Creative Industries and Community Economic Revitalization Act of 2010.

The Sales and Use Tax Law imposes a tax on the gross receipts from the sale in this state of, or the storage, use, or other consumption in this state of, tangible personal property, and requires that all revenues derived from that tax, except as provided, be deposited in the State Treasury to the credit of the Retail Sales Tax Fund. Existing law establishes in state government the California Arts Council and imposes various duties on the council to foster arts development and to award grants and prizes to individuals and organizations in the arts, as provided. This bill would establish the Creative Industries and Community Economic Revitalization Act of 2010, which would create, in the State Treasury, the Creative Industries and Community Economic Revitalization Fund. The bill would require that 20% of all revenues derived from the payment of sales and use taxes that are remitted to the State Board of Equalization by the taxpayers engaged in specified lines of business, as provided, be deposited in the fund. The council would be authorized to expend the moneys in the fund, upon appropriation by the Legislature, to issue grants pursuant to the act. The bill would authorize a city, county, district, including, but not limited to, a regional park district, a joint powers authority, or a nonprofit arts organization deemed eligible by the council, to apply to the council for a local assistance program grant for organizational support. The council would be required, when issuing a grant, to encourage joint partnerships between applicants, and to submit an annual report to the Legislature that includes the status of each grant made pursuant to the act.