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2020 SESSION

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HB 1564 Impact fees; residential development.

Introduced by: Mark L. Cole (by request) | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Impact fees; residential development. Authorizes any locality to impose impact fees on certain residential developments in order to defray the costs of constructing public facilities necessitated by those developments. Under current law, such impact fees may be imposed only by those localities that have established urban transportation service districts. The amount of the impact fee shall not exceed five percent of the sales price of the residential property, five percent of the assessed value of the property in the event that the property is transferred without a sale, or $10,000, whichever is less.


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