Concerning Impact Fee Deferrals.

The bill concerns the deferral of impact fees, which are charges imposed by local governments on new developments to help cover the costs of providing public services and infrastructure. The main purpose is to provide financial relief to developers by allowing them to postpone payment of these fees until certain conditions are met, such as when a certificate of occupancy is issued. This aims to promote economic development and construction projects by easing upfront financial burdens. The bill likely includes provisions outlining the eligibility criteria for deferrals, the timeline for repayment, and any penalties for non-compliance. It could have a significant impact on the real estate industry and local government revenue streams, potentially influencing community growth and development dynamics.

• 2023-01-12: First reading, referred to Housing.

• 2023-01-30: Public hearing in the House Committee on Housing at 1:30 PM.

• 2023-02-07: Executive action taken in the House Committee on Housing at 4:00 PM.

• 2023-02-07: HOUS - Majority; do pass.

• 2023-02-10: Referred to Rules 2 Review.

• 2023-03-04: Rules Committee relieved of further consideration. Placed on second reading.

• 2023-03-13: Referred to Rules 2 Consideration.

• 2024-01-08: By resolution, reintroduced and retained in present status.

• 2024-01-08: Rules Committee relieved of further consideration.

• 2024-01-08: Referred to Housing.