Mitigation Fee Act: development impact fees: qualified residential ownership and qualified rental projects.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Housing and Community Development
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill aims to reduce or eliminate development impact fees for certain types of housing projects in California. It requires local agencies to offer qualified residential rental projects the option of paying no fees or receiving a development impact fee deferral loan. Similarly, qualified residential ownership projects can choose between zero fees or a loan for each income-qualified homebuyer. The bill defines key terms like ‘development impact fee’ and specifies which fees are excluded, such as those for code enforcement.
Key provisions
- Local agencies must offer a choice between zero development impact fees and a deferral loan for qualified residential rental projects.
- Local agencies must offer a choice between zero development impact fees and a deferral loan for qualified residential ownership projects.
- The deferral loan terms for both project types include a maximum interest rate of 3% per annum and a loan term of 30 or 55 years.
- ‘Development impact fee’ is defined as a fee collected to fund public improvements or facilities, excluding fees for code enforcement and other regulatory services.
- ‘Qualified residential rental project’ is defined as a residential development with 100% of units reserved for lower-income renters.
- ‘Qualified residential ownership project’ is defined as a residential development with 100% of units reserved for lower-income homebuyers.
- The bill excludes fees related to school facilities and certain enforcement costs.
Bill text
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Sponsors
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1 on record
Primary sponsor
Ávila Farías
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