AN ACT relating to the Louisville Arena. Create new sections of KRS Chapter 148 to define terms; establish the Louisville Arena Authority, Inc.; subject the authority to the Kentucky Model Procurement Code and open records and meetings requirements; subject board members and officers to the Executive Branch Code of Ethics; provide membership requirements and organizational requirements; provide for the appointment of the chair and functions of the authority; direct the use of revenues; require an annual audit; amend KRS 12.020 to abolish the Division of the Louisville Arena within Kentucky State Fair Board; establish the Louisville Arena in the Tourism Arts and Heritage Cabinet.