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Part I: Explicitly applies existing grant standards to Performing Arts Grants Program grants under the State Foundation on Culture and the Arts. Part II: Transfers the State Foundation on Culture and the Arts and the King Kamehameha Celebration Commission from the Department of Accounting and General Services to the Department of Business, Economic Development, and Tourism. Transfers certain authority and responsibilities held by the Comptroller regarding the Works of Art Special Fund to the Director of Business, Economic Development, and Tourism. (CD1)