Wisconsin 2023-2024 Regular Session

Wisconsin Senate Bill SB787 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	Date of enactment: March 21, 2024
2		-	2023 Senate Bill 787 Date of publication*: March 22, 2024
3		-	2023 WISCONSIN ACT 135
4		-	AN ACT to amend 66.0602 (1) (d), 66.0602 (3) (dq) 1. (intro.) and 66.0602 (3) (dv); and to create 66.1105 (5) (bu)
5		-	and 66.1105 (6) (g) 4. of the statutes; relating to: local levy increase limit calculations and exception to extension
6		-	of tax incremental district lifespan for a tax incremental financing district created in the city of Evansville and limita-
7		-	tions on the total value of taxable property that may be included in a tax incremental financing district created in the
8		-	city of Evansville.
9		-	The people of the state of Wisconsin, represented in
10		-	senate and assembly, do enact as follows:
11		-	SECTION 1. 66.0602 (1) (d) of the statutes, as affected
12		-	by 2023 Wisconsin Act 12, is amended to read:
13		-	66.0602 (1) (d) “Valuation factor” means a percent-
14		-	age equal to the greater of either the percentage change
15		-	in the political subdivision’s January 1 equalized value
16		-	due to new construction less improvements removed
17		-	between the previous year and the current or 0 percent.
18		-	For a tax incremental district created after December 31,
19		-	2024, and for Tax Incremental District Number 10 cre-
20		-	ated by the common council of the city of Evansville, the
21		-	valuation factor includes 90 percent of the equalized
22		-	value increase due to new construction that is located in
23		-	a tax incremental district, but does not include any
24		-	improvements removed in a tax incremental district.
25		-	SECTION 2. 66.0602 (3) (dq) 1. (intro.) of the statutes,
26		-	as created by 2023 Wisconsin Act 12, is amended to read:
27		-	66.0602 (3) (dq) 1. (intro.) For a tax incremental dis-
28		-	trict created after December 31, 2024, and for Tax Incre-
29		-	mental District Number 10 created by the common coun-
30		-	cil of the city of Evansville, if the department of revenue
31		-	does not certify a value increment for the tax incremental
32		-	district for the current year as a result of the district’s ter-
33		-	mination, the levy increase limit otherwise applicable
34		-	under this section in the current year to the political sub-
35		-	division in which the district is located is increased by all
36		-	of the following amounts:
37		-	SECTION 3. 66.0602 (3) (dv) of the statutes, as created
38		-	by 2023 Wisconsin Act 12, is amended to read:
39		-	66.0602 (3) (dv) For a tax incremental district created
40		-	after December 31, 2024, and for Tax Incremental Dis-
41		-	trict Number 10 created by the common council of the
42		-	city of Evansville, if the department of revenue recerti-
43		-	fies the tax incremental base of a tax incremental district
44		-	as a result of the district’s subtraction of territory under
45		-	s. 66.1105 (4) (h) 2., the levy limit otherwise applicable
46		-	under this section shall be adjusted in the first levy year
47		-	in which the subtracted territory is not part of the value
48		-	increment. In that year, the political subdivision in which
49		-	the district is located shall increase the levy limit other-
50		-	wise applicable by an amount equal to the political subdi-
51		-	vision’s maximum allowable levy for the immediately
52		-	preceding year, multiplied by a percentage equal to 10
53		-	percent of the amount determined by dividing the equal-
54		-	ized value increase, calculated as provided in par. (dq) 2.,
55		-	attributable to the territory that was subtracted, calcu-
56		-	lated for the previous year, by the political subdivision’s
57		-	* Section 991.11, WISCONSIN STATUTES: Effective date of acts. “Every act and every portion of an act enacted by the legislature over the governor’s
58		-	partial veto which does not expressly prescribe the time when it takes effect shall take effect on the day after its date of publication.” − 2 −2023 Wisconsin Act 135 2023 Senate Bill 787
59		-	equalized value, exclusive of any tax incremental district
60		-	value increments, for the previous year, all as determined
61		-	by the department of revenue.
62		-	SECTION 4. 66.1105 (5) (bu) of the statutes is created
63		-	to read:
64		-	66.1105 (5) (bu) The Tax Incremental District Num-
65		-	ber 10 that is created by the common council of the city
66		-	of Evansville shall count as exactly 4 percent of equal-
67		-	ized value for purposes of the requirement that the total
68		-	equalized value not exceed 12 percent, as described in
69		-	sub. (4) (gm) 4. c.
70		-	SECTION 5. 66.1105 (6) (g) 4. of the statutes is created
71		-	to read:
72		-	66.1105 (6) (g) 4. This paragraph does not apply to
73		-	Tax Incremental District Number 10 in the city of
74		-	Evansville.
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	3	+	2023 - 2024 LEGISLATURE
	4	+	2023 SENATE BILL 787
	5	+	December 8, 2023 - Introduced by Senators MARKLEIN, SPREITZER, BALLWEG, L.
	6	+	JOHNSON, TESTIN and QUINN, cosponsored by Representatives NOVAK, C.
	7	+	ANDERSON, HURD, JACOBSON, S. JOHNSON, OHNSTAD, OLDENBURG and TRANEL.
	8	+	Referred to Committee on Government Operations.
	9	+	AN ACT to create 66.1105 (17) (g) of the statutes; relating to: limitations on the
	10	+	total value of taxable property that may be included in a tax incremental
	11	+	financing district created in the city of Evansville.
	12	+	Analysis by the Legislative Reference Bureau
	13	+	Under current law, the equalized value of taxable property of a new or amended
	14	+	tax incremental district (TID) plus the value increment of all existing TIDs in a city
	15	+	or village may not exceed 12 percent of the total equalized value of taxable property
	16	+	in the city or village. Under this bill, the 12 percent rule does not apply to TID
	17	+	Number 10 created by the city of Evansville. The exception expires upon the
	18	+	termination of that TID.
	19	+	For further information see the state and local fiscal estimate, which will be
	20	+	printed as an appendix to this bill.
	21	+	The people of the state of Wisconsin, represented in senate and assembly, do
	22	+	enact as follows:
	23	+	SECTION 1. 66.1105 (17) (g) of the statutes is created to read:
	24	+	66.1105 (17) (g) City of Evansville exception. The 12 percent limit described
	25	+	under sub. (4) (gm) 4. c. does not apply with regard to Tax Incremental District
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	33	+	SECTION 1 SENATE BILL 787
	34	+	Number 10 that is created by the common council of the city of Evansville, except that
	35	+	this paragraph does not apply upon the termination of that district.
	36	+	(END)
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