Public Act 58 of 2008

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• Introduced by Sen. Randy Richardville (R) on February 19, 2008, to increase the individual income cap and home value cap on eligibility for certain state mortgage subsidies. The income cap would go from a range of $65,000 - $74,750 to a single statewide cap of $108,000. The bill is part of a package comprised of Senate Bills 950, 951 and 1133, and House Bills 5443 and 5446.
  • Referred to the Senate Banking and Financial Institutions Committee on February 19, 2008.
    • Reported in the Senate on February 21, 2008, with the recommendation that the bill pass.
  • Substitute offered in the Senate on March 5, 2008, to replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described. The substitute passed by voice vote in the Senate on March 5, 2008.
• Passed 38 to 0 in the Senate on March 6, 2008, to increase the individual income cap and home value cap on eligibility for certain state mortgage subsidies.
  Who Voted "Yes" and Who Voted "No"
• Received in the House on March 6, 2008.
  • Referred to the House Banking and Financial Services Committee on March 6, 2008.
    • Reported in the House on March 11, 2008, without amendment and with the recommendation that the bill pass.
• Passed 104 to 1 in the House on March 13, 2008, to increase the individual income cap and home value cap on eligibility for certain state mortgage subsidies.
  Who Voted "Yes" and Who Voted "No"
• Signed by Gov. Jennifer Granholm on April 2, 2008.