SB417: Bill Text

LRB-3884/1

MES:jld:jf

2007 - 2008 LEGISLATURE

2007 Senate BILL 417

January 25, 2008 - Introduced by Senator Wirch, cosponsored by Representatives Steinbrink, Kerkman and Kreuser. Referred to Committee on Tax Fairness and Family Prosperity.

SB417,1,4 An Act to amend 66.1105 (4) (h) 2.; and to create 66.1105 (4) (h) 8. of the statutes; relating to: increasing the allowable number of project plan amendments for tax incremental district number 2 in the village of Pleasant Prairie.

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, or amend its project plan, 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, or amendment, for the TID, approval of the proposed project plan or amendment by the joint review board and 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.

Generally under current law a local planning commission may amend the project plan of a TID, by adding or subtracting territory from the district, not more than four times during the TID's existence.

Under this bill, with regard to TID number 2 in the village of Pleasant Prairie, the local planning commission may amend the project plan of the TID not more than six times.

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:

SB417, s. 1 Section 1. 66.1105 (4) (h) 2. of the statutes is amended to read:

SB417,2,10 66.1105 (4) (h) 2. Except as provided in subds. 4., 5., and 7., and 8., the planning commission may adopt an amendment to a project plan under subd. 1. to modify the district's boundaries, not more than 4 times during the district's existence, by subtracting territory from the district in a way that does not remove contiguity from the district or by adding territory to the district that is contiguous to the district and that is served by public works or improvements that were created as part of the district's project plan. A single amendment to a project plan that both adds and subtracts territory shall be counted under this subdivision as one amendment of a project plan.

SB417, s. 2 Section 2. 66.1105 (4) (h) 8. of the statutes is created to read:

SB417,2,15 66.1105 (4) (h) 8. Notwithstanding the limitation in subd. 2., the planning commission in the village of Pleasant Prairie may adopt an amendment to a project plan under subd. 1. to modify the boundaries of tax incremental district number 2 not more than 6 times during the district's existence.

SB417,2,16 (End)