Date of enactment: March 21, 2024
2023 Senate Bill 880 Date of publication*: March 22, 2024
2023 WISCONSIN ACT 136
AN ACT to amend 66.0602 (1) (d), 66.0602 (3) (dq) 1. (intro.) and 66.0602 (3) (dv); and to create 66.1105 (6) (g)
4. and 66.1105 (17) (g) of the statutes; relating to: requirements related to a tax incremental financing district created
in the city of Stevens Point.
The people of the state of Wisconsin, represented in
senate and assembly, do enact as follows:
SECTION 1. 66.0602 (1) (d) of the statutes, as affected
by 2023 Wisconsin Act 12, is amended to read:
66.0602 (1) (d) “Valuation factor” means a percent-
age equal to the greater of either the percentage change
in the political subdivision’s January 1 equalized value
due to new construction less improvements removed
between the previous year and the current or 0 percent.
For a tax incremental district created after December 31,
2024, and for Tax Incremental District Number 14 cre-
ated by the common council of the city of Stevens Point,
the valuation factor includes 90 percent of the equalized
value increase due to new construction that is located in
a tax incremental district, but does not include any
improvements removed in a tax incremental district.
SECTION 2. 66.0602 (3) (dq) 1. (intro.) of the statutes,
as created by 2023 Wisconsin Act 12, is amended to read:
66.0602 (3) (dq) 1. (intro.) For a tax incremental dis-
trict created after December 31, 2024, and for Tax Incre-
mental District Number 14 created by the common coun-
cil of the city of Stevens Point, if the department of
revenue does not certify a value increment for the tax
incremental district for the current year as a result of the
district’s termination, the levy increase limit otherwise
applicable under this section in the current year to the
political subdivision in which the district is located is
increased by all of the following amounts:
SECTION 3. 66.0602 (3) (dv) of the statutes, as created
by 2023 Wisconsin Act 12, is amended to read:
66.0602 (3) (dv) For a tax incremental district created
after December 31, 2024, and for Tax Incremental Dis-
trict Number 14 created by the common council of the
city of Stevens Point, if the department of revenue recer-
tifies the tax incremental base of a tax incremental district
as a result of the district’s subtraction of territory under
s. 66.1105 (4) (h) 2., the levy limit otherwise applicable
under this section shall be adjusted in the first levy year
in which the subtracted territory is not part of the value
increment. In that year, the political subdivision in which
the district is located shall increase the levy limit other-
wise applicable by an amount equal to the political subdi-
vision’s maximum allowable levy for the immediately
preceding year, multiplied by a percentage equal to 10
percent of the amount determined by dividing the equal-
ized value increase, calculated as provided in par. (dq) 2.,
attributable to the territory that was subtracted, calcu-
lated for the previous year, by the political subdivision’s
equalized value, exclusive of any tax incremental district
value increments, for the previous year, all as determined
by the department of revenue.
* 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
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 136 2023 Senate Bill 880
SECTION 4. 66.1105 (6) (g) 4. of the statutes is created
to read:
66.1105 (6) (g) 4. This paragraph does not apply to
Tax Incremental District Number 14 in the city of Ste-
vens Point.
SECTION 5. 66.1105 (17) (g) of the statutes is created
to read:
66.1105 (17) (g) City of Stevens Point exception. The
12 percent limit described under sub. (4) (gm) 4. c. does
not apply to the creation of Tax Incremental District
Number 14 by the common council of the city of Stevens
Point if the district is created before October 1, 2024.