Michigan SB0278 amends the Michigan housing and community development fund to modify allocation and usage criteria.

Michigan SB0278 modifies the Michigan housing and community development fund by adjusting allocation criteria and usage. The fund must allocate at least 25% for rental housing projects and 30% for projects targeting extremely low-income households. The authority must hold public hearings and consider advice from the statewide housing partnership council. Funds not committed by the end of a fiscal year must be reallocated for the next year. The authority must issue an annual report summarizing fund expenditures.

Michigan SB0278 amends the Michigan housing and community development fund to modify allocation and usage criteria.

Michigan SB0278 modifies the Michigan housing and community development fund by adjusting allocation criteria and usage. The fund must allocate at least 25% for rental housing projects and 30% for projects targeting extremely low-income households. The authority must hold public hearings and consider advice from the statewide housing partnership council. Funds not committed by the end of a fiscal year must be reallocated for the next year. The authority must issue an annual report summarizing fund expenditures.