NC H405

Requires homebuilders who receive refunds of impact fees from counties (due to lack of authority to impose fees) to reimburse homeowners who paid any portion of those fees as part of their home purchase price.

Requires homebuilders who receive refunds of impact fees from cities (due to lack of authority to impose fees) to reimburse homeowners who paid any portion of those fees as part of their home purchase price.

Defines "impact fee" to include facility fees, project fees, capacity fees, and any other fees requiring developers or homeowners to pay amounts for capital costs associated with new construction.

Clarifies that homebuilders are not required to reimburse homeowners who did not pay any portion of the impact fee as part of the home's purchase price.

Applies when homebuilders receive refunds through court judgment or settlement agreements.