LRB-5302/1
EVM:cjs
2023 - 2024 LEGISLATURE
January 5, 2024 - Introduced by Senators Testin,
Ballweg, Spreitzer and
Wanggaard, cosponsored by Representatives Krug,
Shankland, Callahan,
Jacobson, Ohnstad, Penterman and VanderMeer. Referred to Committee on
Government Operations.
SB880,1,3
1An Act to create 66.1105 (17) (g) of the statutes;
relating to: limitations on the
2total value of taxable property that may be included in a tax incremental
3financing district created in the city of Stevens Point.
Analysis by the Legislative Reference Bureau
Under current law, the equalized value of taxable property of a new or amended
tax incremental district (TID) plus the value increment of all existing TIDs in a city
or village may not exceed 12 percent of the total equalized value of taxable property
in the city or village. Under this bill, the 12 percent rule does not apply to TID
Number 14 created by the city of Stevens Point. The exception expires upon the
termination of that TID.
For further information see the state and local fiscal estimate, which will be
printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
SB880,1
4Section 1
. 66.1105 (17) (g) of the statutes is created to read:
SB880,2,25
66.1105
(17) (g)
City of Stevens Point exception. The 12 percent limit described
6under sub. (4) (gm) 4. c. shall be 15 percent with regard to Tax Incremental District
1Number 14 that is created by the common council of the city of Stevens Point, except
2that this paragraph does not apply upon the termination of that district.
