H826 - Clarify System Development Fees. (SL 2018-34)

Overview: S.L. 2018-34 amends the laws governing the imposition of system development fees to:

• Provide that the planning horizon used in calculating the system development fee is not less than five years, rather than 10 years, effective October 1, 2018.
• Clarify that if revenues from the system development fees are pledged to secure revenue bonds, the revenues may be used in accordance with the bond order, resolution, trust agreement or similar instrument authorizing and securing the bonds, effective July 1, 2018.
• Clarify the timing of the collection of system development fees, effective July 1, 2018.

The act also requires the Environmental Management Commission to review and revise certain rules related to per day usage to reflect newer construction methods no later than January 1, 2020.