Sec. 10-407. (Formerly Sec. 10-373p). Matching grants: Eligibility criteria, amounts.
Sec. 10-407. (Formerly Sec. 10-373p). Matching grants: Eligibility criteria,
amounts. (a) To be eligible for a matching grant for a fiscal year pursuant to this section
and section 10-408, total donor contributions for the fiscal year for which such amount
is calculated shall be not less than twenty-five thousand dollars.
(b) For the portion of total donor contributions for the fiscal year which is equal to
twenty-five thousand dollars or more but does not exceed the total donor contributions
for the prior fiscal year, there shall be a match of twenty-five per cent of such amount,
provided no match pursuant to this subsection shall exceed two hundred fifty thousand
dollars.
(c) For the portion of total donor contributions for the fiscal year which exceeds
the total donor contributions for the prior fiscal year, there shall be a match of one
hundred per cent of such amount, provided no match pursuant to this subsection shall
exceed one million dollars.
(d) If in any fiscal year the total amount of matching grants to be paid pursuant to
the provisions of this section and section 10-408, exceed the investment earnings of the
Arts Endowment Fund which are available for payments to arts organizations pursuant
to section 10-406, all such matching grants shall be reduced on a pro rata basis.
(P.A. 88-355, S. 4, 8; P.A. 89-237, S. 6, 11; P.A. 93-353, S. 42, 52; P.A. 94-245, S. 17, 46.)
History: P.A. 89-237 in Subsec. (b) changed the match for the portion of contributions equal to contributions for the
prior fiscal year to a match of the portion of contributions equal to $25,000 or more but not exceeding the contributions
for the prior fiscal year and in Subsec. (c) reduced the match for the portion of contributions which exceed contributions
for the prior fiscal year from two to 100% and provided no such match exceed $1,000,000; P.A. 93-353 changed the
terminology from commitment to grant and amended Subsec. (e) to substitute exceed the "investment earnings of" for
exceed the "balance in" and made technical changes, effective July 1, 1993; P.A. 94-245 deleted Subsec. (d) concerning
donor contributions to endowments for arts organizations and relettered the remaining Subsec., effective June 2, 1994;
Sec. 10-373p transferred to Sec. 10-407 in 2005.