Date of enactment: June 6, 2005
2005 Senate Bill 124 Date of publication*: June 20, 2005
* Section 991.11, Wisconsin Statutes 2003-04 : 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 as designated" by the secretary of state [the date of publication may not be more than 10 working days after the date of enactment].
An Act to create 60.23 (32) and 66.1105 (16) of the statutes; relating to: authorizing a town that has entered into a cooperative boundary agreement to use tax incremental financing.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
13,1 Section 1. 60.23 (32) of the statutes is created to read:
60.23 (32) Town tax increment powers. Subject to s. 66.1105 (16), exercise all powers of cities under s. 66.1105. If the town board exercises the powers of a city under s. 66.1105, it is subject to the same duties as a common council under s. 66.1105 and the town is subject to the same duties and liabilities as a city under s. 66.1105.
13,2 Section 2. 66.1105 (16) of the statutes is created to read:
66.1105 (16) Tax incremental districts in towns. (a) A town may create a tax incremental district under this section if all of the following apply:
1. The town enters into a cooperative plan with a city or village, under s. 66.0307, under which part or all of the town will be annexed by the city or village in the future.
2. The city or village into which the town territory will be annexed adopts a resolution approving the creation of the tax incremental district.
3. The tax incremental district is located solely within territory that is to be annexed by a city or village as described under subd. 1.
(b) Along with the application that is filed under sub. (5) (b), a town shall include a copy of the cooperative plan to which it is a party.