MI SB1578

Establishes the "art institute authorities act" allowing any county to create an art institute authority as a public body to support encyclopedic art museums owned by municipalities.

Authorizes art institute authorities to levy a property tax of up to 0.2 mill for up to 20 years on county taxable property, subject to voter approval by majority of electors at a statewide general or primary election.

Requires art institute authorities to enter into contracts with nonprofit art institute services providers ensuring funds are used exclusively for art institute operations and obligating the provider to offer county residents preferences such as discounted admission and membership fees.

Establishes governance structure with a board of directors composed of an odd number of members not exceeding 15, with procedures for appointment, removal for cause, and compliance with Michigan's open meetings and freedom of information laws.

Mandates annual independent audits complying with generally accepted government auditing standards, budget preparation under the uniform budgeting and accounting act, and transfer of tax revenue to the art institute services provider within 10 business days of receipt.