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An Act Regarding the Maine Arts Commission
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 27 MRSA §405, as amended by PL 2013, c. 181, §1, is further amended to read:
§ 405.Hearings; contracts
The Maine Arts Commission is authorized and empowered to hold public and private hearings,; to enter into contracts, within the limit of funds available, with individuals or organizations, and institutions for services furthering the educational objectives of the commission's programs; to enter into contracts, within the limit of funds available, with local and regional associations for cooperative endeavors furthering the educational objectives of the commission's programs; to establish and administer an endowment fund; to accept gifts, contributions and bequests of funds from individuals, foundations, corporations and other organizations or institutions for the purpose of furthering the commission's mission; to make and sign any agreements; and to do and perform any acts that are necessary to carry out the purposes of this chapter. Any funds, if given as an endowment, must be invested by the Treasurer of State according to the laws governing the investment of trust funds. As determined by the Director of the Maine Arts Commission, with the approval of the commission, the endowment's principal and interest may be used to further the commission's mission, as long as the endowment funds are used only for the purposes for which the endowment is established in accordance with the intent of the donor. The commission may request and receive from any department, division, board, bureau, commission or agency of the State such assistance and data as necessary to carry out its powers and duties.
 
SUMMARY
This bill removes language that requires the Treasurer of State to invest funds given as an endowment for the Maine Arts Commission. It allows the Maine Arts Commission to administer its endowment fund.