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MI SB0609
Bill
AI Summary
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Amends the Regional Convention Facility Authority Act to change the effective date trigger from "effective date of this act" to "January 20, 2009" for the 45-day period allowing qualified cities to disapprove facility transfers to the authority.
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Maintains that if a qualified city does not disapprove the transfer within 45 days, the convention facility transfers to the authority on the 90th day after January 20, 2009, or when the facility becomes qualified, whichever is later.
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Adds subsection (14) authorizing qualified cities that disapprove transfers to lease their convention facilities to the authority instead, with a 30-year lease term and a one-time rental fee of $20,000,000 payable upon execution, with renewal options available.
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Preserves all existing board governance requirements, including unanimous consent voting (except for conflicted members), public meeting compliance, annual audits, and procurement procedures outlined in the original act.
Legislative Description
Economic development; other; regional convention facility authority act; clarify leasing authority. Amends secs. 11 & 19 of 2008 PA 554 (MCL 141.1361 & 141.1369).
Economic development, other
Last Action
Referred To Committee On Commerce And Tourism
5/26/2009