SB5614 amends Washington's impact fee regulations to ensure new development pays for related public facilities.

SB5614 modifies Washington's impact fee laws to ensure that new development pays a proportionate share of the costs for new public facilities. Counties, cities, and towns can require developers to pay impact fees, which must be used for system improvements reasonably related to the new development. The bill outlines specific procedures for deferring impact fee payments, including the creation of promissory notes and deferred impact fee liens. It also sets penalties for late payments and conditions under which local governments can institute foreclosure proceedings.

SB5614 amends Washington's impact fee regulations to ensure new development pays for related public facilities.

SB5614 modifies Washington's impact fee laws to ensure that new development pays a proportionate share of the costs for new public facilities. Counties, cities, and towns can require developers to pay impact fees, which must be used for system improvements reasonably related to the new development. The bill outlines specific procedures for deferring impact fee payments, including the creation of promissory notes and deferred impact fee liens. It also sets penalties for late payments and conditions under which local governments can institute foreclosure proceedings.