Amendment AA1-AB437

LRBa1026/1

MES:jld:rs

2003 - 2004 LEGISLATURE

ASSEMBLY AMENDMENT 1, TO 2003 ASSEMBLY BILL 437

October 29, 2003 - Offered by Committee on Rural Development.

AB437-AA1,1,1 At the locations indicated, amend the bill as follows:

AB437-AA1,1,2 1. Page 3, line 4: after that line insert:

AB437-AA1,1,3 " Section 1j. 66.1105 (2) (f) 3. of the statutes is amended to read:

AB437-AA1,1,8 66.1105 (2) (f) 3. Notwithstanding subd. 1. and except as provided in s. 60.23 (32) (b), project costs may not include any expenditures made or estimated to be made or monetary obligations incurred or estimated to be incurred by the city for newly platted residential development for any tax incremental district for which a project plan is approved after September 30, 1995.

AB437-AA1, s. 1p Section 1p. 66.1105 (5) (cg) of the statutes is created to read:

AB437-AA1,2,7 66.1105 (5) (cg) If a city annexes town territory that contains part of a district that is created under s. 60.23 (32), the tax incremental base of the district shall be redetermined, by subtracting from the tax incremental base the value of the taxable property that is annexed from the existing district, as of the January 1 next preceding the effective date of the annexation if the annexation becomes effective between January 2 and September 30, as of the next subsequent January 1 if the annexation becomes effective between October 1 and December 31 and if the effective date of the annexation is January 1 of any year, the redetermination shall be made on that date. The tax incremental base as redetermined under this paragraph is effective for the purposes of this section only if it less than the original tax incremental base determined under par. (b).

AB437-AA1, s. 1t Section 1t. 66.1105 (12) of the statutes is created to read:

AB437-AA1,2,13 66.1105 (12) Treatment of town districts, annexation. (a) If a city annexes town territory that contains part of a tax incremental district that is created under s. 60.23 (32), the city and the town shall negotiate an agreement under which the city agrees to reimburse the town for the district-related costs for which the town is liable and which would have been paid for by tax increments allocated under sub. (6).

AB437-AA1,2,18 (b) If a city annexes town territory that contains an entire tax incremental district that is created under s. 60.23 (32), the town shall dissolve the district and the city and town shall negotiate an agreement under which the city agrees to assume liability for all or part of the district's outstanding project costs or other liabilities that are related to the district.".

AB437-AA1,2,19 2. Page 3, line 23: after that line insert:

AB437-AA1,2,20 " Section 3m. Effective date.

AB437-AA1,2,21 (1) This act takes effect on October 1, 2003.".

AB437-AA1,2,22 (End)