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 new definitions for "middle income household," which refers to individuals or families with an adjusted household income not exceeding 120% of the area median income. Additionally, the bill expands the eligibility criteria for applicants seeking assistance to include middle-income households alongside low, very low, and extremely low-income households. The definitions of "adjacent neighborhood" and "downtown area" have also been revised to clarify the criteria for these designations.

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 groups. It emphasizes the importance of public engagement in the planning process, requiring public hearings and options for virtual participation. The authority is also tasked with issuing an annual report detailing fund expenditures, including the number of housing units produced and the demographics of households served. The bill aims to enhance the effectiveness of housing assistance programs and ensure that resources are allocated to meet the diverse needs of Michigan residents.

Statutes affected:
Senate Introduced Bill: 125.1458