MI SB1222

Amends the definition of "convention facility" to clarify that it includes an attached arena with seating capacity not exceeding 13,000, but explicitly excludes any arena with seating capacity exceeding 13,000.

Expands authority powers under Section 17 to allow authorities to enter into public-private arrangements for researching, planning, studying, designing, developing, financing, acquiring, constructing, renovating, operating, maintaining, or charging rent or other fees for convention facilities.

Adds new revenue source options under Section 23 for regional convention facility authorities, including distributions from the state convention facility development fund under the state convention facility development act (1985 PA 106).

Establishes authority to create a regional convention facility operating trust fund for accumulating revenues to pay operating and maintenance costs, with investment fiduciary requirements aligned with public employee retirement system investment standards.

Clarifies that financial obligations of an authority are solely the authority's responsibility and cannot be transferred to the state, qualified cities, qualified counties, or bordering counties.