2008 Senate Bill 1133 / Public Act 58

Raise income cap for government mortgage subsidy

Introduced in the Senate

Feb. 19, 2008

Introduced by Sen. Randy Richardville (R-17)

To increase the individual income cap and home value cap on eligibility for certain state mortgage subsidies. The income cap would go from a range of $65,000 - $74,750 to a single statewide cap of $108,000. The bill is part of a package comprised of Senate Bills 950, 951 and 1133, and House Bills 5443 and 5446.

Referred to the Committee on Banking and Financial Institutions

Feb. 21, 2008

Reported without amendment

With the recommendation that the bill pass.

March 5, 2008

Substitute offered

To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.

The substitute passed by voice vote

March 6, 2008

Passed in the Senate 38 to 0 (details)

To increase the individual income cap and home value cap on eligibility for certain state mortgage subsidies.

Received in the House

March 6, 2008

Referred to the Committee on Banking and Financial Services

March 11, 2008

Reported without amendment

Without amendment and with the recommendation that the bill pass.

March 13, 2008

Passed in the House 104 to 1 (details)

To increase the individual income cap and home value cap on eligibility for certain state mortgage subsidies.

Signed by Gov. Jennifer Granholm

April 2, 2008