1     
IMPACT FEE REPORTING REQUIREMENTS

2     
2017 GENERAL SESSION

3     
STATE OF UTAH

4     
Chief Sponsor: John Knotwell

5     
Senate Sponsor: Daniel Hemmert

6     

7     LONG TITLE
8     General Description:
9          This bill amends provisions related to impact fees.
10     Highlighted Provisions:
11          This bill:
12          ▸     modifies the reporting requirements for a local political subdivision that collects an
13     impact fee; and
14          ▸     makes technical and conforming changes.
15     Money Appropriated in this Bill:
16          None
17     Other Special Clauses:
18          None
19     Utah Code Sections Affected:
20     AMENDS:
21          11-36a-601, as enacted by Laws of Utah 2011, Chapter 47
22     

23     Be it enacted by the Legislature of the state of Utah:
24          Section 1. Section 11-36a-601 is amended to read:
25          11-36a-601. Accounting of impact fees.
26          A local political subdivision that collects an impact fee shall:
27          (1) establish a separate interest bearing ledger account for each type of public facility
28     for which an impact fee is collected;
29          (2) deposit a receipt for an impact fee in the appropriate ledger account established
30     under Subsection (1);
31          (3) retain the interest earned on each fund or ledger account in the fund or ledger
32     account;
33          (4) at the end of each fiscal year, prepare a report [on] that:
34           (a) for each fund or ledger account [showing], shows:
35          [(a)] (i) the source and amount of all money collected, earned, and received by the fund
36     or ledger account during the fiscal year; and
37          [(b)] (ii) each expenditure from the fund or ledger account; [and]
38          [(5) produce a report that:]
39          (b) accounts for all impact fee funds that the local political subdivision has on hand at
40     the end of the fiscal year;
41          [(a)] (c) identifies the impact fee funds described in Subsection (4)(b) by:
42          (i) the year in which [they] the impact fee funds were received[,];
43          (ii) the project from which the impact fee funds were collected[, the impact fee
44     projects];
45          (iii) the project for which the impact fee funds [were] are budgeted[,]; and
46          (iv) the projected schedule for expenditure; and
47          [(b)] (d) is:
48          (i) in a format developed by the state auditor;
49          [(c) is] (ii) certified by the local political subdivision's chief financial officer; and
50          [(d) is] (iii) transmitted [annually] to the state auditor within 180 days after the day on
51     which the fiscal year ends.




Legislative Review Note
Office of Legislative Research and General Counsel