2012 House Bill 5618 / Public Act 345

Expand state home loan guarantee and subsidy program

Introduced in the House

May 10, 2012

Introduced by Rep. Deb Shaughnessy (R-71)

To expand the authority of the Michigan State Housing Development Authority (MSHDA) to provide government loan guarantees for multi-family housing projects that come with a mandate that 20 percent of the units be allotted to persons of “low and medium income.” Specifically, the bill would eliminate a provision restricting these projects to certain “distressed areas”.

Referred to the Committee on Commerce

May 29, 2012

Reported without amendment

Without amendment and with the recommendation that the bill pass.

Sept. 19, 2012

Passed in the House 92 to 13 (details)

Received in the Senate

Sept. 20, 2012

Referred to the Committee on Economic Development

Oct. 17, 2012

Reported without amendment

With the recommendation that the bill pass.

Passed in the Senate 30 to 6 (details)

To expand the authority of the Michigan State Housing Development Authority (MSHDA) to provide government loan guarantees for multi-family housing projects that come with a mandate that 20 percent of the units be allotted to persons of “low and medium income.” Specifically, the bill would eliminate a provision restricting these projects to certain “distressed areas”.

Signed by Gov. Rick Snyder

Nov. 7, 2012