Introduced by Sen. Mike Kowall R-White Lake 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