Establishes a Rhode Island creative futures fund in the amount of eighteen million dollars ($18,000,000).
Impact
This initiative will directly impact the nonprofit sector in Rhode Island, particularly arts and cultural organizations that were significantly affected by the pandemic. By allocating a substantial amount of financial resources to these organizations, S2985 seeks to help them regain their footing and return to pre-pandemic operational levels. The bill specifies that funds must be distributed quickly, with a deadline for ARPA funds allocation set for December 30, 2024, and expenditure by December 30, 2026. Such timeline imposes a sense of urgency on the recovery efforts for involved stakeholders.
Summary
S2985 establishes a Rhode Island Creative Futures Fund with a total allocation of eighteen million dollars ($18,000,000). The fund aims to provide financial support to nonprofit arts and cultural organizations that have experienced economic hardship due to the COVID-19 pandemic. It is funded through American Rescue Plan Act (ARPA) resources, general assembly appropriations, and potentially through a general obligation bond ratified by the voters. The humane intent of the bill is to assist these organizations in their recovery and to ensure they can continue contributing to the state's cultural, educational, and economic landscapes.
Contention
There may be points of contention regarding how the funds are to be allocated, particularly the criteria for selecting which organizations receive support. While the bill emphasizes distributions based on quantifiable pandemic losses and the economic impact of the organizations, some critics could argue about the sufficiency and fairness of these measures. Additionally, concerns may arise regarding the administrative fee of three hundred thousand dollars ($300,000), which could divert funds from the organizations that require immediate financial aid. Ensuring equitable access to these funds, especially for minority-led organizations, is crucial and may become a pivotal aspect of discussions surrounding this bill.
Joint Resolution Authorizing Appropriation Of Five Million Dollars ($5,000,000) To Commerce Rhode Island For Express Purpose Of Providing Base Level Operation Funds For Local Visitor Centers (authorizes The Appropriation Of The Sum Of Five Million Dollars ($5,000,000) To Commerce Rhode Island For Funding Of Local Visitor Centers.)
Joint Resolution Authorizing Appropriation Of Five Million Dollars ($5,000,000) To Commerce Rhode Island For Express Purpose Of Providing Base Level Operation Funds For Local Visitor Centers (this Resolution Authorizes The Appropriation Of The Sum Of Five Million Dollars ($5,000,000) To Commerce Rhode Island For Funding Of Local Visitor Centers.)
Joint Resolution Making An Appropriation Of $1,000,000 To The Rhode Island Council For The Humanities For Direct Grant Funding To Community Cultural Organizations Throughout Rhode Island (authorizes The Appropriation Of The Sum Of $1,000,000 To The Rhode Island Council For The Humanities To Continue Efforts To Support Local Cultural Organizations Throughout The State.)
Joint Resolution Making An Appropriation Of $1,000,000 To The Rhode Island Council For The Humanities For Direct Grant Funding To Community Cultural Organizations Throughout Rhode Island (this Resolution Would Authorize The Appropriation Of The Sum Of $1,000,000 To The Rhode Island Council For The Humanities To Continue Efforts To Support Local Cultural Organizations Throughout The State.)