CA AB1716

Requires school districts to reimburse developers for interest accrued on supplemental development fees during the interim period before the district receives state funding for school construction.

Allows school districts to increase development fees up to double the standard amount when state funds for new school facility construction are unavailable, as determined by the State Allocation Board.

Permits developers to accept a reimbursement election that provides monetary reimbursement of supplemental fees plus accrued interest once the district receives state construction funds, minus any interim housing costs.

Allows reimbursement elections to be made on a tract or lot basis at the developer's option, with reimbursement paid within 30 days of fund receipt.

Permits school districts and developers to negotiate alternative reimbursement agreements by mutual consent.