The bill amends section 13-2610 of the Revised Statutes Supplement, 2025, to enhance the Convention Center Facility Financing Assistance Act by introducing provisions for the recapture of funding distributed from the Convention Center Support Fund. It establishes that recipients of funding must maintain their principal place of business or primary operations within areas of high poverty for at least three years following the receipt of funds. If they fail to do so, the county may recapture the funding on a pro-rata basis, which will then be returned to the Convention Center Support Fund or an applicable development fund. Additionally, the bill mandates that committees formed to oversee the distribution of funds must include specific members and follow public engagement processes for project selection.

The bill also outlines the distribution of funds, with ten percent allocated to areas with high poverty concentrations for historical showcases and small business growth. It emphasizes the importance of community involvement in project selection and requires annual reporting to the Legislature on funded projects and their outcomes. The act will become operative on January 1, 2027, and repeals the original section 13-2610.

Statutes affected:
Introduced: 13-2610
Final Reading: 13-2610
Slip Law: 13-2610