Housing: housing development authority; note and bond purchase for cancellation; modify. Amends sec. 30 of 1966 PA 346 (MCL 125.1430).

This bill modifies the rules for the Michigan Housing Development Authority, allowing it to buy back its own debt notes and bonds to cancel them. Under the new provisions, the authority can purchase these debts at their standard redemption price plus interest, or at a higher price if it determines that doing so serves the organization's best interests. This change gives the agency more flexibility to manage its financial obligations without needing to wait for debts to reach their original maturity dates. The update applies to the authority's existing funds and becomes effective on April 2, 2025.