Legislation watch
2012 Senate Bill 1125: Authorize more state government housing subsidy debt
Public Act 328 of 2012
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- Introduced by Sen. Mike Kowall (R) on May 15, 2012, to increase from $3 billion to $4.2 billion the amount of debt he Michigan State Housing Development Authority (MSHDA) may incur in performing its role of providing taxpayer-backed mortgage loan guarantees, subsidies and more.
- Referred to the Senate Economic Development Committee on May 15, 2012.
- Reported in the Senate on May 31, 2012, with the recommendation that the bill pass.
- Referred to the Senate Economic Development Committee on May 15, 2012.
- Passed 33 to 5 in the Senate on June 6, 2012.
Who Voted "Yes" and Who Voted "No" - Received in the House on June 7, 2012.
- Referred to the House Commerce Committee on June 7, 2012.
- Reported in the House on September 19, 2012, with the recommendation that the substitute (H-1) be adopted and that the bill then pass.
- Substitute offered in the House on September 19, 2012. The substitute passed by voice vote in the House on September 19, 2012.
- Amendment offered by Rep. Tom McMillin (R) on September 19, 2012, to tie-bar the bill to House Bills 5648 and 5649, meaning this bill cannot become law unless those do also. Those bills would restrict MSHDA from subsidizing non-housing development projects, and require it follow certain conflict of interest standards. The amendment failed by voice vote in the House on September 19, 2012.
- Referred to the House Commerce Committee on June 7, 2012.
- Passed 85 to 20 in the House on September 19, 2012, to increase from $3 billion to $4.2 billion the amount of debt he Michigan State Housing Development Authority (MSHDA) may incur in performing its role of providing taxpayer-backed mortgage loan guarantees, subsidies and more.
Who Voted "Yes" and Who Voted "No" - Received in the Senate on September 20, 2012.
- Passed 33 to 5 in the Senate on September 25, 2012, to concur with the House-passed version of the bill.
Who Voted "Yes" and Who Voted "No" - Signed by Gov. Rick Snyder on October 9, 2012.
Comments
1) Re: 2012 Senate Bill 1125 by iuliancezar on November 21, 2012As one of the overhead garage storage designers i must say that more government housing is one of the best requests that people can make these days. I think that we must demand what we need now not what we need in the future. The economy is how it is but there are a few problems that can be solved with a little patience.
When it comes to funds allocated for the housing department then I am perfectly OK with that but when it comes to increasing debt for housing I am not a fan of that. Why debt is seen as a solution to everything when it clearly isn't? I hope I won't have to include it in my plans, I set my eyes on a house I found on http://www.austintenantadvisors.com/Â and I am looking for alternatives to get it.
The state should not be in the housing market. Nor should tge state be picking winners and losers.
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