Reference is to Printer's Date 3/20/18-S.
Amend the bill, as and if amended, by striking all after the enacting clause and inserting:
/ SECTION 1. Article 1, Chapter 1, Title 6 of the 1976 Code is amended by adding:
"Section 6-1-180.
(A) Notwithstanding another provision
of law, a special purpose district that has acquired a work of
art by gift, bequest, purchase, or other means, may transfer
ownership of the object:
(1)
to a nonprofit corporation organized for the purpose of
displaying works of art for the public; and
(2)
for the consideration and upon the terms the governing
body of the special purpose district, in its discretion, finds
to be sufficient and appropriate.
(B) A transfer of a
work of art by a special purpose district to a nonprofit
corporation pursuant to this section must be documented by
written agreement in which the nonprofit corporation must
covenant that money proceeds, if any, which arise from its
subsequent transfer of a work of art must be held by the
nonprofit corporation and expended solely in furtherance of its
purpose of displaying works of art for the public."
SECTION 2. This act takes effect upon approval by the Governor. /
Renumber sections to conform.
Amend title to conform.