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

This bill modifies Michigan's state housing development authority to update rules regarding the sale prices of affordable housing units. It allows the authority to make loans for projects where the average purchase price is capped at a specific limit relative to the average purchase price of similar units in the area. The changes primarily affect nonprofit housing corporations, cooperatives, and developers who build or rehabilitate homes for low- and moderate-income individuals. By adjusting these pricing constraints, the legislation aims to provide more flexible financing options while maintaining affordability standards for residents.