| 1 | 1 | | LRB-4408/1 |
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| 2 | 2 | | EVM:cjs |
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| 3 | 3 | | 2023 - 2024 LEGISLATURE |
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| 4 | 4 | | 2023 ASSEMBLY BILL 983 |
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| 5 | 5 | | January 24, 2024 - Introduced by Representatives KRUG, SHANKLAND, CALLAHAN, |
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| 6 | 6 | | JACOBSON, OHNSTAD, PENTERMAN and VANDERMEER, cosponsored by Senators |
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| 7 | 7 | | TESTIN, BALLWEG, SPREITZER and WANGGAARD. Referred to Committee on Ways |
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| 8 | 8 | | and Means. |
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| 9 | 9 | | ***AUTHORS SUBJECT TO CHANGE*** |
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| 10 | 10 | | AN ACT to create 66.1105 (17) (g) of the statutes; relating to: limitations on the |
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| 11 | 11 | | total value of taxable property that may be included in a tax incremental |
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| 12 | 12 | | financing district created in the city of Stevens Point. |
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| 13 | 13 | | Analysis by the Legislative Reference Bureau |
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| 14 | 14 | | Under current law, the equalized value of taxable property of a new or amended |
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| 15 | 15 | | tax incremental district (TID) plus the value increment of all existing TIDs in a city |
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| 16 | 16 | | or village may not exceed 12 percent of the total equalized value of taxable property |
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| 17 | 17 | | in the city or village. Under this bill, the 12 percent rule does not apply to TID |
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| 18 | 18 | | Number 14 created by the city of Stevens Point. The exception expires upon the |
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| 19 | 19 | | termination of that TID. |
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| 20 | 20 | | For further information see the state and local fiscal estimate, which will be |
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| 21 | 21 | | printed as an appendix to this bill. |
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| 22 | 22 | | The people of the state of Wisconsin, represented in senate and assembly, do |
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| 23 | 23 | | enact as follows: |
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| 24 | 24 | | SECTION 1. 66.1105 (17) (g) of the statutes is created to read: |
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| 25 | 25 | | 66.1105 (17) (g) City of Stevens Point exception. The 12 percent limit described |
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| 26 | 26 | | under sub. (4) (gm) 4. c. shall be 15 percent with regard to Tax Incremental District |
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| 32 | 32 | | 6 - 2 -2023 - 2024 Legislature LRB-4408/1 |
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| 33 | 33 | | EVM:cjs |
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| 34 | 34 | | SECTION 1 ASSEMBLY BILL 983 |
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| 35 | 35 | | Number 14 that is created by the common council of the city of Stevens Point, except |
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| 36 | 36 | | that this paragraph does not apply upon the termination of that district. |
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| 37 | 37 | | (END) |
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