MichiganBorrowers could finance housing projects with revenue bonds
Borrowers could use revenue bonds to finance housing projects, but officials must approve the bonds and a related bill must become law.
What it does
Borrowers could use revenue bonds to pay for housing projects. Officials must first approve the bonds, and this bill takes effect only if a related bill becomes law.
Argument forRevenue bonds could help borrowers pay for building or improving housing projects, with the bonds handled as negotiable instruments.
Argument againstUsing project income and contributions for bond payments could leave borrowers with less money for other project needs.
More detail
The bill would let a borrower use revenue bonds to pay for housing projects and would state that the bonds are negotiable instruments. A borrower may use the bonds to pay for buying, building, improving, enlarging, extending, or repairing one or more housing projects. Bonds cannot be issued until an ordinance or resolution authorizes them and describes the project, its location, and payment details. The bill takes effect only if House Bill 6347 is enacted into law. The bill takes effect only if House Bill 6347 is enacted into law.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Sep 29bill electronically reproduced 09/24/2026Latest
- Sep 24referred to Committee on FinanceMinor
- Sep 24read a first timeMinor
- Sep 24introduced by Representative Rep. Jason HoskinsIntroduced
HousingTaxes & Budget