Amends TCA Title 5 and Title 67, Chapter 4, Part 29.

Under present law, the County Powers Relief Act, which was enacted in 2006, prohibits counties from enacting an impact fee on development or a local real estate transfer tax by private or public act. The Act provides that it is the exclusive authority for local governments to adopt any new or additional adequate facilities taxes on development, but the Act does not prevent a municipality or county from exercising any authority to levy or collect similar development taxes or impact fees granted by a private act that was in effect prior to June 20, 2006, or from revising the dedicated use and purpose of a tax on new development from public facilities to public school facilities. A county levying a development tax or impact fee by private act on June 20, 2006, is prohibited from utilizing the authority granted by the Act so long as the private act is in effect. This bill creates an exemption of the above prohibition on counties imposing an impact fee. Under this bill, a county legislative body may impose an impact fee on development in the county in an amount related to the costs expected to be incurred by the county resulting from the new development. The county legislative body must earmark the revenues for this fee for investment in the area of the new development. A county legislative body that desires to impose an impact fee pursuant to this bill must approve the resolution by a two-thirds vote of the legislative body at two regular meetings held at least 90 days apart. The resolution considered at the second meeting must be identical to the resolution considered at the first meeting. The county legislative body must also provide an opportunity for public comment at an open meeting held no less than 30 days and no more than 60 days after the initial approval of the resolution.