Florida Senate - 2006                      COMMITTEE AMENDMENT
    Bill No. SB 1196
                        Barcode 275220
                            CHAMBER ACTION
              Senate                               House
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 1           Comm: WD              .                    
       04/05/2006 09:07 AM         .                    
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11  The Committee on Community Affairs (Bennett) recommended the
12  following amendment to amendment (821648):
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14         Senate Amendment (with title amendment) 
15         On page 2, between lines 23 & 24,
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17  insert:  
18         (f)  Include in the calculation of the amount of the
19  fee to be paid a credit for the full present value of all
20  taxes, fees, assessments, liens, charges, or other payments of
21  any kind that have been or will be available to the local
22  government or other facility provider and that will be used to
23  construct capital outlay projects of the same type for which
24  the impact fee is imposed. The calculation of the credit shall
25  estimate such payments for a period of not less than the
26  useful life of the type of project for which the fee is
27  imposed; shall include adjustments in the estimated annual
28  payments to account for inflation, increased taxable values,
29  and increased payments; shall use a discount rate no greater
30  than the current costs of borrowing to finance such capital
31  improvements; and shall be based solely upon the estimated
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    4:57 PM   04/03/06                              s1196.ca21.00a


    Florida Senate - 2006                      COMMITTEE AMENDMENT
    Bill No. SB 1196
                        Barcode 275220
 1  payments from new development and the property upon which the
 2  new development is located. A local government that imposed an
 3  impact fee shall also provide a credit for all taxes or other
 4  payments of any kind through state, federal, or other revenues
 5  anticipated to be expended to construct capital outlay
 6  projects of the same type for which the impact fee is imposed.
 7         (g)  Specify that impact fees may only be used to
 8  supplement other funds utilized to construct capital outlay
 9  projects.
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12  ================ T I T L E   A M E N D M E N T ===============
13  And the title is amended as follows:
14         On page 5, line 9, before the semicolon
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16  insert:
17         , include certain credits, specify that impact
18         fees must be utilized to supplement certain
19         funds
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    4:57 PM   04/03/06                              s1196.ca21.00a