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using concise, plain and objective descriptions
Legislation watch
2012 House Bill 5618: Expand state home loan guarantee and subsidy program
Public Act 345 of 2012
Introduced by Rep. Deb Shaughnessy R-Charlotte on May 10, 2012
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”. Official Text and Analysis.
Referred to the House Commerce Committee on May 10, 2012
Reported in the House on May 29, 2012
Without amendment and with the recommendation that the bill pass.
Received in the Senate on September 20, 2012
Referred to the Senate Economic Development Committee on September 20, 2012
Reported in the Senate on October 17, 2012
With the recommendation that the bill pass.
Signed by Gov. Rick Snyder on November 7, 2012