AB687: Bill Text

LRB-4575/1

MES:ahe

2019 - 2020 LEGISLATURE

2019 Assembly BILL 687

December 20, 2019 - Introduced by Representatives Vos and McGuire, cosponsored by Senators Wanggaard and Wirch. Referred to Committee on Ways and Means.

AB687,1,4 An Act to amend 66.1105 (20) (c) 2. of the statutes; relating to: increasing the expenditure period for certain capital expenditures made by a tax incremental financing district created in an electronics and information technology manufacturing zone.

Analysis by the Legislative Reference Bureau

With regard to a tax incremental financing district (TID) that is created in an electronics and information technology manufacturing zone, the creating city or village may incur project costs for certain specified items, such as capital expenditures for constructing or expanding fire stations. Such capital expenditures may be made only for the first 84 months following the TID's creation. Under this bill, that time period is increased to 180 months.

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:

AB687,1 Section 1. 66.1105 (20) (c) 2. of the statutes is amended to read:

AB687,2,10 66.1105 (20) (c) 2. Notwithstanding the provisions of sub. (2) (f) 2. a. and c., the cost of constructing or expanding fire stations, purchasing police and fire equipment, and the cost of general government operating expenses related to providing police and fire protection services, provided that the total of such expenditures do not exceed, over the district's lifetime, 15 percent of the total positive tax increments received by the creating city over the district's lifetime. With regard to capital expenditures that may be made under this subdivision, such expenditures may be made only for the first 84 180 months following the district's creation, and any expenditures made under this subdivision for constructing or expanding fire stations may be made only for fire stations located within a one-mile radius of the electronics and information technology manufacturing zone that is designated under s. 238.396 (1m).

AB687,2,11 (End)