NC H826

Reduces the minimum planning horizon for system development fees from 10 years to 5 years, effective October 1, 2018, for fees established or updated after that date.

Allows system development fee revenues pledged as security for revenue bonds to be deposited and applied according to bond documents and agreements, rather than strictly to capital reserve funds, effective July 1, 2018.

Changes the timing for collecting system development fees on land subdivisions to the later of plat recordation or when water or sewer service is committed by the local government.

Changes the timing for collecting system development fees on other new development to the earlier of application for service connection or when water or sewer service is committed.

Requires the Environmental Management Commission to update water and sewer usage rules by January 1, 2020, to reflect reduced consumption in new construction.