MI SB1223

Amends the state excise tax on hotel accommodations to modify definitions and distribution formulas for the convention facility development fund under 1985 PA 106.

Establishes specific annual operational deficit distributions to a metropolitan authority for a qualified convention facility: $5,000,000 for FY 2020, $7,000,000 (COVID-19 impact), $8,000,000 for FY 2021-2022, declining to $5,000,000 by FY 2025.

Authorizes distribution of up to $4,000,000 for FY 2021 to the Michigan Strategic Fund for grants to convention centers negatively impacted by COVID-19, with a maximum of $1,000,000 per eligible facility.

Permits distributions of up to $5,000,000 annually to operators of street railway systems for operational costs from FY 2020-2039 if fund revenues exceed other required distributions.

Extends the tax collection authority until December 31, 2039 or 30 days after all bonds issued by a metropolitan authority under the regional convention facility authority act are retired, whichever is earlier.