SB 468 Summary

• Repeals exemptions from school impact fees for nonresidential development and housing subject to transient accommodations tax in designated school impact districts.

• Allows construction cost component impact fees to be used for improving or renovating existing school structures, in addition to expanding student capacity in new or existing schools.

• Prohibits use of construction cost component impact fees to replace an existing school 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.