Multijurisdictional business improvement districts, annual reports for neighborhood improvement districts, and certain notifications for neighborhood improvement districts and business improvement districts. (FE)
Under AB622, municipalities that create a multijurisdictional BID must appoint a single board to govern the district, with members confirmed by local legislative bodies. Each participating municipality retains responsibility for collecting and depositing funds associated with properties in its jurisdiction, ensuring localized control over assessments and expenditures. The bill also modifies financial reporting requirements for both BIDs and NIDs, mandating independent audits based on the cash balance of the district’s accounts, which increases transparency and accountability in financial management. Such changes could enhance the effectiveness of these districts in supporting local businesses and improving community amenities.
Assembly Bill 622 introduces several significant amendments to the existing statutes governing business improvement districts (BIDs) and neighborhood improvement districts (NIDs) in Wisconsin. The bill allows for the formation of a multijurisdictional BID by two or more municipalities, which can serve as a collective entity to enhance business environments across shared geographical boundaries. This initiative aims to streamline efforts in economic development by enabling collaborative financing and management of improvement projects that benefit local businesses. Under current law, each municipality can only establish its own district, making collaboration on common goals challenging.
One area of potential contention surrounding AB622 is the balance of authority between individual municipalities and the newly proposed multijurisdictional authority. While proponents argue that this collaborative approach will reduce bureaucratic hurdles and provide greater resources for local improvements, critics may raise concerns regarding overreach of the multijurisdictional board over local priorities and decision-making processes. The requirement for proper public notice and hearings for the establishment and operations of such districts aims to mitigate these issues, but localized dialogues on whether these changes indeed benefit their communities will be essential.
The measure promotes economic growth through cooperative actions among municipalities but must navigate the complexities of differing local needs and priorities. The success of AB622's implementation will depend on effective communication and engagement between the involved municipalities and their constituents.