HB 2968

Requires the Housing and Community Services Department to guarantee a housing developer's payment of system development charges that the local government has agreed to defer until after occupancy.

Bill Text

• Introduced

The bill requires OHCS to guarantee a housing developer’s payment of deferred system development charges.

Original Bill Text

Sponsors#

Chief Sponsors: Mark Gamba, Cyrus Javadi, Annessa Hartman

Co-Sponsors: John Lively, Boomer Wright, Khanh Pham

Overview#

Digest: The Act makes OHCS guarantee a local government’s collection of a fee to be paid by a home builder on a delayed schedule. (Flesch Readability Score: 62.1). Requires the Housing and Community Services Department to guarantee a housing developer’s payment of system development charges that the local government has agreed to defer until after occupancy. Allows the department to assess a civil penalty and interest against defaulting developers. Allows the Department of Revenue to pursue collections against developers. Becomes operative on January 1, 2026. Establishes the Municipal Development Protection Fund for such purposes. Appropriates moneys to the fund. Declares an emergency, effective on passage.

Public Testimony

Legislative History