Enacts new GS 160D-1321, providing as follows. Allows a city or county to adopt an ordinance (after public hearing) to impose impact fees on all new construction within its corporate limits. Requires cities imposing the fee to also impose impact fees on all new construction in its extraterritorial jurisdiction. Requires the amount of each fee to be uniform and based upon the capital costs to be incurred by the city/county because of the new construction. Defines capital costs as costs spent for developing community service facilities (as defined in the act); limits these costs to capital outlay items listed in the "Uniform Accounting System for Local Government in North Carolina" procedural manual. Also defines new construction and developer. Allows the creation of zones within which the costs of providing community service facilities are estimated. Requires funds for each community service facility for which an impact fee is collected to be placed in a separate capital reserve fund. Requires the ordinance to include credits against the required impact fees when a developer installs improvements that are of a type that generally would be paid for by the city/county out of a capital reserve account funded by impact fees. Sets out the process under which a developer may challenge an impact fee. Effective July 1, 2021.