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Mackinac Center for Public Policy
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2013 Senate Bill 347: Expand MSHDA developer subsidies

Public Act 116 of 2013

  1. Introduced by Sen. Mark Jansen (R) on May 1, 2013, to empower the Michigan State Housing Development Authority (MSHDA) to use money in reserve funds to “invest” (buy ownership interest) in companies or nonprofits whose “primary purpose is to acquire ownership interests in multifamily housing projects” (and not necessarily build new ones).
    • Referred to the Senate Economic Development Committee on May 1, 2013.
      • Reported in the Senate on May 16, 2013, with the recommendation that the bill pass.
  2. Passed 36 to 2 in the Senate on May 16, 2013.
    Who Voted "Yes" and Who Voted "No"

  3. Received in the House on May 16, 2013.
    • Referred to the House Commerce Committee on May 16, 2013.
      • Reported in the House on June 12, 2013, with the recommendation that the substitute (H-1) be adopted and that the bill then pass.
    • Substitute offered in the House on June 18, 2013, to adopt a version of the bill that also allows this government agency to start new for-profit companies and other entities. The substitute passed by voice vote in the House on June 18, 2013.
    • Amendment offered by Rep. Frank Foster (R) on June 18, 2013, to clarify a provision earmarking a portion of any potential profits from the purchased entities. The amendment passed by voice vote in the House on June 18, 2013.
    • Amendment offered by Rep. Frank Foster (R) on September 12, 2013, to allow MSHDA to purchase loans related to the type of activities the bill would permit, rather than just to "make" loans. The amendment passed by voice vote in the House on September 12, 2013.
  4. Passed 88 to 20 in the House on September 12, 2013, to empower the Michigan State Housing Development Authority (MSHDA) to use money in reserve funds to “invest” (buy ownership interest) in companies or nonprofits whose “primary purpose is to acquire ownership interests in multifamily housing projects” (and not necessarily build new ones).
    Who Voted "Yes" and Who Voted "No"

  5. Received in the Senate on September 17, 2013.
  6. Passed 35 to 1 in the Senate on September 17, 2013.
    Who Voted "Yes" and Who Voted "No"

  7. Signed by Gov. Rick Snyder on September 24, 2013.

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