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MI HB5030

Bill

Official Source

Status

Passed

12/31/2024

Primary Sponsor

Betsy Coffia

Click for details

Origin

House of Representatives

102nd Legislature

AI Summary

  • Amends the State Housing Development Authority law to modify provisions governing purchase of the authority's notes or bonds for cancellation purposes
  • Allows the authority to purchase notes or bonds at redemption price plus accrued interest (if redeemable) or at the applicable redemption price on the first redemption date plus accrued interest (if not currently redeemable)
  • Permits the authority to authorize purchase at a higher price than standard rates by resolution if it determines such higher price is in the authority's best interests
  • Effective date: April 2, 2025

Legislative Description

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

Housing: housing development authority

Last Action

Assigned Pa 191'24

12/31/2024

Committee Referrals

Housing And Human Services6/13/2024
Economic Development And Small Business9/20/2023

Full Bill Text

No bill text available