Reps. GOVAN, PENDARVIS, and MATTHEWS proposes the following Amendment No.     to H.5201 as introduced by Ways & Means

(Doc Name COUNCIL\DG\5201C004.NBD.DG20.DOCX):

EXPLANATION:

Amend the bill, as and if amended, Part IB, Section 113, AID TO SUBDIVISIONS- STATE TREASURER, page 470, after line 14, by adding an appropriately numbered paragraph to read:

/ (AS-TREAS: Impact Fees) In the current fiscal year, if a county or municipality imposes a developmental impact fee that causes housing expenditures to exceed thirty percent of household income that the U.S. Department of Housing and Urban Development recognizes as an indicator of a housing affordability problem, then the county or municipality shall have its portion of the Aid to Subdivisions, Local Government Fund withheld in an amount equal to the amount of revenue generated by the impact fee. Also, if a county or municipality imposes a developmental impact fee on residential units before preparing a report that estimates the effect of recovering capital costs through impact fees on the availability of affordable housing within the jurisdiction, then the county or municipality shall have its entire portion of the Aid to Subdivisions, Local Government Fund withheld. /

Amend totals and titles to conform.