S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3583
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 28, 2025
                                ___________
 
 Introduced  by M. of A. ROMERO, BARRETT, WOERNER, GLICK, LUCAS, SHIMSKY,
   DAVILA -- read once and referred to the Committee on  Tourism,  Parks,
   Arts and Sports Development
 
 AN ACT to amend the arts and cultural affairs law, in relation to estab-
   lishing  the  New  York  state museum partnership trust; and making an
   appropriation therefor

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Legislative findings and intent. The legislature finds that
 the  New York state museum is a vital interest of the state, enabling us
 to pass New York's past and present on to our  children  and  our  chil-
 dren's  children.  The  museum welcomes visitors to explore its rotating
 and permanent exhibitions. The museum also offers  educational  program-
 ming,  including  after-school  programs  that  have benefited more than
 4,000 students in the city of Albany. The museum is essential for educa-
 tion, public programs, and generating  tourism  and  economic  activity.
 Unfortunately,  present  conditions  inhibit  its  ability to thrive and
 serve New Yorkers to its fullest potential. Therefore, it is the purpose
 of this act to support the museum's operations and align  its  oversight
 structure  with  that  of  the  other  departments  under  the office of
 cultural education at the state education department. Both the New  York
 state  library  and the New York state archives benefit from the support
 of an affiliated trust that obtains non-state funding to supplement  the
 operations and programming of the library and archives, respectively. It
 is  time to bring the New York state museum in line with the other divi-
 sions of the office of cultural education at the state education depart-
 ment. To accomplish this, a New York state museum partnership  trust  is
 created  in  order  to: create an endowment to help collect and preserve
 art, historical items, objects  of  material  culture,  natural  history
 specimens,  and other objects that tell the story of the people who call
 New York home; make possible special projects and inform the citizens of
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06248-01-5
              

 A. 3583                             2
 
 New York about the exhibits and programs of the state museum;  and  work
 in  conjunction with the board of regents, the office of cultural educa-
 tion at the state education department, the commissioner  of  education,
 and the museum advisory council under the board of regents to advise and
 support the New York state museum.
   §  2.  The  arts  and  cultural affairs law is amended by adding a new
 title Q to read as follows:
 
                                  TITLE Q
                  NEW YORK STATE MUSEUM PARTNERSHIP TRUST
 
                                ARTICLE 45
                  NEW YORK STATE MUSEUM PARTNERSHIP TRUST
 
 SECTION 45.01. SHORT TITLE.
         45.03. DEFINITIONS.
         45.05. NEW YORK STATE MUSEUM PARTNERSHIP TRUST.
         45.07. PURPOSE AND POWERS OF TRUST.
         45.09. TEMPORARY ASSIGNMENT AND TRANSFER OF EMPLOYEES.
         45.11. AUTHORIZED EXPENDITURES.
         45.13. NEW YORK STATE MUSEUM PARTNERSHIP TRUST FUND.
         45.15. CREATION OF TRUST FOR A PUBLIC PURPOSE.
         45.17. MEMBERS AND EMPLOYEES NOT TO PROFIT.
   § 45.01. SHORT TITLE. THIS TITLE SHALL BE KNOWN AND MAY  BE  CITED  AS
 THE "NEW YORK STATE MUSEUM PARTNERSHIP TRUST ACT".
   § 45.03. DEFINITIONS.  FOR THE PURPOSES OF THIS ARTICLE, THE FOLLOWING
 TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   1. "TRUST" OR "CORPORATION" SHALL MEAN THE NEW YORK STATE MUSEUM PART-
 NERSHIP TRUST ESTABLISHED BY SECTION 45.05 OF THIS ARTICLE.
   2. "BOARD" SHALL MEAN THE MEMBERS OF THE CORPORATION APPOINTED  PURSU-
 ANT TO SECTION 45.05 OF THIS ARTICLE.
   3.  "TRUST  FUND" OR "FUND" SHALL MEAN THE NEW YORK STATE MUSEUM PART-
 NERSHIP TRUST FUND ESTABLISHED IN SECTION 45.13 OF THIS ARTICLE.
   § 45.05. NEW YORK STATE MUSEUM PARTNERSHIP TRUST. 1.  A  TRUST  TO  BE
 KNOWN  AS  THE  NEW YORK STATE MUSEUM PARTNERSHIP TRUST IS HEREBY ESTAB-
 LISHED.  SUCH TRUST SHALL BE GOVERNED BY A BOARD WHICH SHALL BE  A  BODY
 CORPORATE  AND POLITIC CONSTITUTING A PUBLIC BENEFIT CORPORATION AND ITS
 EXISTENCE SHALL COMMENCE UPON THE APPOINTMENT OF THE MEMBERS  AS  HEREIN
 PROVIDED.    SUCH  BOARD  SHALL  CONSIST  OF  TWENTY TOTAL MEMBERS TO BE
 APPOINTED AS FOLLOWS: FIVE  MEMBERS  APPOINTED  BY  THE  GOVERNOR;  FIVE
 APPOINTED BY THE BOARD OF REGENTS; FOUR APPOINTED BY THE MAJORITY LEADER
 OF  THE SENATE, TWO OF WHOM SHALL BE PRIVATE CITIZENS; FOUR APPOINTED BY
 THE SPEAKER OF THE ASSEMBLY, TWO OF WHOM SHALL BE PRIVATE CITIZENS;  AND
 ONE  APPOINTED  EACH  BY  MINORITY  LEADERS  OF THE SENATE AND ASSEMBLY.
 MEMBERS SHALL BE APPOINTED FOR  THEIR  INTEREST  IN  THE  ART,  HISTORY,
 CULTURE  AND NATURAL HISTORY OF NEW YORK; THEIR KNOWLEDGE AND EXPERIENCE
 REGARDING RESOURCES FOR CULTURAL AND  EDUCATIONAL  PROGRAMS;  AND  THEIR
 SUPPORT  FOR THE PURPOSES OF THE MUSEUM PARTNERSHIP TRUST. MEMBERS SHALL
 BE APPOINTED NO LATER THAN NINETY DAYS FOLLOWING AN  APPROPRIATION  MADE
 BY THE LEGISLATURE FOR THE PURPOSES OF THIS ARTICLE.
   2.  AT THE FIRST MEETING OF THE BOARD AND THE FIRST MEETING THEREOF IN
 EACH TWO FISCAL YEARS THEREAFTER, THE MEMBERS OF THE BOARD SHALL  CHOOSE
 FROM THEIR MEMBERS, A CHAIRPERSON AND VICE-CHAIRPERSON. INITIAL APPOINT-
 MENTS  SHALL  BE FOR STAGGERED TERMS; APPOINTMENTS BY THE GOVERNOR SHALL
 BE FOR THREE-YEAR TERMS; APPOINTMENTS BY THE LEGISLATIVE  LEADERS  SHALL
 BE FOR TWO-YEAR TERMS; APPOINTMENTS BY THE BOARD OF REGENTS SHALL BE FOR
 A. 3583                             3
 
 ONE-YEAR  TERMS. ALL SUBSEQUENT TERMS SHALL BE FOR THREE YEARS.  MEMBERS
 MAY BE REAPPOINTED AND MAY SERVE TWO CONSECUTIVE FULL TERMS, IN ADDITION
 TO THE TERM OF THE INITIAL APPOINTMENTS, BUT NOT MORE THAN EIGHT CONSEC-
 UTIVE  YEARS.  EACH  MEMBER SHALL CONTINUE IN OFFICE UNTIL SUCH MEMBER'S
 SUCCESSOR HAS BEEN APPOINTED AND QUALIFIES. SUCH CONTINUATION IN  OFFICE
 SHALL  NOT  BE  COUNTED IN DETERMINING WHETHER A MEMBER HAS SERVED EIGHT
 CONSECUTIVE YEARS. IN THE EVENT OF A VACANCY OCCURRING IN THE OFFICE  OF
 ANY MEMBER, OTHER THAN BY THE EXPIRATION OF A MEMBER'S TERM, SUCH VACAN-
 CY SHALL BE FILLED FOR THE BALANCE OF THE UNEXPIRED TERM, IF APPLICABLE,
 IN  THE SAME MANNER AS THE ORIGINAL APPOINTMENT. MEMBERS FROM GOVERNMENT
 SHALL BE REPLACED IF THEY LEAVE  GOVERNMENT  SERVICE;  A  NEW  APPOINTEE
 SHALL  SERVE  FOR  THE UNEXPIRED TERM OF THE DEPARTING MEMBER AND MAY BE
 REAPPOINTED.
   3. A MAJORITY OF THE WHOLE NUMBER OF  MEMBERS  THEN  IN  OFFICE  SHALL
 CONSTITUTE  A QUORUM FOR THE TRANSACTION OF ANY BUSINESS OR THE EXERCISE
 OF ANY POWER OF THE BOARD. EXCEPT AS OTHERWISE SPECIFIED IN  THIS  ARTI-
 CLE, FOR THE TRANSACTION OF ANY BUSINESS OR THE EXERCISE OF ANY POWER OF
 THE  BOARD,  THE  BOARD SHALL HAVE POWER TO ACT BY A MAJORITY OF MEMBERS
 PRESENT AT ANY MEETING AT WHICH A QUORUM IS IN ATTENDANCE. THE BOARD MAY
 DELEGATE TO ONE OR MORE OF ITS MEMBERS, OR TO ITS OFFICERS,  AGENTS  AND
 EMPLOYEES,  OR TO ITS EXECUTIVE COMMITTEE, SUCH POWERS AND DUTIES AS THE
 BOARD MAY DEEM PROPER. THE MEMBERS OF  THE  BOARD  SHALL  SERVE  WITHOUT
 COMPENSATION, BUT SHALL BE ENTITLED TO REIMBURSEMENT OF THEIR ACTUAL AND
 NECESSARY EXPENSES INCURRED IN THE PERFORMANCE OF THEIR OFFICIAL DUTIES.
   4.  NOTWITHSTANDING  ANY  INCONSISTENT  PROVISION OF THIS OR ANY OTHER
 LAW, GENERAL, SPECIAL OR LOCAL, NO OFFICER OR EMPLOYEE OF THE STATE,  OR
 OF  ANY  PUBLIC  CORPORATION AS DEFINED IN THE GENERAL CONSTRUCTION LAW,
 SHALL BE DEEMED TO HAVE FORFEITED  OR  SHALL  FORFEIT  THEIR  OFFICE  OR
 EMPLOYMENT  OR  ANY  BENEFITS  PROVIDED  UNDER THE RETIREMENT AND SOCIAL
 SECURITY LAW OR UNDER ANY PUBLIC RETIREMENT  SYSTEM  MAINTAINED  BY  THE
 STATE  OR  ANY  OF  ITS  SUBDIVISIONS  BY  REASON OF THEIR ACCEPTANCE OF
 MEMBERSHIP ON OR CHAIRSHIP OF THE BOARD.
   5. THE TRUST AND ITS CORPORATE EXISTENCE SHALL CONTINUE  UNTIL  TERMI-
 NATED  BY  LAW, PROVIDED, HOWEVER, THAT NO SUCH LAW SHALL TAKE EFFECT SO
 LONG AS  THE  TRUST  SHALL  HAVE  BONDS,  NOTES  AND  OTHER  OBLIGATIONS
 OUTSTANDING,  UNLESS  ADEQUATE  PROVISION  HAS BEEN MADE FOR THE PAYMENT
 THEREOF IN THE DOCUMENTS SECURING THE  SAME.  UPON  TERMINATION  OF  THE
 EXISTENCE  OF THE TRUST, ALL ITS RIGHTS AND PROPERTIES SHALL VEST IN THE
 STATE.
   § 45.07. PURPOSE AND POWERS OF TRUST. 1.  THE  PURPOSE  OF  THE  TRUST
 SHALL BE TO SERVE AS A FOCAL POINT FOR THE RECEIPT AND ADMINISTRATION OF
 PRIVATE  GIFTS,  DEVISES  AND  BEQUESTS  OF  REAL  AND PERSONAL PROPERTY
 DONATED TO USE THE ARTS, HISTORY, AND MATERIAL CULTURE TO HELP NEW YORK-
 ERS AND VISITORS UNDERSTAND THE WORLD IN WHICH WE LIVE, AND  TO  OVERSEE
 AND  SUPPORT  THE STATE MUSEUM IN CONJUNCTION WITH THE BOARD OF REGENTS,
 THE OFFICE OF CULTURAL EDUCATION AT THE  DEPARTMENT  OF  EDUCATION,  THE
 COMMISSIONER  OF  EDUCATION,  AND  THE MUSEUM ADVISORY COUNCIL UNDER THE
 BOARD OF REGENTS.
   2. TO CARRY OUT SUCH PURPOSES UNDER SUBDIVISION ONE OF  THIS  SECTION,
 THE TRUST SHALL:
   (A) OVERSEE, AND PARTICIPATE ACTIVELY IN, A CAMPAIGN TO SECURE PRIVATE
 AND PUBLIC FUNDS TO CREATE AN INITIAL ENDOWMENT;
   (B) REVIEW AND APPROVE A BUDGET REQUEST AND WORK PLAN ANNUALLY FOR THE
 OPERATION  OF  THE  BOARD  AND FOR THE USE OF TRUST FUNDS TO SUPPORT THE
 PURPOSES OF THE TRUST FUND; AND
 A. 3583                             4
 
   (C) REPORT TO THE GOVERNOR AND THE LEGISLATURE AT  LEAST  EVERY  THREE
 YEARS AS TO THE ACTIVITIES OF THE TRUST INCLUDING INFORMATION PERTAINING
 TO FUND RAISING, EXPENDITURES AND PROJECTS UNDERTAKEN AND THE SUFFICIEN-
 CY  OF  THE  PRINCIPAL  TO  GENERATE  INTEREST  ADEQUATE  TO ACHIEVE THE
 PURPOSES OF THE TRUST.
   3. THE TRUST SHALL HAVE THE POWER:
   (A)  TO  MAKE  AND  ADOPT OFFICIAL BYLAWS FOR THE MANAGEMENT AND REGU-
 LATION OF ITS AFFAIRS PROVIDED THAT SUCH  BYLAWS  SHALL  ONLY  BE  MADE,
 ADOPTED  OR  AMENDED BY A MAJORITY OF THE WHOLE NUMBER OF THE MEMBERS OF
 THE BOARD THEN IN OFFICE;
   (B) TO CONTRACT FOR AND TO ACCEPT ASSISTANCE, INCLUDING BUT NOT LIMIT-
 ED TO UNCONDITIONAL GIFTS, DEVISES AND BEQUESTS, AND, WITH THE  APPROVAL
 OF  THE  GOVERNOR,  CONDITIONAL  GIFTS, DEVISES AND BEQUESTS, OF REAL OR
 PERSONAL PROPERTY FOR  ART,  MATERIAL  CULTURE,  HISTORIC  PRESERVATION,
 NATURAL  HISTORY  STUDIES, ENVIRONMENTAL EDUCATION AND TO ADMINISTER AND
 EXPEND FUNDS MADE AVAILABLE TO THE CORPORATION FOR ANY OF ITS PURPOSES;
   (C) TO MAKE AND EXECUTE CONTRACTS AND ALL OTHER INSTRUMENTS  NECESSARY
 OR  CONVENIENT  FOR  THE EXERCISE OF ITS POWERS AND FUNCTIONS UNDER THIS
 ARTICLE;
   (D) TO APPOINT OFFICERS, AGENTS AND  EMPLOYEES,  AND  PRESCRIBE  THEIR
 DUTIES AND QUALIFICATIONS AND FIX THEIR COMPENSATION;
   (E) TO CONTRACT FOR PROFESSIONAL AND TECHNICAL ASSISTANCE AND ADVICE;
   (F)  TO  PROVIDE  IN  ITS OFFICIAL BYLAWS FOR THE HOLDING OF AN ANNUAL
 MEETING, AT WHICH ANNUAL MEETING A MAJORITY OF THE WHOLE NUMBER  OF  THE
 MEMBERS  OF  THE BOARD THEN IN OFFICE MAY TRANSACT ANY BUSINESS OR EXER-
 CISE ANY POWER OF THE BOARD;
   (G) TO INVEST AND REINVEST MONEYS AS PROVIDED IN THIS ARTICLE  AND  TO
 ENTER INTO AGREEMENTS WITH THE STATE COMPTROLLER CONCERNING THE TRANSFER
 OF MONEYS AMONG THE VARIOUS ACCOUNTS;
   (H) TO CREATE COMMITTEES, INCLUDING AN EXECUTIVE COMMITTEE COMPOSED OF
 NOT  FEWER  THAN  FIVE MEMBERS OF THE BOARD INCLUDING ONE OF THE MEMBERS
 APPOINTED BY THE GOVERNOR, ONE OF THE MEMBERS APPOINTED BY THE  MAJORITY
 LEADER OF THE SENATE, ONE OF THE MEMBERS APPOINTED BY THE SPEAKER OF THE
 ASSEMBLY  AND  ONE OF THE MEMBERS APPOINTED BY THE BOARD OF REGENTS, AND
 SPECIAL COMMITTEES, TO CARRY OUT ITS BUSINESS EFFECTIVELY AND  MAY  ALSO
 CREATE  TASK FORCES, REGIONAL CAMPAIGN COMMITTEES, AND OTHER BODIES MADE
 UP OF INDIVIDUALS BEYOND ITS OWN MEMBERS TO ASSIST IN THE  WORK  OF  THE
 BOARD;
   (I) TO EXERCISE AND PERFORM SUCH OTHER POWERS AND DUTIES AS SHALL HAVE
 BEEN OR MAY BE FROM TIME TO TIME CONFERRED BY LAW;
   (J)  TO  PARTICIPATE AND COOPERATE WITH OTHER PUBLIC AND PRIVATE AGEN-
 CIES HAVING MUTUAL INTERESTS AND PURPOSES IN  APPROPRIATE  PROGRAMS  AND
 PROJECTS INTENDED TO PRESERVE AND IMPROVE THE HISTORY, ARTS AND CULTURAL
 RESOURCES  OF THE NEW YORK STATE MUSEUM IN FURTHERANCE OF THE EDUCATION,
 WELFARE AND ENJOYMENT OF ITS PEOPLE;
   (K) TO SUE AND BE SUED; AND
   (L) TO DO ALL THINGS NECESSARY OR CONVENIENT TO CARRY OUT THE PURPOSES
 OF THIS ARTICLE.
   § 45.09. TEMPORARY ASSIGNMENT AND TRANSFER OF EMPLOYEES.  WHENEVER  IN
 THE  OPINION  OF  THE  BOARD IT WOULD BE IN THE PUBLIC INTEREST, IT MAY,
 AFTER PRIOR APPROVAL OF THE DIRECTOR OF THE BUDGET, REQUEST  THE  TEMPO-
 RARY  ASSIGNMENT  AND  TRANSFER OF CERTAIN EMPLOYEES OF ANY OTHER BOARD,
 COMMISSION, AGENCY OR DEPARTMENT OF THE STATE OR ITS POLITICAL  SUBDIVI-
 SIONS, AND SUCH OTHER BOARD, COMMISSION, AGENCY OR DEPARTMENT, IF IN ITS
 OPINION  SUCH  TRANSFER  WILL  NOT INTERFERE WITH THE PERFORMANCE OF ITS
 DUTIES AND FUNCTIONS MAY MAKE  SUCH  ASSIGNMENT  AND  TRANSFER  OF  SUCH
 A. 3583                             5
 
 EMPLOYEES TO THE TRUST. SUCH ASSIGNMENT AND TRANSFER OR EXTENSION THERE-
 OF  SHALL  NOT IN ANY WAY AFFECT THE CIVIL SERVICE STATUS, CONTINUITY OF
 SERVICE, RETIREMENT PLAN STATUS, RIGHT TO COMPENSATION, GRADE OR COMPEN-
 SATION OR OTHER RIGHTS OR PRIVILEGES OF ANY EMPLOYEE SO TRANSFERRED.
   § 45.11. AUTHORIZED EXPENDITURES. THE TRUST MAY MAKE EXPENDITURES FROM
 THE  TRUST  FUND,  SUBJECT TO AVAILABILITY OF FUND MONIES, PROVIDED SUCH
 EXPENDITURES ARE WITHIN A BUDGET APPROVED  BY  THE  BOARD  AND  ARE  NOT
 OTHERWISE RESTRICTED BY LAW, FOR THE FOLLOWING PURPOSES:
   1.  SUPPORT  FOR  A DEVELOPMENT CAMPAIGN TO OBTAIN DONATIONS FROM NON-
 STATE GOVERNMENT SOURCES INCLUDING PRIVATE CITIZENS, FOUNDATIONS, ORGAN-
 IZATIONS AND THE FEDERAL GOVERNMENT AND FOR EXPENSES  FOR  THE  MEETINGS
 AND OPERATION OF THE BOARD AND THE TRUST;
   2.  INTERNSHIPS  TO  STUDENTS  IN NEW YORK STATE WHO ARE PREPARING FOR
 CAREERS IN MUSEUMS AND FELLOWSHIPS TO  EXPERT  PRACTITIONERS  IN  MUSEUM
 PRESERVATION  AND  CURATION AND EDUCATIONAL PROGRAMS UNDER THE DIRECTION
 OF THE PROFESSIONAL STAFF OF THE NEW YORK STATE MUSEUM;
   3. HIRING AN EXECUTIVE DIRECTOR TO ADMINISTER THE FUNDS OF THE  TRUST,
 WHICH  MAY INCLUDE THE HIRING OF EXPERT STAFF IN PRESERVATION, CURATION,
 AND PUBLIC AND EDUCATIONAL PROGRAMS; AND
   4. PURCHASE OF SUPPLIES AND SERVICES AND PURCHASE OR LEASE  OF  EQUIP-
 MENT NEEDED FOR ACTIVITIES AUTHORIZED BY THIS ARTICLE.
   § 45.13. NEW  YORK  STATE  MUSEUM  PARTNERSHIP TRUST FUND. 1. THERE IS
 HEREBY ESTABLISHED IN THE CUSTODY OF THE TRUST  A  SPECIAL  FUND  TO  BE
 KNOWN  AS  THE "NEW YORK STATE MUSEUM PARTNERSHIP TRUST FUND". THE TRUST
 SHALL ESTABLISH THE FOLLOWING THREE SEPARATE AND DISTINCT ACCOUNTS WITH-
 IN THE NEW YORK STATE  MUSEUM  PARTNERSHIP  TRUST  FUND:  THE  ENDOWMENT
 ACCOUNT,  AND  THE  SPECIAL  PROJECT ACCOUNT, WHICH SHALL EACH BE IN THE
 CUSTODY OF THE TRUST, AND THE OPERATION AND MAINTENANCE  ACCOUNT,  WHICH
 SHALL  BE  IN THE JOINT CUSTODY OF THE STATE COMPTROLLER AND THE COMMIS-
 SIONER OF TAXATION AND FINANCE.
   2. MONEYS IN THE TRUST FUND SHALL CONSIST OF  APPROPRIATIONS  THEREFOR
 AND DONATIONS WHICH MAY INCLUDE ANY FORM OF EQUITY, FIXED INCOME SECURI-
 TIES,  INSURANCE  OR ANY OTHER ASSET CONVERTIBLE INTO CASH, AND EARNINGS
 THEREON.   PURSUANT TO AGREEMENTS MADE AT  LEAST  ANNUALLY  BETWEEN  THE
 TRUST  BOARD  AND THE STATE COMPTROLLER, THE TRUST SHALL TRANSFER SUFFI-
 CIENT FUNDS FROM THE ENDOWMENT ACCOUNT TO THE OPERATION AND  MAINTENANCE
 ACCOUNT FOR THE TIMELY PAYMENT OF ESTIMATED COSTS AND OPERATING EXPENSES
 PURSUANT TO BUDGETS ADOPTED BY THE TRUST.
   3.  EARNINGS FROM THE ENDOWMENT ACCOUNT MAY BE USED BY THE TRUST BOARD
 FOR ITS OPERATION AND FOR THE OTHER PURPOSES AUTHORIZED IN THIS ARTICLE.
 MONEYS IN THE ENDOWMENT ACCOUNT, AND EARNINGS THEREON, MAY  BE  INVESTED
 AND  REINVESTED  BY THE TRUST BOARD CONSISTENT WITH THE PRUDENT INVESTOR
 STANDARD OF SECTION 11-2.3 OF THE ESTATES, POWERS  AND  TRUSTS  LAW  AND
 PURSUANT TO THE PROVISIONS OF SECTION TWENTY-NINE HUNDRED TWENTY-FIVE OF
 THE PUBLIC AUTHORITIES LAW. THE TRUST BOARD SHALL GIVE DUE CONSIDERATION
 TO  BALANCING THE LONG-TERM GROWTH OF THE ENDOWMENT, LONG-TERM TRENDS OF
 THE ECONOMY AND THE NEEDS OF TRUST OPERATIONS  AND  THE  STATE  ARCHIVES
 WITH  THE GOAL THAT THE ENDOWMENT SHALL PROVIDE A PERMANENT, GROWING AND
 VIABLE SOURCE OF FUNDS TO FULFILL THE TRUST PURPOSES.  THE  TRUST  BOARD
 SHALL OBTAIN AN ANNUAL INDEPENDENT AUDIT AND AUDITED FINANCIAL STATEMENT
 OF THE BOOKS AND ACCOUNTS OF THE TRUST, BY A CERTIFIED ACCOUNTING FIRM.
   4.  MONEYS  IN  THE SPECIAL PROJECT ACCOUNT SHALL BE USED FOR CARRYING
 OUT THE SPECIAL PROJECTS DESIGNATED IN THE DONATION THEREOF.
   5. THE TRUST IS INTENDED TO SUPPLEMENT, NOT REPLACE OR REDUCE, REGULAR
 STATE APPROPRIATIONS TO THE STATE MUSEUM. THE STATE MAY MATCH THE  FIRST
 A. 3583                             6
 
 FIVE MILLION DOLLARS DONATED TO THE ENDOWMENT ACCOUNT IN ANY FISCAL YEAR
 FOLLOWING THE RECEIPT OF MONEYS.
   § 45.15. CREATION  OF  TRUST FOR 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 AND IMPROVEMENT OF
 THE HISTORY, ARTS AND CULTURAL RESOURCES THROUGH THE STATE  MUSEUM,  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 ARTICLE AND THE TRUST SHALL NOT BE REQUIRED TO PAY TAXES OR ASSESS-
 MENTS 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 CORPORATION. ALL CONTRIBUTIONS OF REAL OR PERSONAL PROPERTY 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  SUBDI-
 VISION THEREOF.
   § 45.17. MEMBERS  AND  EMPLOYEES  NOT TO PROFIT. NO OFFICER, MEMBER OR
 EMPLOYEE OF THE TRUST SHALL RECEIVE  OR  MAY  BE  LAWFULLY  ENTITLED  TO
 RECEIVE  ANY  PECUNIARY PROFIT FROM THE OPERATION THEREOF EXCEPT REASON-
 ABLE COMPENSATION FOR SERVICES IN EFFECTING ONE OR MORE OF ITS  PURPOSES
 SET FORTH UNDER THIS ARTICLE.
   §  3.  The  sum  of  two hundred fifty thousand dollars ($250,000), is
 hereby appropriated to the  New  York  state  museum  partnership  trust
 established pursuant to section one of this act out of any moneys in the
 state  treasury  general  fund to the credit of the board of such trust,
 not otherwise appropriated, and  made  immediately  available,  for  the
 purpose  of  hiring  an  executive director of the New York state museum
 partnership trust. Such moneys shall be payable on the audit and warrant
 of the comptroller on vouchers certified or approved  by  the  New  York
 state museum partnership trust in the manner prescribed by law.
   § 4. This act shall take effect immediately.