Treasury is reviewing the recently enacted tax law changes, including the new Marijuana Wholesale Tax. Developing clear and accurate information for tax stakeholders is our top priority. This guidance will be posted to our website in the coming weeks.
Convention Facility Development Fund
Convention Facility Development Fund Distributions (in order of priority)
Revenues Collected | 1985 PA 106 | Distributions | Payment Timeline |
October - December |
Section 9(1), MCL 207.629
Section 10(2)(a), MCL 207.630 Section 10(2)(b), MCL 207.630 |
Debt Service - DRCFA
Operations - DRCFA* Counties |
December/January
January January |
January - March | Section 10(2)(b), MCL 207.630 | Counties | April |
April - June | Section 10(2)(b), MCL 207.630 | Counties | July |
July - September |
Section 10(2)(b), MCL 207.630
Section 10(2)(c), MCL 207.630 |
Counties
Street Railway |
October
October |
Year-End Revenues |
Section 10(2)(c), MCL 207.630
Section 10(2)(e), MCL 207.630 Section 10(2)(e), MCL 207.630 |
Street Railway
Excess to DRCFA - Initial Excess to DRCFA - Final |
November/December
November December/January |
Note:
- December and January distributions will include revenues from both the prior fiscal year and the current fiscal year.
- Payments will be issued separately, and Treasury will email US Bank and DRCFA with the payment details by fiscal year.
*FY 2025 - $5.0M - Last year of payment under this section.