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| SPONSOR: | Varela | DATE TYPED: | 02/22/01 | HB | 334 | ||
| SHORT TITLE: | Waive Impact Fee for Affordable Housing | SB | |||||
| ANALYST: | Williams | ||||||
| Subsequent
Years Impact |
Recurring
or Non-Rec |
Fund
Affected | ||
| FY01 | FY02 | |||
| No Significant Fiscal Impact | State Government | |||
| Loss | Local Government | |||
(Parenthesis ( ) Indicate Revenue Decreases)
SOURCES OF INFORMATION
LFC Files
Department of Finance and Administration
SUMMARY
Synopsis of Bill
The bill authorizes municipalities and counties to waive impact fee requirements for affordable housing projects.
FISCAL IMPLICATIONS
The bill would have no state fiscal impacts. Local governments collecting impact fees would experience a revenue reduction. Local Government Division at the Department of Finance and Administration reports the extent of the fiscal impact on local governments is unknown.
In FY99, the Local Government Division's "Financial and Property Tax Data" report indicated municipalities collected total impact fees of $35,101, while counties collected $16,639. The extent to which various categories of construction projects contributed to these receipts is not known by LFC staff.
AW/njw