Michigan State Housing Development Authority
On December 31, 2018, the U.S. Department of Treasury published final regulations amending the public approval requirements for tax-exempt private activity bonds. The Tax Equity and Fiscal Responsibility Act of 1982 ("TEFRA") provided for public notice, hearing and approval requirements set forth in Section 147(f) of the internal revenue code of 1986, as amended. The TEFRA Requirements must be satisfied as a precondition to the issuance of tax exempt private activity bonds. The Final TEFRA Regulations apply to all tax-exempt private activity bonds issued on or after April 1, 2019, by the Michigan State Housing Development Authority.