Oregon Statutes 359.426 – Percentage that may be disbursed; allowable uses
(1) Under the direction of the Trust for Cultural Development Board, each fiscal year the Arts Program shall disburse no less than 50 percent, but no more than 60 percent, of all moneys raised for and deposited in the Trust for Cultural Development Account during the previous fiscal year, and all interest earned on the moneys, as of July 1.
Terms Used In Oregon Statutes 359.426
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(2) The amount determined under subsection (1) of this section shall be distributed as follows:
(a) 50 percent to the preservation of, stabilization of and investment in Oregon’s cultural resources through the Cultural Development Grant Program as provided under ORS § 359.431.
(b) 25 percent to Oregon’s counties and to the nine federally recognized Indian tribes through the Community Cultural Participation Grant Program as provided under ORS § 359.436.
(c) 25 percent to the core partner agencies as provided under ORS § 359.441.
(3) Each fiscal year, the Arts Program shall assess the total value of the Trust for Cultural Development Account for the previous fiscal year and may distribute up to five percent of that value for administrative purposes, including:
(a) Supporting the operations of the Trust for Cultural Development Board and the Trust for Cultural Development Account;
(b) Facilitating technical assistance;
(c) Local cultural planning; and
(d) Other activities that encourage cultural activity. [2001 c.954 § 9; 2003 c.713 § 11; 2015 c.668 § 4; 2023 c.552 § 1]