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," "very low-income household," and the introduction of "middle-income household," which refers to households earning up to 120% of the area median income. 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 term "adjacent neighborhood" is removed from the definitions, streamlining the focus on housing development within the state.

Furthermore, the bill mandates the Michigan Housing and Community Development Authority to create a program aimed at addressing the housing needs of various income levels, including low-income, very low-income, extremely low-income, and middle-income households. It requires the authority to develop a biennial allocation plan that considers the availability of funds from other sources and emphasizes public engagement through virtual participation in public hearings. The authority is also tasked with issuing an annual report detailing expenditures and the impact of funded projects, including the number of housing units produced and the demographics of households served.

Statutes affected:
House Introduced Bill: 125.1458