3. The following words or terms as used in this act shall have the following meaning, unless a different meaning clearly appears from the context:

“Account” means the New Jersey Cultural Trust Account in the General Fund established by section 8 of this act.

“Board” means the Board of Trustees established by section 5 of this act.

“Capital facilities projects” means those projects in New Jersey of a qualified organization that construct, expand, renovate, plan for, repair, rehabilitate, restore, adaptively re-use, purchase, effectuate long-term leaseholds on, replace, relocate, or otherwise improve cultural or historical property and facilities, including any work relating to providing access thereto for persons with disabilities. The term includes the acquisition of an interest in real property and includes the repair and replacement of fixtures.

“Commission” means the New Jersey Historical Commission established pursuant to N.J.S. 18A:73-21 et seq.

“Council” means the New Jersey State Council on the Arts established pursuant to P.L.1966, c. 214 (C. 52:16A-25 et seq.).

“Cultural Trust” means the New Jersey Cultural Trust established by section 4 of this act.

“Endowment” means a permanent fund, the principal of which is to remain intact in perpetuity and which is invested and held by or for the exclusive use of a qualified organization, and the income of which may be expended by the qualified organization for purposes consistent with its mission.

“Financial stabilization” means those enhancements to a qualified organization that build assets, reduce liabilities, aid cash flow, establish working capital and capital reserves, expand income, improve public access, build institutional capability and efficiency, or otherwise effect long-term improvement of a qualified organization’s financial ability to sustain itself and carry out its mission.

“Fiscal plan” means a document or documents detailing the policies, functions, workings, and strategies of the Cultural Trust for its operation in carrying out the purposes of this act, including all those applicable to the solicitation and receipt of public funds and private donations, the investment of the Trust Fund, and the distribution of funds.

“Historic Trust” means the New Jersey Historic Trust established pursuant to P.L.1967, c.124 (C. 13:1B-15.111 et seq.).

“Performing, visual and creative arts” means performing and creative arts as defined in section 2 of P.L.1966, c.214 (C. 52:16A-26).

“Preservation” means the stabilization, planning, repair, rehabilitation, renovation, restoration, improvement, or protection of any historic property, structure, facility, or site of a qualified organization, and includes any work related to providing access thereto for persons with disabilities.

“Project list” means a compilation of projects, their purposes, and amounts recommended for receipt of Cultural Trust moneys by the Council, Historic Trust, or Commission.

“Qualified organization” means a tax-exempt, nonprofit organization whose primary mission is to promote the performing, visual and creative arts in New Jersey or to promote or preserve history and humanities in New Jersey. The term shall not include private, State, county, or municipal colleges, and universities. The term shall not include State, county, or local governmental units, authorities or corporations created by such units, and shall not include a “qualifying governmental body” as defined in section 2 of P.L.1985, c.410 (C. 52:16A-26.2).

“Trust Fund” means the permanent investment fund established by the Board of Trustees of the Cultural Trust as provided in section 8 of this act.

L.2000,c.76,s.3.