An Act to create 66.1105 (17) (h) of the statutes; Relating to: limitations on the total value of taxable property that may be included in a tax incremental financing district created in the city of Port Washington. (FE)
Summary
AB140 creates a narrow statutory exception to Wisconsin’s tax incremental financing (TIF) rules for the City of Port Washington. Under current law, the total equalized value of taxable property in a new or amended TID, when combined with the increment from existing TIDs in the municipality, generally may not exceed 12% of the municipality’s total equalized taxable property value. This bill exempts Tax Incremental District Number 5 in Port Washington from that 12% cap.
In practical terms, the bill allows Port Washington to create TID No. 5 even if doing so would push the city beyond the normal statewide TIF value limit. The bill does not change the general TIF framework for other cities and villages; it simply adds a city-specific carveout to s. 66.1105 of the statutes.
Impact
The bill amends Wisconsin Statutes section 66.1105 by creating subsection (17)(h), which removes the 12% municipal TIF value limitation for the creation of Port Washington’s Tax Incremental District No. 5. This affects local government finance and development policy by expanding Port Washington’s ability to use TIF for redevelopment or infrastructure financing, while leaving the statewide cap in place for other municipalities. The primary parties affected are the City of Port Washington, local taxpayers, and any developers or public projects that would be financed through the new district.
Sentiment
The bill appears to have been generally favorable and noncontroversial in the Legislature. It passed the Assembly 91-6 and the Senate 29-3, indicating broad bipartisan support. The absence of committee transcript discussion suggests there was little recorded public dispute or extended debate in the available materials.
Contention
The main point of contention is the policy choice to grant a municipality-specific exception to a statewide TIF limit. Supporters likely viewed the carveout as a practical tool to help Port Washington pursue local development, while critics may have objected to weakening a uniform fiscal safeguard or creating a special exception for one city. The recorded votes show only a small minority opposed the measure, and no detailed committee objections are available in the provided materials.
Crossfiled
An Act to create 66.1105 (17) (h) of the statutes; Relating to: limitations on the total value of taxable property that may be included in a tax incremental financing district created in the city of Port Washington. (FE)