March 7, 2025 - Introduced by Senators Feyen and Habush Sinykin, cosponsored by Representatives Brooks, Melotik, Armstrong and O'Connor. Referred to Committee on Government Operations, Labor and Economic Development.
SB122,1,3
1An Act to create 66.1105 (17) (h) of the statutes; relating to: limitations on
2the total value of taxable property that may be included in a tax incremental
3financing district created in the city of Port Washington. 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 5 created by the city of Port Washington.
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:
SB122,14Section 1. 66.1105 (17) (h) of the statutes is created to read: SB122,2,2566.1105 (17) (h) City of Port Washington exception. The 12 percent limit
1described under sub. (4) (gm) 4. c. does not apply to the creation of Tax Incremental 2District Number 5 by the common council of the city of Port Washington.
