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 and families with adjusted household incomes not exceeding 120% of the area median income. Additionally, the definitions of "adjacent neighborhood" and "downtown area" have been revised to clarify the criteria for these designations, emphasizing the need for mixed-use buildings and multiple property ownership in downtown areas. The bill also expands the scope of eligible applicants for housing development projects to include those targeting middle-income households.

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 requires public hearings for the allocation plan and emphasizes virtual participation to ensure broader community engagement. 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. Overall, the amendments aim to enhance the effectiveness of housing programs and ensure a more inclusive approach to addressing housing needs in Michigan.

Statutes affected:
Senate Introduced Bill: 125.1458