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12/14/22 - Michigan Works To Find More Affordable Housing

Wednesday, December 14, 2022 at 9:07 AM

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The Governor signs bills that are aimed at expanding affordable housing opportunities in Michigan.

LANSING, Mich. --  Governor Gretchen Whitmer signed a bill package that supports the development of more affordable housing units in a number of communities across Michigan.   

The bills will help alleviate the shortage of affordable housing for Michigan families by creating more affordable housing options, with a particular focus on creating new housing units.     

Senate Bill 362 establishes attainable housing districts and provides certain tax exemptions for residential rehabilitation projects.

Senate Bill 364 supports the development and rehabilitation of residential housing and expands incentives for neighborhood enterprise zones.    

Senate Bill 422 supports the establishment of residential housing districts in certain local governmental units by providing exemptions from certain taxes for residential facilities and housing.    

Senate Bill 432 creates a state housing development authority, establishes certain funds to support housing development, land acquisition and development, rehabilitation, and more. This legislation also establishes acceleration and foreclosure procedures, provides tax exemptions, authorizes payments instead of taxes by certain entities, and authorizes the making and purchase of loans, deferred payment loans, and grants. 

House Bills 4378 and 4379 ensure individuals who need whole-home generators for the continuous operation of medical equipment are not financially penalized.

House Bill 4378 accomplishes this by amending the General Property Tax Act to specify that  installing, replacing, or repairing a whole-home generator should be considered normal maintenance for the purpose of determining a property’s true cash value. The bill also extends the current-year policy to allow personal property to be taxed at its ordinary business location for the 2023 tax year to accommodate continued remote work practices. 

House Bill 4379 modifies the definition of “new construction” under the Michigan Economic Growth Authority Act.

Governor Whitmer says that the bills she signed this week will build on the work she has started to help more families get into a home that meets their budget.   

 

 

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