Bill > H3587

This bill introduces a comprehensive framework for municipalities to establish Municipal Creative Space Trust Funds, designed to support and preserve spaces for artists, creative workers, and artisans. The legislation defines "creative space" as areas primarily used for creating and practicing art, culture, and creative expression, and "presentation space" as venues for showcasing artistic works. The bill allows cities and towns to create a trust fund with a board of trustees that includes local government officials and representatives from cultural councils or arts committees. The trust fund would have broad powers to accept donations, purchase and sell property, borrow money, and manage assets specifically aimed at supporting creative spaces. Trustees can acquire real estate, develop affordable live/work spaces for artists, and create mechanisms to restrict property resale prices to maintain affordability for low and moderate-income creative professionals. The trust would operate with significant financial flexibility, be considered a public entity, and be exempt from certain tax regulations. Importantly, the bill provides a local option for municipalities to opt into this program, giving communities a tool to intentionally preserve and develop spaces that support the creative economy and cultural development.

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https://malegislature.gov/Bills/194/H3587