MI SB1125

Increases the aggregate principal amount limit for the Michigan State Housing Development Authority's outstanding bonds and notes from $4,200,000,000 to $3,400,000,000 effective after November 1, 2014, with an exception for bonds and notes issued on or before that date that exceed the new limit.

Authorizes the authority to pledge letters of credit, insurance policies, surety bonds, guarantees, or other security arrangements (retroactively effective June 1, 1993) in addition to or instead of depositing money directly into capital reserve funds, subject to state treasurer approval.

Requires the authority to accumulate capital reserve funds equal to established requirements and certify any deficiencies to the governor and budget director for inclusion in the annual budget.

Mandates annual reporting to the governor and legislature on housing production goals, program outcomes, tenant demographics, economic impacts, and compliance with low-income housing priorities for multifamily dwellings.

Requires annual review of all loans, financial instruments, and lines of credit with the Michigan Broadband Development Authority, including analysis of repayment ability and high-speed internet adoption in authority-financed developments.