Allows local governments to collect system development fees for new nonresidential developments in installments.

This bill modifies the collection of system development fees for new nonresidential developments in North Carolina. It allows local governments to collect these fees in installments for developments with a calculated increased flow rate between 325 and 2,500 gallons per day. The installments must accrue interest at a rate not greater than that established by the Secretary of Revenue. The act becomes effective upon enactment and applies to fees imposed after that date.

Allows local governments to collect system development fees for new nonresidential developments in installments.

This bill modifies the collection of system development fees for new nonresidential developments in North Carolina. It allows local governments to collect these fees in installments for developments with a calculated increased flow rate between 325 and 2,500 gallons per day. The installments must accrue interest at a rate not greater than that established by the Secretary of Revenue. The act becomes effective upon enactment and applies to fees imposed after that date.