Bill > HB5099

This bill amends the State Convention Facility Development Act to modify how money in the convention facility development fund is distributed and extends the tax collection period. Specifically, the bill updates the annual distribution amounts to metropolitan authorities for convention facility operational deficits, with new funding levels ranging from $4-6 million annually from fiscal years 2025 through 2030. It also continues the existing formula for distributing tax revenues to counties based on liquor tax collections, with special provisions for counties with and without convention hotels. The bill includes a provision for potential additional funding to street railway systems (up to $5 million annually) and maintains previous COVID-19 related grant provisions. Notably, the bill extends the tax collection period from December 31, 2039, to December 31, 2059, or 30 days after all bonds issued by a metropolitan authority are retired. The legislation also requires that if certain counties approve additional property tax millage rates due to these distributions, they must allocate at least 40% of the distribution or the amount used for substance abuse treatment in fiscal year 2022 to substance abuse treatment programs within the taxing unit.