Bill > S1916

This bill establishes the Culture & Company Investment Corporation Law, referred to as "CCIC's Law," which aims to foster the growth of Massachusetts' commercial artist community and boost tourism through cultural development. The law proposes the creation of a Culture & Company Investment Corporation Trust, managed by a Commissioner, to collect and transact unused currency, with a significant $100 billion compact to support statewide cultural initiatives. This trust will be responsible for administering funds for projects in areas like museums, education, and cultural exhibits, with a specific appropriation of $1 billion for statewide museum projects, including a designated grant for the Massachusetts Museum of Culinary Art to develop a culinary art tourism program. The CCIC Trust will also collect interest, report its financial activities to the state and the public, and process applications for grants and contracting opportunities for artists to enhance the Massachusetts cultural experience and attract global tourism.