LRB-0973/1
MES:jld&amn
2017 - 2018 LEGISLATURE
January 10, 2017 - Introduced by Representatives Katsma, Macco and R. Brooks,
cosponsored by Senator LeMahieu. Referred to Committee on Ways and
Means.
AB1,1,4
1An Act to create 66.1105 (17) (f) of the statutes;
relating to: changing the 12
2percent rule regarding the total value of taxable property included in the
3creation of, or amendment to, a tax incremental financing district in the village
4of Oostburg.
Analysis by the Legislative Reference Bureau
With regard to the village of Oostburg, 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 becomes a 15 percent rule for the village of Oostburg, with regard to the
creation of TID Number 3 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:
AB1,1
5Section
1. 66.1105 (17) (f) of the statutes is created to read:
AB1,2,8
166.1105
(17) (f)
Village of Oostburg exception. The 12 percent limit described
2under sub. (4) (gm) 4. c. shall be 15 percent with regard to Tax Incremental District
3Number 3 that is created by the village board of the village of Oostburg, except that
4this paragraph does not apply upon the termination of that district. The tax
5incremental base of that district shall be calculated by the department of revenue as
6if the forms and application had been filed on or before October 31, 2016,
7notwithstanding the time when the village clerk actually filed the forms and
8application and notwithstanding the time limits in sub. (5) (b).
