Introduced
by
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 Committee on Economic Development
Reported without amendment
With the recommendation that the bill pass.
Passed in the Senate 36 to 2 (details)
Referred to the Committee on Commerce
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Substitute offered
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
Amendment offered
by
To clarify a provision earmarking a portion of any potential profits from the purchased entities.
The amendment passed by voice vote
Amendment offered
by
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
Passed in the House 88 to 20 (details)
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).
Passed in the Senate 35 to 1 (details)
