LRB-4871/1
MES:wlj:rs
2005 - 2006 LEGISLATURE
March 31, 2006 - Introduced by Senator A. Lasee, cosponsored by Representative
Ott. Referred to Committee on Housing and Financial Institutions.
SB677,1,3
1An Act to create 66.1105 (5) (bk) of the statutes;
relating to: the failure to
2publish certain notices relating to the creation, or attempted creation, of a tax
3incremental financing district in the village of Kimberly.
Analysis by the Legislative Reference Bureau
Under the current tax incremental financing program, a city or village may
create a tax incremental district (TID) in part of its territory to foster development
if at least 50 percent of the area to be included in the TID is blighted, in need of
rehabilitation or conservation, suitable for industrial sites, or suitable for mixed-use
development. Before a city or village may create a TID, several steps and plans are
required. These steps and plans include public hearings on the proposed TID within
specified time frames, preparation and adoption by the local planning commission
of a proposed project plan for the TID, approval of the proposed project plan by the
common council or village board, and adoption of a resolution by the common council
or village board that creates the TID as of a date provided in the resolution. Current
law also requires that notices for the required public hearings must be published in
the newspaper in advance of the hearings.
Once these steps are accomplished, the city or village clerk is required to
complete certain forms and an application and submit the documents to the
Department of Revenue (DOR) on or before December 31 of the year in which the TID
is created. Upon receipt of the application, DOR is required to certify the full
aggregate value of the taxable property in the city, which constitutes the tax
incremental base of the TID.
This bill specifies that if the village of Kimberly created or attempted to create
a TID on January 1, 2005, based on a resolution adopted in April 2005, but did not
actually publish the required public notices before the required public hearings were
held, DOR must proceed as if the TID was created on January 1, 2005, if the village
was in substantial compliance with other specified statutory requirements.
For further information see the state and 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:
SB677, s. 1
1Section
1. 66.1105 (5) (bk) of the statutes is created to read:
SB677,2,102
66.1105
(5) (bk) Notwithstanding the requirements in sub. (4) (a), (c), and (e),
3if the village of Kimberly created, or attempted to create, a tax incremental district
4on January 1, 2005, based on a resolution described under sub. (4) (gm) 2. that was
5adopted in April 2005, and attempted to publish, but did not actually publish, the
6notices required under sub. (4) (a), (c), and (e), but was otherwise in substantial
7compliance as specified in sub. (15), the department of revenue shall determine the
8tax incremental base of the district, allocate tax increments, and treat the district
9in all other respects as if the requirements under sub. (4) (a), (c), and (e) had been
10strictly complied with and as if the district was created on January 1, 2005.
