HB 298

Amends GS 162A-213, concerning the timing of the collection of system development fees by local governments, to allow for system development fees to be paid in installments for new nonresidential development with a calculated increased flow rate between 325 to 2,500 gallons per day, but requires that the interest rate accrue on installments at a rate no greater than that rate established by the Secretary of Revenue for the interest that accrues on overpayments and assessments of tax on the date of connection, spread over three years or less from the time of application for a building permit or the time the application for connection for the individual unit of development to the service or facilities, whichever is first.