The bill amends the Community Convention or Tourism Marketing Act by updating definitions and requirements related to the assessment of transient facilities. Key changes include the definition of "assessment," which now specifies that it is calculated based on a percentage of aggregate room charges over a five-year assessment period. Additionally, the bill clarifies that a majority of the board of directors of a bureau must be owners of transient facilities, replacing the previous requirement that they "shall" be owners with a more definitive "must."

Furthermore, the bill revises the definition of "director" to refer to the director of the bureau of fair competition and free enterprise, rather than the president of the Michigan strategic fund. It also updates the definition of "transient facility" to include specific exclusions and adds a reference to the Internal Revenue Code regarding tax-exempt organizations. The bill stipulates that it will only take effect if Senate Bill No. 631 is enacted into law.

Statutes affected:
Senate Introduced Bill: 141.872