2019 - 2020 LEGISLATURE
June 6, 2019 - Introduced by Senator Testin, cosponsored by Representative
Oldenburg. Referred to Committee on Economic Development, Commerce
1An Act to create
66.1105 (17) (g) of the statutes; relating to: changing the 12
2percent rule regarding the total value of taxable property included in the
3creation of a tax incremental financing district in the village of Ontario.
Analysis by the Legislative Reference Bureau
With regard to the village of Ontario, this bill changes the rule that the
equalized value of taxable property of a new or amended tax incremental district
(TID) plus the value increment of all existing TIDs does not exceed 12 percent of the
total equalized value of taxable property in the city or village. Under the bill, the 12
percent rule does not apply to the village of Ontario, with regard to the creation of
TID Number 2 by the village. Upon the termination of that TID, the limit will return
to 12 percent.
For further information see the 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:
66.1105 (17) (g) of the statutes is created to read:
(g) Village of Ontario exception.
The 12 percent limit described 6
under sub. (4) (gm) 4. c. does not apply with regard to Tax Incremental District
Number 2 that is created by the village board of the village of Ontario, except that 2
this paragraph does not apply upon the termination of that district.