FY 2025: A Year of Housing Impact
FY 2024: Year At-A-Glance
MSHDA Communications Contact
Katie Bach, Communications Director and Transparency Liaison
Email: bachk@michigan.gov
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.
The Michigan State Housing Development Authority (the “Authority”) is the authorized program administrator for Mortgage Credit Certificates (MCCs) in Michigan. MCCs are a form of federal income tax credit to qualified homebuyers. The Authority has received an allocation of bond volume cap from the State of Michigan Treasurer. The Authority has made an election not to issue bonds in order to obtain authority to issue MCCs. The Authority intends to issue MCCs to qualified home buyers in Michigan according to the requirements found in the document linked below no sooner than ninety days from the date of this notice being posted to the public.
PUBLIC NOTICE TO QUALIFIED HOMEBUYERS MORTGAGE CREDIT CERTIFICATE (MCC) PROGRAM 3-20-26
Per Statute 125.145B, Section 58b of Act 346, the Michigan State Housing Development Authority (MSHDA) "shall issue an annual report to the governor and the legislature summarizing the expenditures of the fund for the prior fiscal year including at a minimum a description of the eligible applicants that received funding, the number of housing units that were produced, the income levels of the households that were served, the number of homeless persons served, and the number of downtown areas and adjacent neighborhoods that receive financing."
