HOUSE OF REPRESENTATIVES	H.B. NO.	1938
THIRTY-SECOND LEGISLATURE, 2024
STATE OF HAWAII

A BILL FOR AN ACT

 

 

relating to the state foundation on culture and the arts.

 

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 

     SECTION 1.  Chapter 9, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:

     "§9-     Works of art; sale.  (a)  The foundation may sell works of art purchased by the foundation, including works of art purchased using moneys from the works of art special fund; provided that:

     (1)  The sale of any work of art shall only occur after the death of the artist or artists who created the work of art; and

     (2)  The work of art shall be sold at a fair market value, as determined by a third-party appraiser.

     (b)  The proceeds of the sale of any work of art purchased using moneys from the works of art special fund shall be deposited into the works of art special fund."

     SECTION 2.  Section 103-8.5, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:

     "(a)  There is created a works of art special fund, into which shall be [transferred one] deposited:

     (1)  One per cent of all state fund appropriations for capital improvements designated for the construction cost element; provided that this transfer shall apply only to capital improvement appropriations that are designated for the construction or renovation of state buildings[.  The]; provided further that the one per cent transfer requirement shall not apply to appropriations from the passenger facility charge special fund established by section 261-5.5 and the rental motor vehicle customer facility charge special fund established under section 261-5.6[.]; and

     (2)  The proceeds from the sale of any works of art pursuant to section 9-   ."

     SECTION 3.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 4.  This Act shall take effect upon its approval.

 

INTRODUCED BY:	_____________________________

 

 

Report Title:

State Foundation on Culture and the Arts; Works of Art; Sale

 

Description:

Permits the State Foundation on Culture and the Arts to sell artwork purchased with moneys from the works of art special funds as long as the artist or artists who created the work has died and the work is sold at a fair market value as determined by a third-party appraiser.  Requires the proceeds of any sale of artwork purchased using moneys from the works of art special fund to be deposited into the works of art special fund.

 

 

 

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