FL S0688

Defines "mobility fee" and "mobility plan" in Florida's Community Planning Act, with mobility plans required to promote compact, mixed-use, interconnected development served by multimodal transportation in urban or designated-urban areas

Requires local governments to allow development applicants to satisfy transportation concurrency requirements by entering a binding agreement to pay or construct their proportionate share of transportation improvements, after which the project is considered to have fully mitigated its transportation impacts

Mandates that counties and municipalities both charging developers transportation capacity fees must execute interlocal agreements by October 1, 2025, to coordinate impact mitigation and prevent developers from being charged twice for the same impacts; absent an agreement, developers receive a 10 percent fee reduction

Requires impact fee studies to be based on data generated within 4 years of a revised impact fee adoption, and new studies must be adopted within 12 months of initiation if the local government increases the fee

Protects holders of existing transportation or road impact fee credits when a local government transitions to an alternative transportation system, ensuring they retain the full benefit of the intensity and density prepaid by their credit balance as of the transition date