Provides that, after July 1, 2007, a public facilities district is not subject to the limits under this act if the tax is being levied for the construction of a new regional center to be used for community events, and artistic, musical, theatrical, or other cultural exhibitions, presentations, or performances and having two thousand or fewer permanent seats, or improvements or rehabilitation of an existing regional center to be used for community events, and artistic, musical, theatrical, or other cultural exhibitions, presentations, or performances and having two thousand or fewer permanent seats provided that the public facilities district is located in a county with a population of less than three hundred thousand.