Bill > S1293

Introduced Session

This bill would establish the Artist Bank as a program to provide interest free loans to artist colonies in development in municipalities, communities or other areas with an emerging art presence. The program would be administered by the New Jersey State Council on the Arts and would be funded by appropriations to the fund by the Legislature, as well as private donations. To qualify for a loan under this bill, the artist colony in development would be required to: (1) include at least five practicing artists with a demonstrable body of work or portfolio, as determined by the council; (2) designate a proposed location for the artist colony; (3) demonstrate that the proposed landlord or landowner is cooperative and supportive of the goals of the artist colony, as determined by the council; and (4) demonstrate the cooperation and application for the designation of artist colony from the municipality in which the artist colony is proposed. The use of a loan provided from the Artist Bank would be limited in use to start-up expenses of the artist colony in development, including, but not limited to: acquiring a location and necessary supplies for creating art; and ongoing operating expenses of the colony, including but not limited to: utilities, maintaining supplies and inventory, and marketing. Repayment of the loan would not begin until the artists have started demonstrating the financial success of their craft or until ten years have passed since the initial disbursement of the loan, whichever occurs first.

AI Summary

Committee Categories

Shirley Turner (D)*, 

Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee (on 02/10/2020)

Official Document