S.B. 468 Summary

• Eliminates school impact fee exemptions for nonresidential development and housing subject to transient accommodations tax in designated school impact districts requiring county subdivision approval, building permits, or condominium property regime approval.

• Expands allowable uses of construction cost component impact fees to include improving or renovating existing structures for school use, in addition to expanding student capacity in new or existing schools.

• Prohibits construction cost component impact fees from being used to replace an existing school located within the same school impact district.

• Removes the requirement that an expenditure plan for collected impact fees be incorporated into the Department of Education's annual budget process and subject to legislative approval.

• Effective date: December 1, 2050.