SB 252 — Relating to: extending the time during which tax increments may be allocated and expenditures for project costs may be made for Tax Incremental District Number 2 in the city of Wisconsin Dells and extending the time during which expenditures for project costs may be made for Tax Incremental District Number 3 in the city of Wisconsin Dells.

- 2022 LEGISLATURE LRBs0305/1LRB-1812/1 JK:cjs/cdc/amnJK:cdc SENATE SUBSTITUTEBILL AMENDMENT252 1,March TO31, SENATE2021 BILL- 252Introduced Januaryby 12,Senators 2022BALLWEG -and OfferedM ARKLEIN , cosponsored by SenatorRepresentatives BALLWEGD ALLMAN , KURTZ, SKOWRONSKI , STEFFEN, TITTLand T USLER .

AReferred Nto ACommittee CTon toGovernment amendOperations, 66.1105Legal (5)Review (g) and 66.1105Consumer (6)Protection. (a) (intro.);

andA N A CT to create 66.1105 (6) (a) 20.,19., 66.1105 (6) (am) 2.

o.,n. 66.1105 (6m) (c) 8.

and 66.1105 (6m)(6) (c)(am) 9.2.

o.

extending the time during which tax increments may be allocated and expenditures for project costs may be made for Tax Incremental District Number 32 in the city of Wisconsin Dells and reportingextending the valuetime ofduring netwhich newexpenditures constructionfor project costs may be made for Tax Incremental District Number 3 in taxthe incrementalcity districts.of Wisconsin Dells.

Analysis by the Legislative Reference Bureau Under this bill, tax increments may be allocated for Tax Incremental District Number 32 in the city ofWisconsin Dells through 2036 and expenditures may be made for project costs for that TID through 2031.

The bill also allows expenditures for project costs for Tax Incremental District Number 3 in the city of Wisconsin Dells through 2040.

LRBs0305/1 - 2022 Legislature - 2 - JK:cjs/cdc/amn The project costs of a TID, which are initially incurred by the city, include public works such as sewers, streets, and lighting systems;

site preparation - 2022 Legislature - 2 - LRB-1812/1 JK:cdc SENATE BILL 252 costs;

Under current law, each city or village that creates tax incremental districts must prepare and make available to the public updated annual reports describing the status of each existing tax incremental district, including expenditures and revenues.

The reports must contain certain information, including the name assigned to each district, the name of any developer who receives financial assistance from tax increments allocated for the district, and the amount of tax increments to be deposited into a special fund for that district.

Under the bill, the annual reports must also include the value of new construction in each tax incremental district, less the value of improvements removed from each district.

In addition, the bill requires the annual reports to include an analysis of the impact on property taxes and levy limits resulting from the value of new construction less improvements removed in each tax incremental district.

SECTIONS ECTION 1.

66.1105 (5)(6) (g)(a) of19. the statutes is amended to read:

66.1105 (5) (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 the property, the equalized value due to new construction less the value of improvements destroyed or removed, and the equalized value of the tax increment base.

The 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.

SECTION 2.

66.1105 (6) (a) (intro.) of the statutes is amended to read:

66.1105 (6) (a) (intro.) If the joint review board approves the creation of the tax incremental district under sub.

(4m), and subject to pars.

(ae) and (ag), positive tax LRBs0305/1 - 2022 Legislature - 3 - JK:cjs/cdc/amn SECTION 2 increments with respect to a tax incremental district are allocated to the city which created the district or, in the case of a city or village that annexes or attaches a district created under sub.

(16), to the annexing or attaching city or village, for each year commencing after the date when a project plan is adopted under sub.

(4) (g).

The department of revenue may 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) has 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, including the value of new construction less the value of improvements destroyed or removed, in a form and manner prescribed by the department, 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) are not subject to review by the department of revenue under this paragraph.

After the allocation of tax increments is authorized, the department of revenue shall annually authorize allocation of the tax increment to the city that created the district until the soonest of the following events:

SECTION 3.

66.1105 (6) (a) 20.

66.1105(6) (a) 20.19.

December 31, 2036, if the district is Tax Incremental District Number 32 in the city of Wisconsin DellsDells. and notwithstanding sub.

(4e)S (e)ECTION 1.,2. 3., and 6.

and (g).

SECTION 4.