-Defines an approved facility as a publicly owned convention or meeting center, associated hotel, and an enclosed temperature controlled sports arena (sec. 2).
-Transfers up to 70 percent of the sales tax collected from the approved facilities to the city, of which 10 percent must be distributed to areas with a high concentration of poverty (sec. 6).
-Transfers the remaining 30 percent of the collected sales tax to the Local Civic, Cultural, and Convention Center Financing Fund (sec. 6).