HB-5480, As Passed House, December 7, 2005
SUBSTITUTE FOR
HOUSE BILL NO. 5480
A bill to amend 1985 PA 106, entitled
"State convention facility development act,"
by amending section 9 (MCL 207.629), as amended by 2004 PA 386.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 9. (1) On or before the thirtieth day of each month, the
state treasurer shall make a distribution from the convention
facility development fund to a qualified local governmental unit.
The distribution shall be an amount equal to the sum of the
collections from the excise tax levied for accommodations under
this act for the previous month from the convention hotels in the
county in which the convention facility is or is to be located and
in any county in which convention hotels are located that is
contiguous to the county in which the convention facility is
located, or is to be located, and the additional tax imposed under
section 1207 of the Michigan liquor control code of 1998, 1998 PA
58, MCL 436.2207, for the previous month received in the fund.
However, distributions for any state fiscal year to any qualified
local governmental unit shall not exceed an amount equal to the
amount pledged, assigned, or dedicated by the qualified local
governmental unit pursuant to section 11 for the payment during
that state fiscal year of bonds, obligations, or other evidences of
indebtedness incurred for the purposes specified in this act, plus
any amount necessary to maintain a fully funded debt reserve or
other reserves intended to secure the principal and interest on the
bonds, obligations, or other evidences of indebtedness as contained
in the resolution or ordinance authorizing their issuance.
(2) Notwithstanding the distributions provided by subsection
(1), if a local governmental unit becomes a qualified local
governmental unit entitled to receive distributions from the tax
imposed under section 1207 of the Michigan liquor control code of
1998, 1998 PA 58, MCL 436.2207, or from the tax imposed by this act
in counties in which the convention facility is located or in a
county in which a convention hotel is located that is contiguous to
the county in which the convention facility is located, no other
qualified local governmental unit is entitled to distributions
pursuant to this section for which that qualified local
governmental unit has previously become entitled.
(3) As used in this act, "qualified local governmental unit"
means a city, village, township, county, or authority that is
located in a county in which convention hotels are located and that
either is the owner or lessee of a convention facility with 350,000
square feet or more of total exhibit space on July 30, 1985 or, if
such a convention facility does not exist, will be the owner or
lessee of a convention facility with 350,000 square feet or more of
total exhibit space through the application of distributions under
this section to the purchase or lease of a convention facility.
(4) Notwithstanding any other provision of this act, after the
distributions under subsection (1), and before any distributions
under section 10, for fiscal year 2004-2005 only, $1,075,000.00
shall be distributed to the state sports tourism fund. The money
distributed to the state sports tourism fund described in this
subsection, including any funds appropriated in fiscal year 2005-
2006 from the state convention facility development fund, shall be
deducted from the money described in section 10(2)(a) before any
distribution is made under section 10(2)(a).
(5) The state sports tourism fund is created within the state
treasury.
(6) The state treasurer may receive money or other assets from
any source for deposit into the state sports tourism fund. The
state treasurer shall direct the investment of the state sports
tourism fund. The state treasurer shall credit to the state sports
tourism fund interest and earnings from the state sports tourism
fund investments.
(7) Money in the state sports tourism fund at the close of the
fiscal year shall remain in the state sports tourism fund and shall
not lapse to the general fund. However, money remaining in the fund
on September 30, 2006, shall lapse to the convention facility
development fund.
(8) The department of treasury shall expend money from the
state sports tourism fund, upon appropriation, only for grants to
Super Bowl XL host committee functions related to hosting, staging,
or execution of Super Bowl XL activities or to reimburse a county
not more than $500,000.00 for contributions or grants already made
to the Super Bowl XL host committee for functions related to
hosting, staging, or execution of Super Bowl XL activities. Money
shall not be distributed to the state sports tourism fund that
impairs obligations, bonds, or other evidences of indebtedness
issued under this act.
(9) The department of treasury shall expend money from the
state sports tourism fund, upon appropriation of not more than
$1,000,000.00, for Super Bowl XL host committee functions related
to security operations of Super Bowl XL activities. Money shall not
be distributed to the state sports tourism fund that impairs
obligations, bonds, or other evidences of indebtedness issued under
this act.