CONVENTION FACILITY DEVELOPMENT FUND; TRANSFER                         H.B. 6119 (H-1):

                                                                              SUMMARY OF HOUSE-PASSED BILL

                                                                                                         IN COMMITTEE

House Bill 6119 (H-1) (as passed by the House)

Sponsor:  Representative Cynthia Neeley

House Committee:  Appropriations

Senate Committee:  Committee of the Whole

Date Completed:  9-15-20

CONTENT

The bill would require the State Convention Facility Development Act to require the distribution of $10.0 million for fiscal year (FY) 2019-20 from the Convention Facility Development Fund to the State's General Fund. The distribution would be made prior to depositing the remaining revenue in the Convention Facility Fund to COBO Hall. The bill would have no impact on the other distributions under the State Convention Facility Development Act.

MCL 207.630                                                                                                          

FISCAL IMPACT

The bill would provide for a $10.0 million increase in FY 2019-20 General Fund/General Purpose (GF/GP) revenue. This transfer of funds from the Convention Facility Development Fund to the State GF/GP budget would apply only during FY 2019-20. The bill would have no impact on the level of funding to counties, the required debt service payments for the COBO Hall Convention Center in the City of Detroit, and operations of COBO Hall.

                                                                                        Fiscal Analyst:  Cory Savino

This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.