66.46(5)(b)
(b) Upon application in writing by the city clerk, in such form as the department of revenue may prescribe, the department shall determine according to its best judgment from all sources available to it the full aggregate value of the taxable property and, except as provided in
par. (bm), of the city-owned property in the tax incremental district. The department shall certify this aggregate valuation to the city clerk, and the aggregate valuation shall constitute the tax incremental base of the tax incremental district. The city clerk shall complete these forms and submit the application on or before December 31 of the year the tax incremental district is created, as defined in
sub. (4) (gm) 2.
66.46(5)(be)
(be) Notwithstanding the time limits in
par. (b), if the city clerk of a city that created a tax incremental district in September 1994 files with the department of revenue, not later than March 30, 1996, the forms and application that were originally due on or before December 31, 1994, the tax incremental base of the district shall be calculated by the department of revenue as if the forms and application had been filed on or before December 31, 1994, and, until the tax incremental district terminates, the department of revenue shall allocate tax increments and treat the district in all other respects as if the forms and application had been filed on or before December 31, 1994, except that the department may not certify a value increment under
par. (b) before 1996.
66.46(5)(bm)
(bm) The value of real property owned by a city and used for police and fire buildings, administrative buildings, libraries, community and recreational buildings, parks, streets and improvements within any street right-of-way, parking facilities and utilities shall not be included in the tax incremental base established under
par. (b).
66.46(5)(c)
(c) If the city adopts an amendment to the original project plan for any district which includes additional project costs at least part of which will be incurred after the period specified in
sub. (6) (am) 1., the tax incremental base for the district shall be redetermined, if
sub. (4) (h) 2. or
3. applies to the amended project plan, by adding to the tax incremental base the value of the taxable property that is added to the existing district under
sub. (4) (h) 2. or
3. or, if
sub. (4) (h) 2. or
3. does not apply to the amended project plan, under
par. (b), as of the January 1 next preceding the effective date of the amendment if the amendment becomes effective between January 2 and September 30, as of the next subsequent January 1 if the amendment becomes effective between October 1 and December 31 and if the effective date of the amendment 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 exceeds the original tax incremental base determined under
par. (b).
66.46(5)(ce)
(ce) If the city adopts an amendment, to which
sub. (4) (h) 2. or
3. applies, the tax incremental base for the district shall be redetermined, by adding to the tax incremental base the value of the taxable property that is added to the existing district under
sub. (4) (h) 2. or
3., as of the January 1 next preceding the effective date of the amendment if the amendment becomes effective between January 2 and September 30, as of the next subsequent January 1 if the amendment becomes effective between October 1 and December 31 and if the effective date of the amendment 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 exceeds the original tax incremental base determined under
par. (b).
66.46(5)(cm)
(cm) The city clerk shall annually, after May 1 but before May 21, by written notice, inform the department of revenue of any amendment to the project plan which has been adopted. The city clerk shall also give written notice of the adoption of an amendment to the department of revenue within 60 days after its adoption. The department of revenue may prescribe forms to be used by the city clerk when giving notice as required by this paragraph.
66.46(5)(d)
(d) The department of revenue shall not certify the tax incremental base as provided in
par. (b) until it determines that each of the procedures and documents required by
sub. (4) (a),
(b),
(gm) or
(h) and
par. (b) has been timely completed and all notices required under
sub. (4) (a),
(b),
(gm) or
(h) timely given. The facts supporting any document adopted or action taken to comply with
sub. (4) (a),
(b),
(gm) or
(h) shall not be subject to review by the department of revenue under this paragraph.
66.46(5)(e)
(e) It is a rebuttable presumption that any property within a tax incremental district acquired or leased as lessee by the city, or any agency or instrumentality thereof, within the one year immediately preceding the date of the creation of such district was so acquired or leased in contemplation of the creation of such district. Such presumption may be rebutted by the city with proof that such property was so leased or acquired primarily for a purpose other than to reduce the tax incremental base. If such presumption is not rebutted, in determining the tax incremental base of such district, but for no other purpose, the taxable status of such property shall be determined as though such lease or acquisition had not occurred.
66.46(5)(f)
(f) The city assessor shall identify upon the assessment roll returned and examined under
s. 70.45 those parcels of property which are within each existing tax incremental district, specifying thereon the name of each district. A similar notation shall also appear on the tax roll made by the city clerk under
s. 70.65.
66.46(5)(g)
(g) The department of revenue shall annually give notice to the designated finance officer of all governmental entities having the power to levy taxes on property within each district as to the equalized value of such property and the equalized value of the tax increment base. Such notice shall also explain that the tax increment allocated to a city shall be paid to the city as provided under
sub. (6) (b) from the taxes collected.
66.46(6)
(6) Allocation of positive tax increments. 66.46(6)(a)(a) If the joint review board approves the creation of the tax incremental district under
sub. (4m), positive tax increments with respect to a tax incremental district are allocated to the city which created the district for each year commencing after the date when a project plan is adopted under
sub. (4) (g). The department of revenue shall not authorize allocation of tax increments until it determines from timely evidence submitted by the city that each of the procedures and documents required under
sub. (4) (d) to
(f) have been completed and all related notices given in a timely manner. The department of revenue may authorize allocation of tax increments for any tax incremental district only if the city clerk and assessor annually submit to the department all required information on or before the 2nd Monday in June. The facts supporting any document adopted or action taken to comply with
sub. (4) (d) to
(f) shall not be subject to review by the department of revenue under this paragraph. Thereafter, the department of revenue shall annually authorize allocation of the tax increment to the city that created such a district until the department of revenue receives a notice under
sub. (8) and the notice has taken effect under
sub. (8) (b), 27 years after the tax incremental district is created if the district is created before October 1, 1995, 38 years after the tax incremental district is created if the district is created before October 1, 1995, and the project plan is amended under
sub. (4) (h) 3. or 23 years after the tax incremental district is created if the district is created after September 30, 1995, whichever is sooner.
66.46(6)(am)1.1. For a tax incremental district that is created after September 30, 1995, no expenditure may be made later than 7 years after the tax incremental district is created, and for a tax incremental district that is created before October 1, 1995, no expenditure may be made later than 10 years after the tax incremental district is created, except that, for a tax incremental district that is created before October 1, 1995, and which receives tax increments under
par. (d), no expenditure may be made later than 12 years after the tax incremental district is created.
66.46(6)(am)2.
2. The limitations on the period during which expenditures may be made under
subd. 1. do not apply to:
66.46(6)(am)3.
3. For tax incremental districts for which the resolution under
sub. (4) (gm) is adopted on or after July 31, 1981, no expenditure may be made before the date the project plan is approved, except for costs directly related to planning the tax incremental district. In this subdivision "expenditure" means the exchange of money for the delivery of goods or services.
66.46(6)(am)4.
4. For purposes of this paragraph, the date of creation of a tax incremental district is:
66.46(6)(am)4.a.
a. The May 1 date set under s.
66.46 (4) (c) 2., 1975 stats., if the local legislative body adopts a resolution to create the tax incremental district on or before May 1, 1978.
66.46(6)(am)4.b.
b. The January 1 date set under
sub. (4) (gm) 2., if the local legislative body adopts a resolution to create the tax incremental district after May 1, 1978, and prior to July 31, 1981.
66.46(6)(am)4.c.
c. The date the local legislative body adopts the resolution under
sub. (4) (gm), if the local legislative body adopts a resolution to create the tax incremental district on or after July 31, 1981.
66.46(6)(b)
(b) Notwithstanding any other provision of law, every officer charged by law to collect and pay over or retain local general property taxes shall, on the settlement dates provided by law, pay over to the city treasurer out of all the taxes which the officer has collected the proportion of the tax increment due the city that the general property taxes collected in the city bears to the total general property taxes levied by the city for all purposes included in the tax roll, exclusive of levies for state trust fund loans, state taxes and state special charges.
66.46(6)(c)
(c) Except for tax increments allocated under
par. (d),
(dm) or
(e), all tax increments received with respect to a tax incremental district shall, upon receipt by the city treasurer, be deposited into a special fund for that district. The city treasurer may deposit additional moneys into such fund pursuant to an appropriation by the common council. No moneys may be paid out of such fund except to pay project costs with respect to that district, to reimburse the city for such payments, to pay project costs of a district under
par. (d),
(dm) or
(e) or to satisfy claims of holders of bonds or notes issued with respect to such district. Subject to
par. (d),
(dm) or
(e), moneys paid out of the fund to pay project costs with respect to a district may be paid out before or after the district is terminated under
sub. (7). Subject to any agreement with bondholders, moneys in the fund may be temporarily invested in the same manner as other city funds if any investment earnings are applied to reduce project costs. After all project costs and all bonds and notes with respect to the district have been paid or the payment thereof provided for, subject to any agreement with bondholders, if there remain in the fund any moneys that are not allocated under
par. (d),
(dm) or
(e), they shall be paid over to the treasurer of each county, school district or other tax levying municipality or to the general fund of the city in the amounts that belong to each respectively, having due regard for that portion of the moneys, if any, that represents tax increments not allocated to the city and that portion, if any, that represents voluntary deposits of the city into the fund.
66.46(6)(d)1.1. After the date on which a tax incremental district pays off the aggregate of all of its project costs under its project plan, but not later than the date on which a tax incremental district terminates under
sub. (7) (am), a planning commission may amend under
sub. (4) (h) 1. the project plan of such a tax incremental district to allocate positive tax increments generated by that tax incremental district to another tax incremental district created by that planning commission in which soil affected by environmental pollution exists to the extent that development has not been able to proceed according to the project plan because of the environmental pollution.
66.46(6)(d)2.
2. Except as provided in
subd. 2m., no tax increments may be allocated under this paragraph later than 16 years after the last expenditure identified in the project plan of the tax incremental district, the positive tax increments of which are to be allocated, is made.
66.46(6)(d)2m.
2m. No tax increments may be allocated under this paragraph later than 30 years after the last expenditure identified in the project plan of the tax incremental district, the positive tax increments of which are to be allocated, is made if the district is created before October 1, 1995, except that in no case may the total number of years during which expenditures are made under
par. (am) 1. plus the total number of years during which tax increments are allocated under this paragraph exceed 37 years.
66.46(6)(d)3.
3. This paragraph applies only in a city with a population of at least 80,000 that was incorporated in 1850 and that is in a county with a population of less than 150,000 which is adjacent to one of the Great Lakes.
66.46(6)(d)4.
4. This paragraph does not apply after August 1, 2016.
66.46(6)(dm)1.1. After the date on which a tax incremental district that is located in a city that is described in
subd. 3. a. pays off the aggregate of all of its project costs under its project plan, but not later than the date on which a tax incremental district terminates under
sub. (7) (am), a planning commission may amend under
sub. (4) (h) 1. the project plan of such a tax incremental district to allocate positive tax increments generated by that tax incremental district to another tax incremental district created by that planning commission in which soil affected by environmental pollution exists to the extent that development has not been able to proceed according to the project plan because of the environmental pollution.
66.46(6)(dm)1m.
1m. Either before, after or on the date on which a tax incremental district that is located in a city that is described in
subd. 3. b. pays off the aggregate of all of its project costs under its project plan, but not later than the date on which a tax incremental district terminates under
sub. (7) (am), a planning commission may amend under
sub. (4) (h) 1. the project plan of such a tax incremental district to allocate positive tax increments generated by that tax incremental district to another tax incremental district created by that planning commission in which soil affected by environmental pollution exists to the extent that development has not been able to proceed according to the project plan because of the environmental pollution.
66.46(6)(dm)2.
2. Except as provided in
subd. 2m., no tax increments may be allocated under this paragraph later than 16 years after the last expenditure identified in the project plan of the tax incremental district, the positive tax increments of which are to be allocated, is made.
66.46(6)(dm)2m.
2m. No tax increments may be allocated under this paragraph later than 20 years after the last expenditure identified in the project plan of the tax incremental district, the positive tax increments of which are to be allocated, is made if the district is created before October 1, 1995, except that in no case may the total number of years during which expenditures are made under
par. (am) 1. plus the total number of years during which tax increments are allocated under this paragraph exceed 27 years.
66.46(6)(dm)3.
3. This paragraph applies only to the following cities:
66.46(6)(dm)3.a.
a. A city with a population of at least 10,000 that was incorporated in 1950 and that is in a county with a population of more than 500,000 which is adjacent to one of the Great Lakes.
66.46(6)(dm)3.b.
b. A city with a population of at least 50,000 that was incorporated in 1853 and that is in a county which has a population of at least 140,000 and that contains a portion of the Fox River and Lake Winnebago.
66.46(6)(dm)4.
4. This paragraph, with regard to a city that is described in
subd. 3. a., does not apply after January 1, 2002.
66.46(6)(dm)5.
5. This paragraph, with regard to a city that is described in
subd. 3. b., does not apply after January 1, 2016.
66.46(6)(e)1.1. Before the date on which a tax incremental district terminates under
sub. (7) (a), but not later than the date on which a tax incremental district terminates under
sub. (7) (am), a planning commission may amend under
sub. (4) (h) the project plan of such a tax incremental district to allocate positive tax increments generated by that tax incremental district to another tax incremental district created by that planning commission if all of the following conditions are met:
66.46(6)(e)1.a.
a. The donor tax incremental district, the positive tax increments of which are to be allocated, and the recipient tax incremental district have the same overlying taxing jurisdictions.
66.46(6)(e)1.b.
b. The donor tax incremental district and the recipient tax incremental district have been created before October 1, 1995.
66.46(6)(e)2.
2. Each year, the city that created the tax incremental districts may determine the portion of the donor tax incremental district's positive tax increment that is in excess of the tax increment that is necessary to pay the donor's project costs in that year that shall be allocated to the recipient tax incremental district and shall inform the department of revenue of these amounts.
66.46(6)(e)3.
3. A project plan that is amended under
sub. (4) (h) to authorize the allocation of positive tax increments under
subd. 1. may authorize such an allocation for a period not to exceed 5 years, except that if the planning commission determines that the allocation may be needed for a period longer than 5 years, the planning commission may authorize such an allocation for up to an additional 5 years if the project plan is amended under
sub. (4) (h) during the 4th year of the allocation. In no case may positive tax increments under
subd. 1. be allocated from one donor tax incremental district for a period longer than 10 years.
66.46(6c)
(6c) Notification of position openings. 66.46(6c)(a)(a) Any person who operates for profit and is paid project costs under
sub. (2) (f) 1. a.,
d.,
j. and
k. in connection with the project plan for a tax incremental district shall notify the department of workforce development and the area private industry council under the job training partnership act,
29 USC 1501 to
1798, of any positions to be filled in the county in which the city which created the tax incremental district is located during the period commencing with the date the person first performs work on the project and ending one year after receipt of its final payment of project costs. The person shall provide this notice at least 2 weeks prior to advertising the position.
66.46(6c)(b)
(b) Any person who operates for profit and buys or leases property in a tax incremental district from a city for which the city incurs real property assembly costs under
sub. (2) (f) 1. c. shall notify the department of workforce development and the area private industry council under the job training partnership act,
29 USC 1501 to
1798, of any position to be filled in the county in which the city creating the tax incremental district is located within one year after the sale or commencement of the lease. The person shall provide this notice at least 2 weeks prior to advertising the position.
66.46(6m)(a)(a) The city shall cause a certified public accountant to conduct audits of each tax incremental district to determine if all financial transactions are made in a legal and proper manner and to determine if the tax incremental district is complying with its project plan and with this section. Any city that creates a tax incremental district under this section and has an annual general audit may include the audits required under this subsection as part of the annual general audit.
66.46(6m)(b)1.
1. Twelve months after 30% of the project expenditures are made;
66.46(6m)(b)3.
3. Twelve months after the termination of the tax incremental district under
sub. (7).
66.46(6m)(c)
(c) The city shall prepare and make available to the public updated annual reports describing the status of each existing tax incremental district, including expenditures and revenues. The city shall send a copy of the report to each overlying district by May 1 annually.
66.46(7)
(7) Termination of tax incremental districts. The existence of a tax incremental district shall terminate when the earlier of the following occurs:
66.46(7)(a)
(a) That time when the city has received aggregate tax increments with respect to such district in an amount equal to the aggregate of all project costs under the project plan and any amendments to the project plan for such district, except that this paragraph does not apply to a district whose positive tax increments have been allocated under
sub. (6) (d),
(dm) or
(e) until the district to which the allocation is made has paid off the aggregate of all of its project costs under its project plan.
66.46(7)(am)
(am) Sixteen years after the last expenditure identified in the project plan is made if the district to which the plan relates is created after September 30, 1995, or 20 years after the last expenditure identified in the project plan is made if the district to which the plan relates is created before October 1, 1995, except that in no case may the total number of years during which expenditures are made under
sub. (6) (am) 1. plus the total number of years during which tax increments are allocated under this paragraph exceed 27 years.
66.46(7)(ar)
(ar) Notwithstanding
par. (am), 22 years after the last expenditure identified in the project plan is made if the district to which the plan relates is created before October 1, 1995, and the project plan is amended under
sub. (4) (h) 3.
66.46(7)(b)
(b) The local legislative body, by resolution, dissolves the district at which time the city shall become liable for all unpaid project costs actually incurred which are not paid from the special fund under
sub. (6) (c), except this paragraph does not make the city liable for any tax incremental bonds or notes issued.
66.46(8)
(8) Notice of district termination. 66.46(8)(a)(a) A city which creates a tax incremental district under this section shall give the department of revenue written notice within 10 days of the termination of the tax incremental district under
sub. (7).
66.46(8)(b)
(b) If the department of revenue receives a notice under
par. (a) during the period from January 1 to May 15, the effective date of the notice is the date the notice is received. If the notice is received during the period from May 16 to December 31, the effective date of the notice is the first January 1 after the department of revenue receives the notice.
66.46(9)
(9) Financing of project costs. 66.46(9)(a)(a) Payment of project costs may be made by any one or more of the following methods or any combination thereof:
66.46(9)(a)1.
1. Payment by the city from the special fund of the tax incremental district;
66.46(9)(a)3.
3. Payment out of the proceeds of the sale of bonds or notes issued by it under
ch. 67;
66.46(9)(a)4.
4. Payment out of the proceeds of the sale of public improvement bonds issued by it under
s. 66.059;
66.46(9)(a)6.
6. Payment out of the proceeds of revenue bonds or notes issued by it under
s. 66.066;
66.46(9)(a)7.
7. Payment out of the proceeds of revenue bonds issued by it under
s. 66.51;
66.46(9)(a)8.
8. Payment out of the proceeds of the sale of tax incremental bonds or notes issued by it under this subsection; or
66.46(9)(a)9.
9. Payment out of the proceeds of revenue bonds issued by the city as provided by
s. 66.521, for a purpose specified in that section.
66.46(9)(b)1.1. For the purpose of paying project costs or of refunding municipal obligations issued under
ch. 67 or this subsection for the purpose of paying project costs, the local legislative body may issue tax incremental bonds or notes payable out of positive tax increments. Each bond or note and accompanying interest coupon, if any, is a negotiable instrument. The bonds and notes shall not be included in the computation of the constitutional debt limitation of the city. Bonds and notes issued under this subsection, together with their interest and income, shall be taxed in the same manner as are municipal obligations issued under
s. 67.04.
66.46(9)(b)2.
2. Tax incremental bonds or notes shall be authorized by resolution of the local legislative body without the necessity of a referendum or any elector approval, but such referendum or election may be held, through the procedures provided in
s. 66.521 (10) (d). Such resolution shall state the name of the tax incremental district, the amount of bonds or notes authorized, and the interest rate or rates to be borne by such bond or notes. Such resolution may prescribe the terms, form and content of such bonds or notes and such other matters as the local legislative body deems useful.
66.46(9)(b)3.
3. Tax incremental bonds or notes may not be issued in an amount exceeding the aggregate project costs. Such bonds or notes shall mature over a period not exceeding 23 years from the date thereof or a period terminating with the date of termination of the tax incremental district, whichever period terminates earlier. Such bonds or notes may contain a provision authorizing the redemption thereof, in whole or in part, at stipulated prices, at the option of the city, on any interest payment date and shall provide the method of selecting the bonds or notes to be redeemed. The principal and interest on such bonds and notes may be payable at any time and at any place. Such bonds or notes may be payable to bearer or may be registered as to the principal or principal and interest. Such bonds or notes may be in any denominations. Such bonds or notes may be sold at public or private sale. Insofar as they are consistent with this subsection, the provisions of
ch. 67 relating to procedures for issuance, form, contents, execution, negotiation, and registration of municipal bonds and notes are incorporated herein by reference.
66.46(9)(b)4.
4. Tax incremental bonds or notes are payable only out of the special fund created under
sub. (6) (c). Each such bond or note shall contain such recitals as are necessary to show that it is only so payable and that it does not constitute an indebtedness of such city or a charge against its general taxing power. The local legislative body shall irrevocably pledge all or a part of such special fund to the payment of such bonds or notes. Such special fund or the designated part thereof may thereafter be used only for the payment of such bonds or notes and interest thereon until the same have been fully paid; and a holder of such bonds or notes or of any coupons appertaining thereto shall have a lien against such special fund for payment of such bonds or notes and interest thereon and may either at law or in equity protect and enforce such lien.
66.46(9)(b)5.
5. To increase the security and marketability of tax incremental bonds or notes, the city may:
66.46(9)(b)5.a.
a. Create a lien for the benefit of the bondholders upon any public improvements or public works financed thereby or the revenues therefrom; or
66.46(9)(b)5.b.
b. Make such covenants and do any and all such acts, not inconsistent with the Wisconsin constitution, as may be necessary or convenient or desirable in order to additionally secure such bonds or notes or tend to make the bonds or notes more marketable according to the best judgment of the local legislative body.
66.46(10)
(10) Overlapping tax incremental districts. 66.46(10)(a)(a) Subject to any agreement with bondholders, a tax incremental district may be created, the boundaries of which overlap one or more existing districts, except that districts created as of the same date may not have overlapping boundaries.
66.46(10)(b)
(b) If the boundaries of 2 or more tax incremental districts overlap, in determining how positive tax increments generated by that area which is within 2 or more districts are allocated among such districts, but for no other purpose, the aggregate value of the taxable property in such area as equalized by the department of revenue in any year as to each earlier created district is deemed to be that portion of the tax incremental base of the district next created which is attributable to such overlapped area.
66.46(11)
(11) Equalized valuation for apportionment of property taxes. 66.46(11)(a)(a) With respect to the county, school districts and any other local governmental body having the power to levy taxes on property located within a tax incremental district, if the allocation of positive tax increments has been authorized by the department of revenue under
sub. (6) (a), the calculation of the equalized valuation of taxable property in a tax incremental district for the apportionment of property taxes may not exceed the tax incremental base of the district until the district is terminated.
66.46(13)
(13) The department of commerce, in cooperation with other state agencies and local governments, shall make a comprehensive report to the governor and the chief clerk of each house of the legislature, for distribution to the legislature under
s. 13.172 (2), at the beginning of each biennium, beginning with the 1977 biennium, as to the effects and impact of tax incremental financing projects socially, economically and financially.
