New York museums set for ban on art auctions

New York state lawmakers introduced a bill this week that would make it illegal for museums to sell off collections to raise money as endowment losses begin to bite into cultural institutions’ operating expenses.

The proposal is designed to toughen current regulations on "de-accessioning," which is the legal process governing how cultural institutions, trade, sell, or dispose of their collections. The process is enforced by the state's board of regents, which oversees educational activities for New York state.

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