New York Consolidated Laws, State Finance Law - STF § 92-q. The institute for the Hudson River Collection fund

2. a. The Institute shall have the power to receive any moneys and property from any source.  It shall distribute funds as grants and contracts to not-for-profit tax exempt entities for the purpose of establishing, maintaining and furthering the cultural and artistic interests of the Hudson river area.

b. No less than seventy-five percent of the total funds distributed in any fiscal year shall be allocated to not-for-profit tax-exempt providers for the purpose of establishing, maintaining and furthering the cultural and artistic interests of the Hudson river area.

c. The remaining funds shall be allocated for services and expenses of the Institute for the Hudson River Collection.

d. The Institute shall adopt rules and regulations for the administration of the fund to carry out the purpose and provisions of this section and of article ten of the arts and cultural affairs law.  Such regulations shall be adopted in accordance with article two of the state administrative procedure act.

e. The Institute may employ and remove such personnel as it may deem necessary for the performance of its functions and fix their compensation within the amounts made available therefor and may allocate funds for the actual and necessary nonpersonnel administrative costs of the Institute.  No more than ten percent of the funds available in any fiscal year shall be spent on personnel and related services, and on necessary nonpersonnel administrative costs of the Institute.