More Info on Impact Fees

The County Governments have mounted a strong opposition campaign against HB 1173 and SB 2302 relating to Impact Fees. They are spreading misrepresentations of the what the legislation really does - standardizing how Impact Fees are calculated and implemented.Counties fear that this legislation slashes or caps Impact Fees, but the truth is far from that. What the legislation really does is:

· Require that data used to determine impact fee calculations must be based on the most recent and accurate data available.
· Impact fee calculations should provide a credit for the full present value of all past and future taxes paid or payable for the next 25 years.
· If an impact fee must be increased, places a six-month grace period between adoption of the increase and the actual implementation, plus increases should not apply to building permits completed prior the effective date of the fee increase.
· Local governments should be required to report fees collected and spent, limit their administrative fees to three percent not to exceed actual costs, and require impact fees to be refunded, with interest, if fees are not spent within six years of collection.
· Impact fees shall be paid in whole or in part at the time of closing, with any remainder to be assessed as part of the local government's tax bill and paid over a five to 10-20 year period.Please follow the link below to send an email to your legislator.
Click the following link to take action on this issue.http://www.votervoice.net/Groups/FHBA/?Screen=Alert&IssueID=4430

Below is another link to the website. However, if that does not work, please copy and cut the address into your web browser. Thank you.

http://www.votervoice.net/core.aspx?Screen=Alert&IssueID=4430&SessionID=AID=226:APP=GAC

Any questions email Wayne at: wayne@fhba.com

~thanks for the info Wayne~