Amends TCA Title 68, Chapter 221.

Present law authorizes municipalities to assess a graduated storm water user's fee on each user of the storm water facilities provided by the municipality. The storm water fees must be reasonable in amount and based on actual or estimated use of the storm water and/or flood control facilities of the municipality. Present law requires that the fee structure provide adjustments for users who construct facilities to retain and control the quantity of storm water runoff.<br /> <br /> This bill adds to present law that a property owner is entitled to an abatement of storm water fees in an amount equal to the cost to the property owner of constructing each holding or retention pond for the purpose of capturing or retaining storm water on the owner's property pursuant to the federal Clean Water Act. In order to obtain the abatement authorized by this bill, a property owner must provide notice of the cost of construction of the holding or retention ponds to the municipality upon completion of construction. After receiving notice, the municipality is prohibited from charging the property owner the storm water fee until the abated fees equal the cost to the property owner of the construction of each holding or retention pond on the owner's property.<br />