Requires revenue deposited in a special MLK workforce housing, arts and preservation, convention and trade center, and community development fund to be used only for affordable workforce housing; the expansion, construction, repair, or maintenance of a convention and trade center; art museums, cultural museums, heritage museums, and heritage and preservation programs; the arts; the performing arts; and community development.

Prohibits money deposited in the special fund from being used to acquire or construct a stadium facility used by a professional sports franchise or to acquire, construct, repair, or improve a stadium used primarily by a state university.

Requires the tax on vehicle parking charges, with respect to a parking facility associated with a baseball stadium, to be used exclusively to fund repair, reequipping, and capital improvement of the baseball stadium.