2021 Senate Bill 362 / 2022 Public Act 236

Authorize certain developer tax breaks, and housing subsidies

Introduced in the Senate

April 15, 2021

Introduced by Sen. Winnie Brinks (D-29)

To authorize a new form of property tax break for developers who refurbish or build property (dubbed "attainable housing") and rent out 30% or more of the units to households with incomes less than 120% of the county median, at rates that do not exceed 30% of the household's income. The bill would authorize local governments giving 50% property tax cuts to developers, with state taxpayers ultimately covering the foregone local tax revenue.

Referred to the Committee on Economic and Small Business Development

June 15, 2021

Reported without amendment

With the recommendation that the substitute (S-2) be adopted and that the bill then pass.

June 17, 2021

Passed in the Senate 28 to 7 (details)

To authorize a new form of property tax break for developers who refurbish or build property (dubbed "attainable housing") and rent out 30% or more of the units to households with incomes less than 120% of the county median, at rates that do not exceed 30% of the household's income. The bill would authorize local governments giving 50% property tax cuts to developers, with state taxpayers ultimately covering the foregone local tax revenue. See also Senate Bills 364, 422 and 432.

Received in the House

June 17, 2021

Referred to the Committee on Local Government and Municipal Finance

June 15, 2022

Reported without amendment

With the recommendation that the substitute (H-3) be adopted and that the bill then pass.

Nov. 10, 2022

Passed in the House 71 to 37 (details)

To authorize a new form of property tax break for developers who refurbish or build property (dubbed "attainable housing") and rent out 30% or more of the units to households with incomes less than 120% of the county median, at rates that do not exceed 30% of the household's income. The bill would authorize local governments giving 50% property tax cuts to developers, with state taxpayers ultimately covering the foregone local tax revenue. See also Senate Bills 364, 422 and 432.

Received in the Senate

Nov. 29, 2022

Passed in the Senate 30 to 5 (details)

Signed by Gov. Gretchen Whitmer

Dec. 13, 2022