Michigan 2025-2026 Regular Session

Michigan House Bill HB4540

Introduced
6/3/25  

Caption

Housing: other; housing and community development fund; modify. Amends sec. 58c of 1966 PA 346 (MCL 125.1458c). TIE BAR WITH: HB 4539'25

Impact

The significance of HB4540 lies in its expansive scope, which encompasses multiple forms of assistance aimed at alleviating housing pressures faced by low-income groups. The bill recognizes the crucial need for affordable housing solutions by facilitating loans at no or below-market interest rates. Furthermore, it opens avenues for funding aimed at preventing foreclosure, thus providing a safety net for vulnerable homeowners. The bill also emphasizes inclusivity by allowing funds to assist individuals with disabilities and those residing in distressed areas, thereby aiming to improve their living conditions and promote wider community engagement.

Summary

House Bill 4540 aims to amend Michigan's State Housing Development Authority Act of 1966, specifically addressing the financing and support mechanisms for low-income and very low-income households. This bill empowers the authority to provide various forms of financial assistance, including grants and loans for land acquisition, rehabilitation, new construction, and other initiatives focused on enhancing housing opportunities in downtown areas or adjacent neighborhoods. Key provisions include the ability to offer financial aid to support community development projects, promote infrastructure improvements, and eliminate blight, thus playing a crucial role in bolstering economic development in these areas.

Contention

However, the enactment of this bill is not without its debates. Supporters argue that the provisions in HB4540 will effectively address urgent housing needs and stimulate local economies through targeted development initiatives. Critics, on the other hand, may express concern over the reliance on state funds and the potential for inefficiencies or misallocation of resources. Additionally, the enforceability and monitoring of the programs funded through this legislation remain points of contention, as stakeholders seek to ensure that the intended assistance reaches those who are most in need without bureaucratic delays.

Companion Bills

MI HB4539

Same As Housing: other; housing and community development fund; modify. Amends secs. 58 & 58b of 1966 PA 346 (MCL 125.1458 & 125.1458b). TIE BAR WITH: HB 4540'25

Previously Filed As

MI SB0293

Housing: other; housing and community development fund; modify. Amends secs. 58, 58b & 58c of 1966 PA 346 (MCL 125.1458 et seq.).

MI HB5033

Housing: housing development authority; powers of authority; modify. Amends sec. 22 of 1966 PA 346 (MCL 125.1422). TIE BAR WITH: HB 5029'23

MI HB5032

Housing: housing development authority; sales price limit of the average purchase price; modify. Amends sec. 44 of 1966 PA 346 (MCL 125.1444).

MI SB0417

Housing: housing development authority; pass-through short-term bond financing program; modify. Amends sec. 44c of 1966 PA 346 (MCL 125.1444c).

MI SB0397

Housing: housing development authority; principal amount for outstanding bonds and notes; increase. Amends sec. 32 of 1966 PA 346 (MCL 125.1432).

MI HB5030

Housing: housing development authority; note and bond purchase for cancellation; modify. Amends sec. 30 of 1966 PA 346 (MCL 125.1430).

MI HB5031

Housing: housing development authority; restrictions on resident member voting rights; remove. Amends sec. 21 of 1966 PA 346 (MCL 125.1421).

MI SB0129

Economic development: brownfield redevelopment authority; certain housing activities; allow, and modify tax capture revenues. Amends title & secs. 2, 8, 8a, 11, 13, 13b, 13c, 14, 14a, 15 & 16 of 1996 PA 381 (MCL 125.2652 et seq.).

MI HB6216

Economic development: brownfield redevelopment authority; definitions of housing property and tax capture revenues and cap on total tax capture revenues; clarify definitions and modify cap. Amends secs. 2, 14a & 16 of 1996 of 381 (MCL 125.2652 et seq.).

MI HB5104

Economic development: other; critical industry program and Michigan strategic site readiness program; revise, and create Michigan 360 program. Amends secs. 5, 9, 88s & 88t of 1984 PA 270 (MCL 125.2005 et seq.) & adds secs. 88u & 88v. TIE BAR WITH: HB 5106'23

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