MI SB1515

Assessment cap for room charges levied by convention and tourism bureaus remains at 5% with limited exceptions under section 10

Bureaus must file marketing program notices with the director describing bureau structure, activities, proposed assessment amount, and municipalities in the assessment district

Assessment revenues must be deposited in state banks under the bureau's name and used only for bureau marketing program expenses

Bureaus must provide audited financial statements annually to property owners within 150 days of fiscal year end, including assessment revenues received and chief executive compensation details

Director must post audited statements on the internet; bureaus failing to submit within 90 days of a demand letter face civil infractions with fines up to $10,000 and potential dissolution by the attorney general