MI HB4540

Expands eligibility for Michigan Housing Development Authority grants and loans to include middle-income households, in addition to low-income, very low-income, and extremely low-income households

Removes the requirement that funded projects be located in downtown areas or adjacent neighborhoods, broadening geographic eligibility statewide

Adds community development financial institutions to the list of organizations eligible for assistance, alongside nonprofits, municipalities, and land bank authorities

Expands allowable assistance to include capacity building, local and regional planning, and housing studies for eligible organizations

Changes the authority's obligation to fund housing for persons with disabilities and people in distressed areas from mandatory ("shall") to discretionary ("may")

Requires the authority to consider advice from the Statewide Housing Partnership Council created by Executive Order 2022-10, replacing the previous advisory committee