The bill amends the State Housing Development Authority Act of 1966 by updating definitions and provisions related to housing assistance for various income levels. Key changes include the introduction of a new category for "middle income households," which encompasses individuals or families with adjusted household incomes not exceeding 120% of the area median income. Additionally, the bill expands the definition of "eligible applicants" to include those developing affordable housing for middle-income households, alongside low, very low, and extremely low-income households. The bill also modifies the definition of "downtown area" to require a significant number of multilevel, mixed-use buildings and stipulates that property in such areas must be owned by more than three private owners.

Furthermore, the bill mandates the Michigan Housing and Community Development Authority to create a biennial allocation plan that considers the needs of people with disabilities and various income levels. It emphasizes public engagement in the planning process, including virtual participation options for public meetings. The authority is also required to issue an annual report detailing fund expenditures, including the number of homeless individuals served, and to make this report publicly accessible online. The bill allows for the reallocation of uncommitted funds at the end of the fiscal year and provides the authority with the flexibility to assist a broader range of housing projects, including those aimed at preventing homelessness and supporting community development initiatives.

Statutes affected:
Senate Introduced Bill: 125.1458
As Passed by the Senate: 125.1458