(P.A. 88-355, S. 2, 8; P.A. 93-353, S. 41, 52; 93-435, S. 22, 95.)
History: P.A. 93-353 substituted reference to Sec. 10-373q for reference to Sec. 10-373r and added provision requiring
the treasurer to notify the commission of the total amount of investment earnings of the fund for the prior fiscal year and
specifying that such amount be available for payments, effective July 1, 1993; P.A. 93-435 duplicated section reference
change made in P.A. 93-353, effective June 28, 1993; Sec. 10-373o transferred to Sec. 10-406 in 2005.