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2012 Senate Bill 1125: Authorize more state government housing subsidy debt

Public Act 328 of 2012

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.   Official Text and Analysis.
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.
Passed 33 to 5 in the Senate on June 6, 2012 (same description)
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.
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
Passed 85 to 20 in the House on September 19, 2012 (same description)
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.
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.
Signed by Gov. Rick Snyder on October 9, 2012

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