New Jersey § 52:16a-73

§ 52:16a-73.

The Legislature finds and declares that: a. Arts, history, and humanities contribute immeasurably to the quality of life in

New Jersey, to the tourism industry and the economy, to the health and vitality of

our cities, towns, and neighborhoods, to sound education, to the teaching of tolerance

and understanding, and to the celebration of our rich cultural diversity and identity. b. Hundreds of nonprofit cultural organizations in this State play an invaluable role

in ensuring that the benefits of the arts, history, and humanities are extended to

the people and communities of New Jersey. c. These nonprofit cultural organizations work diligently and responsibly to carry

out their vital missions. However, as a whole, they are undercapitalized, which makes them vulnerable to economic

downturns. Therefore, in order to ensure a stable and healthy cultural climate in this State

that is sustainable for years to come and under fluctuating economic conditions, the

Legislature hereby creates the New Jersey Cultural Trust and directs the establishment

of a permanent, interest-generating fund to be an additional source of revenue to

nonprofit arts, history, and humanities organizations, specifically for the building

of endowments, the improvement of institutional and financial stability, and the capital

improvement of cultural facilities.