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

This bill modifies the Michigan State Housing Development Authority Act to update how the authority issues short-term bonds for affordable housing projects. It lowers the required rehabilitation spending threshold from 30% to 15% for most projects, while allowing a lower threshold in distressed areas if the authority determines it benefits the community. The legislation also permits the authority to set higher income limits for existing affordable housing if the owner has struggled to maintain occupancy, and it adjusts application fees and loan commitment limits for new developments. These changes aim to make it easier for the authority to finance and support multifamily housing for low- and moderate-income individuals, students, and seniors.