(1) There is created within the General Fund a restricted account known as the Arts and Culture Business Alliance Account.
(2) The account shall be administered by the division for the purposes listed in Subsection (5).
(3) (a) The account shall earn interest. (b) All interest earned on account money shall be deposited into the account.
(a) The account shall earn interest.
(b) All interest earned on account money shall be deposited into the account.
(4) The account shall be funded by: (a) appropriations made to the account by the Legislature; and (b) private donations and grants.
(a) appropriations made to the account by the Legislature; and
(b) private donations and grants.
(5) Subject to appropriation, the director shall use account funds to pay for: (a) the statewide advancement and development of the arts in accordance with the recommendation of the alliance; and (b) actual administrative costs associated with administering this part.
(a) the statewide advancement and development of the arts in accordance with the recommendation of the alliance; and
(b) actual administrative costs associated with administering this part.
(6) The division shall submit an annual written report to the department that gives a complete accounting of the use of money from the account for inclusion in the annual report described in Section 9-1-208.
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