evidence_text: Rep. Coffia moved to amend the bill as follows:
  
  1. Amend page 12, line 19, after “program” by striking out “50,000,000” and inserting “100,000,000” and adjusting the subtotals, totals, and section 201 accordingly.
  
  2. Amend page 92, following line 6 by inserting:
  
  “Sec. 1138. (1) From the funds appropriated in part 1 for Michigan housing and community development program, the Michigan state housing development authority shall allocate $100,000,000.00 general fund/general purpose dollars to create a program to assist in the implementation of Michigan’s statewide housing plan by reducing housing cost burdens on Michigan residents and increasing the supply and preserving the existing supply of affordable housing. The program shall adhere to the requirements of this section.
  
  (2) As used in this section:
  
  (a) “Owner” means a limited dividend housing corporation as that term is defined in section 11 of the state housing development authority act of 1966, 1966 PA 346, MCL 125.1411, that owns the property funded with the affordable housing tax credit gap financing funds and controlled by the sponsor.
  
  (b) “LIHTC” means low-income housing tax credit, as defined by the United States Department of Housing and Urban Development.
  
  (c) “Authority” means the Michigan state housing development authority created in section 21 of the state housing development authority act of 1966, 1966 PA 346, MCL 125.1421.
  
  (3) From the funds appropriated in part 1 for Michigan housing and community development program, the authority may expend up to 5% of the funds for administration costs for the program.
  
  (4) The funds appropriated in part 1 for Michigan housing and community development program shall be allocated to help defray the costs of projects, sponsored by for-profit and nonprofit developers, that emphasize the creation of affordable housing supply in this state, as determined by the authority. Of the funds available for the program, grants or loans shall be allocated to developments that qualify for tax credits under section 42 of the internal revenue code of 1986, 26 USC 42, as follows:
  
  (a) Of the funds available for the program, 40% shall be allocated as a grant or forgivable loan to an eligible recipient for the development and construction of new affordable housing units through the authority’s pass-through bond program. For the purposes of this subsection, “new affordable housing units” means housing units that meet both of the following requirements:
  
  ( i ) Use of the property as multifamily housing commences after the owner’s acquisition and development of the property.
  
  ( ii ) The property has not been used as multifamily housing at any point during the 10-year period immediately prior to the owner’s acquisition of the property.
  
  (b) Of the funds available for the program, 20% shall be allocated as a grant or forgivable loan for the development or construction of affordable housing for projects awarded 9% tax credits under section 42 of the internal revenue code of 1986, 26 USC 42, and owners that have not received an unconditional form 8609 from the authority as of the effective date of this act. Priority of awards under this subsection shall be as follows:
  
  ( i ) First, to owners that received an initial LIHTC reservation on or before December 31, 2020.
  
  ( ii ) Next, after the priority in subparagraph ( i ), to owners that received an initial LIHTC reservation on or before December 31, 2021.
  
  ( iii ) Next, after the priorities in subparagraphs ( i ) and ( ii ), to owners that received an initial LIHTC reservation on or before December 31, 2022.
  
  ( iv ) Last, after the priorities in subparagraphs ( i ), ( ii ), and ( iii ), to owners that received an initial LIHTC reservation after December 31, 2022.
  
  (c) Of the funds available for the program, 25% shall be allocated as a grant, loan, or forgivable loan for the development or construction of affordable housing for properties that meet 1 or more of the following:
  
  ( i ) Have already received loans through the authority’s direct lending program.
  
  ( ii ) Are existing properties for projects that meet all of the following:
  
  (A) Are properties that previously obtained tax credits under section 42 of the internal revenue code of 1986, 26 USC 42.
  
  (B) Are properties subject to an existing use restriction from previously obtained tax credits.
  
  (C) Are properties that receive an allocation of volume cap through the authority’s direct lending program.
  
  (d) Of the funds available for the program, 15% shall be allocated as a grant or forgivable loan for the development or construction of affordable housing for properties that meet all of the following:
  
  ( i ) Are properties that previously obtained tax credits under section 42 of the internal revenue code of 1986, 26 USC 42.
  
  ( ii ) Are properties subject to an existing use restriction from previously obtained tax credits.
  
  ( iii ) Are properties that receive an allocation of volume cap through the authority’s pass-through bond program.
  
  (e) Notwithstanding existing rules or requirements under the authority’s pass-through bond program or direct lending program, the authority may set aside not more than 15% of the funds identified in subdivisions (a) through (d) for rural communities as designated by the United States Department of Agriculture and Rural Development.
  
  (f) Any request for funds allocated under subdivisions (a) through (d) shall include a letter of support from the municipality in which the property or project is located.
  
  (5) To the extent that any funds awarded by the authority under this program include federal funds received by this state under the federal American rescue plan act of 2021, Public Law 117-2, to ensure that all such funds are obligated on or before December 31, 2024, the following provisions shall apply:
  
  (a) Until April 1, 2024, American rescue plan act funds shall be obligated and deployed before any other funds.
  
  (b) After April 1, 2024, the set-aside identified in subsection (4)(e) no longer applies, and federal American rescue plan act funds shall be allocated on a first-come, first-serve basis until such funds are fully obligated to 1 or both of the following:
  
  ( i ) Any alternative method to achieve the program goals, if funds are administered in the form of a grant or forgivable loan.
  
  ( ii ) Any project that meets the requirements identified in subsection (4)(a) to (d).
  
  (6) The unexpended funds appropriated in part 1 for Michigan housing and community development program are designated as a work project appropriation, and any unencumbered or unallotted funds shall not lapse at the end of the fiscal year and shall be available for expenditure for projects under this section until the projects have been completed. The following is in compliance with section 451a of the management and budget act, 1984 PA 431, MCL 18.1451a:
  
  (a) The purpose of the project is to implement Michigan’s statewide housing plan by reducing housing costs for Michigan residents and increasing the supply of, and preserving existing, affordable housing.
  
  (b) The project will be accomplished by utilizing state employees or by contracts with service providers, or both.
  
  (c) The total estimated cost of the project is $100,000,000.00.
  
  (d) The tentative completion date is September 30, 2027.”.
  
  The motion prevailed and the amendments were adopted, a majority of the members serving voting therefor.