DEVELOPMENT FEES ACT CHANGES

HB 302 prevents New Mexico municipalities and counties from reducing development impact fees through "proportional share" calculations or requiring developers to waive rights under the Development Fees Act. It ensures developers receive full credit for contributions like park land dedications, infrastructure (water/wastewater lines, roads), or capital improvements without value reductions. Local governments cannot impose additional restrictions on using these credits, and existing agreements with such restrictions become invalid. The bill directly affects developers paying impact fees and local governments managing development fees, effective July 1, 2025.