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2013 Senate Bill 345: Authorize more state government housing subsidy debt
Introduced by Sen. Mike Kowall (R) on May 1, 2013 To repeal a requirement that the Michigan State Housing Development Authority (MSHDA) must scale back its debt from a “temporary” maximum of $4.2 billion authorized in 2012, to $3.4 billion after Nov. 1, 2014, subject to some exceptions. The borrowed money is used to provide taxpayer-backed mortgage loan guarantees, subsidies and more.   Official Text and Analysis.
Referred to the Senate Economic Development Committee on May 1, 2013
Reported in the Senate on May 16, 2013 With the recommendation that the bill pass.
Passed 34 to 4 in the Senate on May 16, 2013 (same description)
To repeal a requirement that the Michigan State Housing Development Authority (MSHDA) must scale back its debt from a “temporary” maximum of $4.2 billion authorized in 2012, to $3.4 billion after Nov. 1, 2014, subject to some exceptions. The borrowed money is used to provide taxpayer-backed mortgage loan guarantees, subsidies and more.
Received in the House on May 16, 2013
Referred to the House Commerce Committee on May 16, 2013
Reported in the House on June 12, 2013 With the recommendation that the substitute (H-1) be adopted and that the bill then pass.

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