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NY S08255
Bill
Status
6/11/2025
Primary Sponsor
Jose Serrano
Click for details
AI Summary
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Renames the "New York state musical instrument revolving fund" to the "New York state music grant fund"
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Converts the fund's purpose from providing loans, leases, and purchases of musical instruments to providing direct grants to eligible not-for-profit symphony orchestras and musical entities
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Eliminates the previous complex structure requiring contracted not-for-profit entities to distribute funds, handle installment payments, and manage repossession of instruments in case of default
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Maintains the $500,000 cap on total state appropriations that can be deposited into the fund
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Removes annual reporting requirements to the Governor and legislative leaders that were required under the previous revolving fund structure
Legislative Description
Renames the New York state musical instrument revolving fund as the New York state music grant fund; broadens the use of such funds to be available as grants to not-for-profit symphony orchestras and/or other not-for-profit musical entities incorporated in the state and organized for the purpose of the presentation of performing arts and education in the performing arts for the benefit of the public and which have been approved pursuant to guidelines established by the council.
Last Action
REFERRED TO FINANCE
1/7/2026