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Committee hears broad support for state low-income housing tax credit to expand affordable housing
Summary
MSHDA, developers and investors told the House Regulatory Reform Committee a new state low-income housing tax credit paired with the federal LIHTC could unlock projects, expand development geography and help close an estimated 100,000-unit shortfall; witnesses described timelines, compliance and likely costs.
Michigan State Housing Development Authority officials, developers and private investors testified before the House Regulatory Reform Committee in support of a proposed state low-income housing tax credit (bills HB5805–HB5807) designed to pair with the federal Low-Income Housing Tax Credit (LIHTC).
Jennifer Bowman, director of federal and strategic initiatives at MSHDA, said the agency has continued to refine the draft with the chair, treasury and stakeholders and urged support, telling the committee "Michigan is in a housing crisis, and we are short a 100,000 plus units." She said a state credit would help leverage federal resources and produce additional units across the state.
MSHDA staff (identified in the hearing record) explained program mechanics and timelines, noting the federal LIHTC dates to the 1986…
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