Economic development: other; state convention facility development act; amend to reflect elimination of the Michigan strategic fund. Amends sec. 10 of 1985 PA 106 (MCL 207.630). TIE BAR WITH: SB 0631'25
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill modifies the State Convention Facility Development Act by eliminating the Michigan Strategic Fund. It outlines how remaining funds in the convention facility development fund will be distributed to metropolitan authorities for operational costs of qualified convention facilities, counties, and potentially street railway systems. Specifically, it details priority distribution amounts for fiscal years 2020-2025, and provides for a one-time distribution to the Michigan Strategic Fund in 2021 to aid convention centers impacted by COVID-19. Additionally, it establishes a mechanism for distributing excess funds to metropolitan authorities for capital expenditures or bond repayment, with specific allocations for certain fiscal years.
Key provisions
- Eliminates the Michigan Strategic Fund.
- Distributes remaining funds to metropolitan authorities for convention facility operational costs.
- Allocates funds to counties based on liquor tax collections.
- Provides for a one-time distribution to the Michigan Strategic Fund in 2021 for COVID-19 relief.
- Allows for distribution to street railway systems.
- Establishes a process for distributing excess funds to metropolitan authorities for capital expenditures or bond repayment.
- Requires a portion of distributions to be used for substance abuse treatment within the receiving county.
- Specifies quarterly distribution schedules.
Who is affected
- Metropolitan Authorities
- Counties
- Convention Centers
- Street Railway Systems
Bill text
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