SB70: Bill Text

SB70,814,15 (f) Covenant as to the custody, collection, securing, investment, and payment of any revenues, assets, moneys, funds, or property with respect to which the authority may have any rights or interest.

SB70,814,18 (g) Covenant as to the purposes to which the proceeds from the sale of any bonds may be applied, and as to the pledge of such proceeds to secure the payment of the bonds.

SB70,814,21 (h) Covenant as to limitations on the issuance of any additional bonds, the terms upon which additional bonds may be issued and secured, and the refunding of outstanding bonds.

SB70,814,23 (i) Covenant as to the rank or priority of any bonds with respect to any lien or security.

SB70,815,2 (j) Covenant as to the procedure by which the terms of any contract with or for the benefit of the holders of bonds may be amended or abrogated, the amount of bonds, the holders of which must consent thereto, and the manner in which such consent may be given.

SB70,815,5 (k) Covenant as to the custody and safekeeping of any of its properties or investments, the insurance to be carried on the property or investments, and the use and disposition of insurance proceeds.

SB70,815,8 (L) Covenant as to the vesting in one or more trustees, within or outside the state, of those properties, rights, powers, and duties in trust as the authority determines.

SB70,815,11 (m) Covenant as to the appointing of, and providing for the duties and obligations of, one or more paying agent or other fiduciaries within or outside the state.

SB70,815,14 (n) Make all other covenants and do any act that may be necessary or convenient or desirable in order to secure its bonds or, in the absolute discretion of the authority, tend to make the bonds more marketable.

SB70,815,18 (o) Execute all instruments necessary or convenient in the exercise of the powers granted under this section or in the performance of covenants or duties, which may contain such covenants and provisions as a purchaser of the bonds of the authority may reasonably require.

SB70,816,5 (10) Refunding bonds. An authority may issue refunding bonds for the purpose of paying any of its bonds at or prior to maturity or upon acceleration or redemption. An authority may issue refunding bonds at such time prior to the maturity or redemption of the refunded bonds as the authority deems to be in the public interest. The refunding bonds may be issued in sufficient amounts to pay or provide the principal of the bonds being refunded, together with any redemption premium on the bonds, any interest accrued or to accrue to the date of payment of the bonds, the expenses of issue of the refunding bonds, the expenses of redeeming the bonds being refunded, and such reserves for debt service or other capital or current expenses from the proceeds of such refunding bonds as may be required by the resolution, trust indenture, or other security instruments. To the extent applicable, refunding bonds are subject to subs. (8) and (9).

SB70,816,7 (11) Bonds eligible for investment. (a) Any of the following may invest funds, including capital in their control or belonging to them, in bonds of the authority:

SB70,816,8 1. Public officers and agencies of the state.

SB70,816,9 2. Local governmental units, as defined in s. 19.42 (7u).

SB70,816,10 3. Insurance companies.

SB70,816,11 4. Trust companies.

SB70,816,12 5. Banks.

SB70,816,13 6. Savings banks.

SB70,816,14 7. Savings and loan associations.

SB70,816,15 8. Investment companies.

SB70,816,16 9. Personal representatives.

SB70,816,17 10. Trustees.

SB70,816,18 11. Other fiduciaries not listed in this paragraph.

SB70,816,22 (b) The authority's bonds are securities that may be deposited with and received by any officer or agency of the state or any local governmental unit, as defined in s. 19.42 (7u), for any purpose for which the deposit of bonds or obligations of the state or any local governmental unit is authorized by law.

SB70,817,5 (12) Budgets; rates and charges; audit. The board of directors of an authority shall annually prepare a budget for the authority. Rates and other charges received by the authority shall be used only for the general expenses and capital expenditures of the authority, to pay interest, amortization, and retirement charges on bonds, and for specific purposes of the authority and may not be transferred to any political subdivision. The authority shall maintain an accounting system in accordance with generally accepted accounting principles and shall have its financial statements and debt covenants audited annually by an independent certified public accountant.

SB70,817,8 (13) Withdrawal from authority. (a) A participating political subdivision that joined an authority under sub. (2) (a) 1., 2., 4., or 5., (b) 3., (c) 2., or (f) 2. may withdraw from an authority if all of the following conditions are met:

SB70,817,10 1. The governing body of the political subdivision adopts a resolution requesting withdrawal of the political subdivision from the authority.

SB70,817,12 2. The political subdivision has paid, or made provision for the payment of, all obligations of the political subdivision to the authority.

SB70,817,15 (b) A municipality that becomes a member of an authority under sub. (2) (a) 3. shall withdraw from the authority if the county in which the municipality is located withdraws from the authority under par. (a).

SB70,817,17 (14) Duty to provide transit service. An authority shall provide, or contract for the provision of, transit service within the authority's jurisdictional area.

SB70,817,20 (15) Additional funding for southeast regional transit authority. In addition to any other funding authorized under this section, an authority created under sub. (2) (a) may impose the fees under subch. XIII of ch. 77.

SB70,818,2 (16) Required application of the southeast regional transit authority. No later than one year after its creation under sub. (2) (a) 1., the southeast regional transit authority shall submit to the federal transit administration in the U.S. department of transportation an application to enter the preliminary engineering phase of the federal new starts grant program for the Kenosha-Racine-Milwaukee commuter rail link.

SB70,818,7 (17) Other statutes. This section does not limit the powers of political subdivisions to enter into intergovernmental cooperation or contracts or to establish separate legal entities under s. 66.0301 or 66.1021 or any other applicable law, or otherwise to carry out their powers under applicable statutory provisions. Section 66.0803 (2) does not apply to an authority.

SB70,1232 Section 1232 . 66.1105 (2) (ab) of the statutes is renumbered 66.1105 (2) (n) (intro.) and amended to read:

SB70,818,15 66.1105 (2) (n) (intro.) “Affordable Workforce housing" means housing that costs a household no more than 30 percent of the household's gross monthly income. to which all of the following apply, as adjusted for family size and the county in which the household is located, based on the county's 5-year average median income and housing costs as calculated by the U.S. bureau of the census in its American community survey:

SB70,1233 Section 1233 . 66.1105 (2) (cm) of the statutes is renumbered 66.1105 (2) (cm) (intro.) and amended to read:

SB70,818,21 66.1105 (2) (cm) (intro.) “Mixed-use development" means development that contains a combination of industrial, commercial, or residential uses, except that lands proposed for newly platted residential use, as shown in the project plan, may not exceed 35 either of the following:

SB70,818,22 1. Thirty-five percent, by area, of the real property within the district.

SB70,1234 Section 1234 . 66.1105 (2) (cm) 2. of the statutes is created to read:

SB70,819,3 66.1105 (2) (cm) 2. Sixty percent, by area, of the real property within the district if the newly platted residential use that exceeds 35 percent is used solely for workforce housing.

SB70,1235 Section 1235. 66.1105 (2) (d) of the statutes is repealed.

SB70,1236 Section 1236. 66.1105 (2) (f) 1. c. of the statutes is amended to read:

SB70,819,8 66.1105 (2) (f) 1. c. Real property assembly costs, meaning any deficit incurred resulting from the sale or lease as lessor by the city of real or personal property within a tax incremental district for consideration which is less than its cost to the city.

SB70,1237 Section 1237 . 66.1105 (2) (n) 1. of the statutes is created to read:

SB70,819,11 66.1105 (2) (n) 1. The housing costs a household no more than 30 percent of the household's gross median income.

SB70,1238 Section 1238 . 66.1105 (2) (n) 2. of the statutes is created to read:

SB70,819,15 66.1105 (2) (n) 2. The residential units of the housing are for initial occupancy by individuals whose household median income is no more than 120 percent of the county's gross median income.

SB70,1239 Section 1239 . 66.1105 (4) (f) of the statutes is amended to read:

SB70,820,12 66.1105 (4) (f) Adoption by the planning commission of a project plan for each tax incremental district and submission of the plan to the local legislative body. The plan shall include a statement listing the kind, number and location of all proposed public works or improvements within the district or, to the extent provided in sub. (2) (f) 1. k. and 1. n., outside the district, an economic feasibility study, a detailed list of estimated project costs, and a description of the methods of financing all estimated project costs and the time when the related costs or monetary obligations are to be incurred. The project plan shall also contain alternative projections of the district's finances and economic feasibility under different economic scenarios, including the scenario in which work on a public work or improvement specified in the project plan begins 3 years later than expected and the scenario in which the rate of property value growth in the district is at least 10 percent lower than expected. The plan shall also include a map showing existing uses and conditions of real property in the district; a map showing proposed improvements and uses in the district; proposed changes of zoning ordinances, master plan, if any, map, building codes and city ordinances; a list of estimated nonproject costs; and a statement of the proposed method for the relocation of any persons to be displaced. The plan shall indicate how creation of the tax incremental district promotes the orderly development of the city. The city shall include in the plan an opinion of the city attorney or of an attorney retained by the city advising whether the plan is complete and complies with this section.

SB70,1240 Section 1240. 66.1105 (4) (gm) 4. c. of the statutes is amended to read:

SB70,821,2 66.1105 (4) (gm) 4. c. Except as provided in subs. (10) (c), (16) (d), (17), (18) (c) 3., (20) (b), and (20m) (d) 1., the equalized value of taxable property of the district plus the value increment of all existing districts does not exceed 12 percent of the total equalized value of taxable property within the city or that sub. (17) (g) applies. In determining the equalized value of taxable property under this subd. 4. c. or sub. (17) (c), the department of revenue shall base its calculations on the most recent equalized value of taxable property of the district that is reported under s. 70.57 (1m) before the date on which the resolution under this paragraph is adopted. If the department of revenue determines that a local legislative body exceeds the 12 percent limit described in this subd. 4. c. or sub. (17) (c) or that sub. (17) (g) does not apply, the department shall notify the city of its noncompliance, in writing, not later than December 31 of the year in which the department receives the completed application or amendment forms described in sub. (5) (b).

SB70,1241 Section 1241 . 66.1105 (4m) (b) 2. of the statutes is amended to read:

SB70,821,21 66.1105 (4m) (b) 2. No tax incremental district may be created and no project plan may be amended unless the board approves the resolution adopted under sub. (4) (gm) or (h) 1., and no tax incremental base may be redetermined under sub. (5) (h) unless the board approves the resolution adopted under sub. (5) (h) 1., by a majority vote within 45 days after receiving the resolution. For actions described under this subdivision, a majority vote is required, and, except for a multijurisdictional tax incremental district, 3 affirmative votes are required to constitute a majority. With regard to a multijurisdictional tax incremental district created under this section, each public member of a participating city must be part of the majority that votes for approval of the resolution or the district may not be created. The board may not approve the resolution under this subdivision unless the board's approval contains a positive assertion that, in its judgment, the development described in the documents the board has reviewed under subd. 1. would not occur without the creation of a tax incremental district. The board may not approve the resolution under this subdivision unless the board finds that, with regard to a tax incremental district that is proposed to be created by a city under sub. (17) (a), such a district would be the only existing district created under that subsection by that city.

SB70,1242 Section 1242. 66.1105 (5) (j) of the statutes is created to read:

SB70,822,4 66.1105 (5) (j) Upon receiving a written application from the city clerk, in a form prescribed by the department of revenue, the department shall recalculate the base value of a tax incremental district affected by 2023 Wisconsin Act .... (this act) to remove the value of the personal property. An application received under this paragraph no later than October 31 is effective in the year following the year in which the application is made. An application received after October 31 is effective in the 2nd year following the year in which the application is made.

SB70,1243 Section 1243. 66.1105 (6) (g) 1. (intro.) of the statutes is amended to read:

SB70,822,10 66.1105 (6) (g) 1. (intro.) After Subject to subd. 1m., after the date on which a tax incremental district created by a city pays off the aggregate of all of its project costs, and notwithstanding the time at which such a district would otherwise be required to terminate under sub. (7), a city may extend the life of the district for one year 3 years if the city does all of the following:

SB70,1244 Section 1244 . 66.1105 (6) (g) 1. a. of the statutes is amended to read:

SB70,822,15 66.1105 (6) (g) 1. a. The city adopts a resolution extending the life of the district for a specified number of months. The resolution shall specify how the city intends to improve its housing stock or increase the number of affordable and workforce housing stock units, as required in subd. 3.

SB70,1245 Section 1245. 66.1105 (6) (g) 1. b. of the statutes is amended to read:

SB70,822,20 66.1105 (6) (g) 1. b. The city forwards a copy of the resolution under subd. 1. a. and, if the extension is for more than one year, a copy of the resolution under subd. 1m., to the department of revenue, notifying the department that it must continue to authorize the allocation of tax increments to the district under par. (a).

SB70,1246 Section 1246. 66.1105 (6) (g) 1m. of the statutes is created to read:

SB70,822,24 66.1105 (6) (g) 1m. An extension under subd. 1. may not be for more than one year unless the joint review board approves, by resolution, the extension under subd. 1.

SB70,1247 Section 1247 . 66.1105 (6) (g) 3. of the statutes is amended to read:

SB70,823,7 66.1105 (6) (g) 3. If a city receives tax increments as described in subd. 2., the city shall use at least 75 percent of the increments received that are not supporting housing stock improvements to benefit affordable housing in the city. The remaining portion of the increments shall be used by the city to improve the city's increase the number of the city's affordable and workforce housing stock units, with at least 50 percent of the funds supporting units for families with incomes of up to 60 percent of the county's median household income.

SB70,1248 Section 1248. 66.1105 (17) (g) of the statutes is created to read:

SB70,823,13 66.1105 (17) (g) Forthcoming termination. If a city certifies all of the following to the department of revenue, the department may certify the tax incremental base under sub. (5) (d) notwithstanding the equalized value of taxable property of the district plus the value increment of all existing districts exceeding 12 percent of the total equalized value of taxable property within the city:

SB70,823,16 1. That, not later than one year after the certification under the paragraph, districts having sufficient value increments will terminate so that the municipality will no longer exceed the 12 percent limit described under sub. (4) (gm) 4. c.

SB70,823,18 2. That the municipality will not take any action that would extend the life of any district whose termination is necessary to satisfy subd. 1.

SB70,1249 Section 1249. 66.1106 (1) (k) of the statutes is amended to read:

SB70,823,21 66.1106 (1) (k) “Taxable property" means all real and personal taxable property located in an environmental remediation tax incremental district.

SB70,1250 Section 1250. 66.1106 (4) (e) of the statutes is created to read:

SB70,824,5 66.1106 (4) (e) Upon receiving a written application from the clerk of a political subdivision, in a form prescribed by the department, the department shall recalculate the base value of a tax incremental district affected by 2023 Wisconsin Act .... (this act) to remove the value of the personal property, as defined in s. 66.1105. An application received under this paragraph no later than October 31 is effective in the year following the year in which the application is made. An application received after October 31 is effective in the 2nd year following the year in which the application is made.

SB70,1251 Section 1251. 66.1113 (2) (a) of the statutes is amended to read:

SB70,824,12 66.1113 (2) (a) The governing body of a political subdivision, by a two-thirds vote of the members of the governing body who are present when the vote is taken, may enact an ordinance or adopt a resolution declaring itself to be a premier resort area if, except as provided in pars. (e), (f), (g), (h), (i), and (j), (k), and (L), at least 40 percent of the equalized assessed value of the taxable property within such political subdivision is used by tourism-related retailers.

SB70,1252 Section 1252. 66.1113 (2) (b) of the statutes is amended to read:

SB70,824,15 66.1113 (2) (b) Subject to pars. (g), (h), (i), and (j), (k), and (L), a political subdivision that is a premier resort area may impose the tax under s. 77.994.

SB70,1253 Section 1253. 66.1113 (2) (k) of the statutes is created to read:

SB70,824,25 66.1113 (2) (k) The city of Prescott may enact an ordinance or adopt a resolution declaring itself to be a premier resort area under par. (a) even if less than 40 percent of the equalized assessed value of the taxable property within the city is used by tourism-related retailers. The city may not impose the tax authorized under par. (b) unless the common council adopts a resolution proclaiming its intent to impose the tax and the resolution is approved by a majority of the electors in the city voting on the resolution at a referendum, to be held at the first spring primary or election or partisan primary or general election following by at least 70 days the date of adoption of the resolution.

SB70,1254 Section 1254. 66.1113 (2) (L) of the statutes is created to read:

SB70,825,10 66.1113 (2) (L) The village of Pepin in Pepin County may enact an ordinance or adopt a resolution declaring itself to be a premier resort area under par. (a) even if less than 40 percent of the equalized assessed value of the taxable property within the village is used by tourism-related retailers. The village may not impose the tax authorized under par. (b) unless the village board adopts a resolution proclaiming its intent to impose the tax and the resolution is approved by a majority of the electors in the village voting on the resolution at a referendum, to be held at the first spring primary or election or partisan primary or general election following by at least 70 days the date of adoption of the resolution.

SB70,1255 Section 1255 . 66.1201 (2m) of the statutes is amended to read:

SB70,825,17 66.1201 (2m) Discrimination. Persons otherwise entitled to any right, benefit, facility, or privilege under ss. 66.1201 to 66.1211 may not be denied the right, benefit, facility, or privilege in any manner for any purpose nor be discriminated against because of sex, race, color, creed, national origin, sexual orientation, status as a victim of domestic abuse, sexual assault, or stalking, as defined in s. 106.50 (1m) (u), or national origin status as a holder or nonholder of a license under s. 343.03 (3r).

SB70,1256 Section 1256 . 66.1213 (3) of the statutes is amended to read:

SB70,825,24 66.1213 (3) Discrimination. Persons otherwise entitled to any right, benefit, facility, or privilege under this section may not be denied the right, benefit, facility, or privilege in any manner for any purpose nor be discriminated against because of sex, race, color, creed, national origin, sexual orientation, status as a victim of domestic abuse, sexual assault, or stalking, as defined in s. 106.50 (1m) (u), or national origin status as a holder or nonholder of a license under s. 343.03 (3r).

SB70,1257 Section 1257 . 66.1301 (2m) of the statutes is amended to read:

SB70,826,6 66.1301 (2m) Discrimination. Persons entitled to any right, benefit, facility, or privilege under ss. 66.1301 to 66.1329 may not be denied the right, benefit, facility, or privilege in any manner for any purpose nor be discriminated against because of sex, race, color, creed, national origin, sexual orientation, status as a victim of domestic abuse, sexual assault, or stalking, as defined in s. 106.50 (1m) (u), or national origin status as a holder or nonholder of a license under s. 343.03 (3r).

SB70,1258 Section 1258 . 66.1333 (3) (e) 2. of the statutes is amended to read:

SB70,826,13 66.1333 (3) (e) 2. Persons otherwise entitled to any right, benefit, facility, or privilege under this section may not be denied the right, benefit, facility, or privilege in any manner for any purpose nor be discriminated against because of sex, race, color, creed, national origin, sexual orientation, status as a victim of domestic abuse, sexual assault, or stalking, as defined in s. 106.50 (1m) (u), or national origin status as a holder or nonholder of a license under s. 343.03 (3r).