Law on the Culture Support Foundation


Published: 0000-00-00

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$20 per month, or Get a Day Pass for only USD$4.99.
 
 
REPUBLIC OF LITHUANIA
LAW
ON THE CULTURE SUPPORT FOUNDATION
 
18 September 2012   No XI-2219 Vilnius
 
Article 1. Purpose of the Law
This Law shall regulate administration and liquidation of the Culture Support Foundation (hereinafter: 'the Foundation') whose funds are earmarked for the support of culture and art, as well as the sources and use of these funds.
 
Article 2. Status of the Culture Support Foundation
1. 2. The Regulations of the Foundation shall be approved by the Government of the Republic of Lithuania.
2. The Foundation shall not be a legal person.
3. The Foundation shall be administered by the Council for Lithuanian Culture.
4. Funds of the Foundation shall be kept in a separate account and shall be entered in the accounts according to a separate programme.
 
Article 3. Sources of Funding of the Foundation
1. The sources of funding of the Foundation shall be:
1) 3 per cent of the revenue from the excise duty on alcoholic beverages and manufactured tobacco;
2) 10 per cent of the revenue from the lottery and gaming tax;
3) other lawfully acquired funds.
2. When planning annual state budget appropriations, the revenue shall be allocated for the Foundation:
1) 3 per cent of the previous year’s actual revenue from the excise duty receipts from sold alcoholic beverages and manufactured tobacco;
2) 10 per cent of the previous year’s actual revenue from the lottery and gaming tax.
 
Article 4. Use of Funds of the Foundation
1. Funds of the Foundation shall be used to finance culture and art projects, programmes and other measures selected by means of an open competition. Funds of the Foundation may not be used to cover administrative expenditure of the Foundation.
2. The Council for Lithuanian Culture shall, in accordance with the procedure laid down by the Minister of Culture, take decisions on allocation of funds of the Foundation.
3. The Minister of Culture shall approve guidelines for submission of projects financed with funds of the Foundation. These guidelines shall set out the fields of Foundation's support and the priorities thereof, support and assessment criteria, an application form, the procedure of submission of projects, allocation of funds and justification of the funds used.
 
Article 5. Guarantees of Activities of the Foundation
1. Funds of the Foundation may not be transferred to the state budget or used to finance other governmental purposes.
2. Funds of the Foundation which are not used within a calendar year shall remain in the Foundation's account and shall be used next year to finance the projects intended.
 
Article 6. Liquidation of the Foundation
1. The Foundation shall be liquidated in accordance with the procedure laid down by laws of the Republic of Lithuania.
2. Upon the liquidation of the Foundation, its funds shall be transferred to the state budget.
 
I promulgate this Law passed by the Seimas of the Republic of Lithuania.    
 
 
 
 
 
 
PRESIDENT OF THE REPUBLIC                                          DALIA GRYBAUSKAITĖ