2012 Senate Bill 1125 / Public Act 328

Authorize more state government housing subsidy debt

Introduced in the Senate

May 15, 2012

Introduced by Sen. Mike Kowall (R-15)

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 Committee on Economic Development

May 31, 2012

Reported without amendment

With the recommendation that the bill pass.

June 6, 2012

Passed in the Senate 33 to 5 (details)

Received in the House

June 7, 2012

Referred to the Committee on Commerce

Sept. 19, 2012

Reported without amendment

With the recommendation that the substitute (H-1) be adopted and that the bill then pass.

Substitute offered

The substitute passed by voice vote

Amendment offered by Rep. Tom McMillin (R-45)

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

Passed in the House 85 to 20 (details)

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

Sept. 20, 2012

Sept. 25, 2012

Passed in the Senate 33 to 5 (details)

To concur with the House-passed version of the bill.

Signed by Gov. Rick Snyder

Oct. 9, 2012