The bill amends the State Housing Development Authority Act of 1966 by updating definitions and provisions related to housing development in Michigan. Key changes include the clarification of terms such as "low-income household," "extremely low-income household," and the introduction of "middle-income household." The bill also modifies the definition of "downtown area" to require a significant number of multilevel, mixed-use buildings and stipulates that property in these areas must be owned by more than three private owners. Additionally, the bill emphasizes the need for the authority to create a biennial allocation plan that considers the availability of funds from other sources to address housing needs.

Furthermore, the bill mandates that the Michigan Housing and Community Development Program must focus on developing resources for low-income, very low-income, extremely low-income, and middle-income households. It requires public hearings for the biennial allocation plan and ensures virtual participation options for public engagement, particularly for marginalized groups. The authority is also tasked with issuing an annual report detailing fund expenditures, the number of housing units produced, and the demographics of households served, which must be made publicly available on the authority's website.

Statutes affected:
House Introduced Bill: 125.1458