2023 Senate Bill 397 / Public Act 169

Housing: housing development authority; principal amount for outstanding bonds and notes; increase.

An act to amend 1966 PA 346, entitled “An act to create a state housing development authority; to define the powers and duties of the authority; to establish a housing development revolving fund; to establish a land acquisition and development fund; to establish a rehabilitation fund; to establish a conversion condominium fund; to create certain other funds and provide for the expenditure of certain funds; to authorize the making and purchase of loans, deferred payment loans, and grants to qualified developers, sponsors, individuals, mortgage lenders, and municipalities; to establish and provide acceleration and foreclosure procedures; to provide tax exemption; to authorize payments instead of taxes by nonprofit housing corporations, consumer housing cooperatives, limited dividend housing corporations, mobile home park corporations, and mobile home park associations; and to prescribe criminal penalties for violations of this act,” by amending section 32 (MCL 125.1432), as amended by 2020 PA 73.

Introduced in the Senate

June 15, 2023

Introduced by Sen. Mary Cavanagh (D-6)

Referred to the Committee on Housing and Human Services

June 27, 2023

Reported without amendment

June 28, 2023

Referred to the Committee of the Whole

Reported without amendment

Passed in the Senate 24 to 13 (details)

Received in the House

June 28, 2023

Referred to the Committee on Economic Development and Small Business

Sept. 12, 2023

Reported with substitute H-1

Sept. 26, 2023

Substitute H-1 concurred in by voice vote

Sept. 27, 2023

Passed in the House 57 to 53 (details)

Motion to give immediate effect by Rep. Jimmie Wilson (D-32)

The motion prevailed by voice vote

Received in the Senate

Oct. 3, 2023

Substitute H-1 concurred in 24 to 14 (details)

Motion to give immediate effect by Sen. Sam Singh (D-28)

The motion prevailed by voice vote

Signed by Gov. Gretchen Whitmer

Oct. 19, 2023