Introduced
by
To allow the Michigan State Housing Developing Authority to provide loan subsidies for the refinancing of home loans on owner-occupied one-to-four unit housing units or condos. Under current law the Authority may subsidize loans for acquisition only. The family income cap for such loans is $65,000 to $74,750. The bill is part of a package comprised of House Bills 5442 to 5447.
Referred to the Committee on Banking and Financial Services
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
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 failed by voice vote
Substitute offered
by
To replace the previous version of the bill with one that requires the owner be an occupant of a four-unit dwelling being refinanced.
The substitute passed by voice vote
Passed in the House 71 to 34 (details)
To allow the Michigan State Housing Developing Authority to provide loan subsidies for the refinancing of home loans on owner-occupied one-to-four unit housing units or condos. Under current law the Authority may subsidize loans for acquisition only. The family income cap for such loans is $65,000 to $74,750. The bill is part of a package comprised of House Bills 5442 to 5447.
Referred to the Committee on Banking and Financial Institutions
