SB1850 Summary

• Lowers registered attendance thresholds for incentive grant eligibility from 5,000/10,000 individuals to 3,000/5,000 individuals for fiscal years 2022 through 2024.

• Extends State Comptroller transfers into the Metropolitan Pier and Exposition Authority Incentive Fund from the General Revenue Fund through July 15, 2026, with annual transfers capped at $15,000,000.

• Limits incentive fund usage to $5,000,000 per fiscal year for conventions with 3,000-5,000 registered attendees during 2022-2024, and for 5,000-10,000 attendees in other years.

• Modifies Section 18 to allow the Board to determine meeting times and places rather than requiring monthly meetings.

• Takes effect immediately upon enactment.