§ 36-7-4-1305 — "Impact fee" and "capital costs" defined

(a) As used in this series, "impact fee"
means a monetary charge imposed on new development by a unit to
defray or mitigate the capital costs of infrastructure that is required by,
necessitated by, or needed to serve the new development.
(b) As used in this section, "capital costs" means the costs incurred
to provide additional infrastructure to serve new development,
including the following:
(1) Directly related costs of construction or expansion of
infrastructure that is necessary to serve the new development,
including reasonable design, survey, engineering, environmental,
and other professional fees that are directly related to the
construction or expansion.
(2) Directly related land acquisition costs, including costs
incurred for the following:
(A) Purchases of interests in land.
(B) Court awards or settlements.
(C) Reasonable appraisal, relocation service, negotiation
service, title insurance, expert witness, attorney, and other
professional fees that are directly related to the land acquisition.
(3) Directly related debt service, subject to section 1330 of this
chapter.
(4) Directly related expenses incurred in preparing or updating the
comprehensive plan or zone improvement plan, including all
administrative, consulting, attorney, and other professional fees,
as limited by section 1330 of this chapter.

Legislative History

As added by P.L.221-1991, SEC.6.