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1 acceptance by the Institute, shall be paid by the donor or 2 his representative to the Treasurer of the United States 3 whose receipt shall be their acquittance. The Treasurer of 4 the United States shall enter them in a special account to 5 the credit of the Institute for the purposes in each case 6 specified.

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AUTHORIZATION OF APPROPRIATIONS

SEC. 208. (a) For the purpose of making grants under 9 section 206 (a), there are hereby authorized to be appro10 priated $25,000,000 for the fiscal year ending June 30, 11 1975, and $30,000,000 for each of the succeeding fiscal 12 years ending prior to October 1, 1978.

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(b) For the purpose of enabling the Institute to carry 14 out its functions under this part, during the period beginning

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on the date of enactment of this Act and ending October 1, 16 1978, there is authorized to be appropriated an amount equal

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to the amount contributed during such period to the Institute 18 under section 207.

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20 SEC. 209. For purposes of this part, the term "museum"

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means a public or private nonprofit agency or institution 22 organized on a permanent basis for essentially educational or

23 esthetic purposes, which, utilizing a professsional staff, owns 24 and utilizes tangible objects, cares for them, and exhibits 25 them to the public on a regular basis.

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PART B-EXHIBITIONS

SHORT TITLE

SEC. 221. This part may be cited as the "Arts and Arti

4 facts Indemnity Act".

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SEC. 222. (a) The Federal Council on the Arts and Humanities (hereafter in this part referred to as the "Coun

7 cil"), established under section 9 of the National Foundation

8 on the Arts and the Humanities Act of 1965, is authorized

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to indemnify against loss or damage such items as may be 10 eligible therefor under this part (as described in section

11 223)

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(1) in accordance with the provisions of this part;

(2) on such terms and conditions as the Council shall prescribe, by regulation, in order to achieve the purpose of this part and, consistent with such purpose,

to protect the financial interest of the United States.

(b) For the purposes of this part, the Council shall be

an "agency" within the meaning of the appropriate defini20 tions of such term in title 5, United States Code.

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SEC. 223. (a) The Council may provide indemnification

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(1) works of art, including tapestries, paintings,

sculpture, folk art, graphics, and craft arts;

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(2) manuscripts, rare documents, books, and other

printed or published materials;

(3) other artifacts or objects; and

(4) motion pictures or audio and video tape;

5 which are (A) of educational, cultural, historical, or scien6 tific value and (B) the exhibition of which is certified by the Secretary of State or his designee as being in the national 8 interest.

9 (b) Items eligible for indemnification under this part 10 shall be covered by an indemnity while on exhibition in the 11 United States. For the purposes of this subsection, the term "on exhibition" includes that period of time which begins at

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the point when the eligible items leave the premises of the 14 lender or place designated by the lender and ends when such 15 items are returned to the premises of the lender or place 16 designated by the lender.

17 SEC. 224. (a) Any person, nonprofit agency, institu18 tion, or government desiring to obtain an indemnity for

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eligible items under this part shall make application there20 for in accordance with such procedures, in such form, and 21 in such manner as the Council shall, by regulation, prescribe.

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(b) An application under subsection (a) shall

(1) described each item to be covered (including

an estimated value thereof);

(2) show evidence that the items are eligible under

subsection 223 (a); and

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(3) set forth policies, procedures, techniques, and methods with respect to preparation for, and conduct

of, exhibition of the items, and any transportation related thereto.

(c) Upon receipt of an application under this section,

6 the Council shall, if such application conforms with the re

7 quirements of this part, approve the application; and when

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so approved, the application shall constitute a contract be

9 tween the Council and the applicant pledging the full faith

10 and credit of the United States to pay any amount for 11 which the Council becomes liable under such agreement.

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SEC. 225. (a) Upon receipt of an application meeting 13 the requirements of subsections (a) and (b) of section 224, 14 the Council shall review the estimated value of the items for 15 which the indemnity is sought. If the Council agrees with 16 such estimated value, for the purposes of this part, the Coun17 cil shall, after approval of the application as provided in 18 subsection (c) of section 224, issue a certificate evidencing an indemnity as provided in subsection (b).

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(b) Coverage under this part shall only extend to loss

or damage in excess of the first $25,000 of loss or damage

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(c) There shall be no premium rates on any indem

24 nity issued under this section.

25 SEC. 226. (a) The Council shall issue regulations pro

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viding for prompt adjustment of valid claims for losses which

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1 are eligible for indemnification under this part, including 2 provision for arbitration of questions of the dollar value of 3 damages involving less than total loss or destruction of cov4 ered objects for which a certificate of indemnity has been 5 issued.

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(b) In the case of a claim of loss with respect to an 7 item which is the subject of a certificate of indemnity under 8 section 225, the Council shall certify the validity of the claim 9 and the amount of the loss to the Speaker of the House of 10 Representatives and the President of the Senate.

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SEC. 227. There are hereby authorized to be appro12 priated such sums as may be necessary (a) to enable the 13 Council to carry out its functions under this part, and (b) 14 to pay claims certified pursuant to subsection 226 (b). 15 SEC. 228. The Council shall report annually to the 16 Congress (a) all claims actually paid pursuant to this part 17 during the preceding fiscal year, (b) pending claims against 18 the Council under this part as of the close of that fiscal year, 19 and (c) the aggregate face value of contracts entered into 20 by the Council which are outstanding at the close of that

21 fiscal

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year.

EFFECTIVE DATE

SEC. 229. This part shall become effective

24 after the enactment of this Act.

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