Limitations on the total value of taxable property that may be included in a tax incremental financing district created in the city of Port Washington, the official text

2025 - 2026 LEGISLATURE
LRB-2038/1
EVM:skw

2025 ASSEMBLY BILL 140
March 17, 2025 - Introduced by Representatives Brooks, Melotik, Armstrong and O'Connor, cosponsored by Senators Feyen and Habush Sinykin. Referred to Committee on Ways and Means.

An Act to create 66.1105 (17) (h) of the statutes; relating to: limitations on the total value of taxable property that may be included in a tax incremental financing 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:
Section 1. 66.1105 (17) (h) of the statutes is created to read:
66.1105 (17) (h) City of Port Washington exception. The 12 percent limit
described under sub. (4) (gm) 4. c. does not apply to the creation of Tax Incremental District Number 5 by the common council of the city of Port Washington.
(end)