SB 105

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. Currently, towns and counties also have a limited ability to create a

TID under certain circumstances. Before a city or village may create a TID, 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 for the TID, approval of the proposed

project plan by the common council or village board, approval of the city's or village's

proposed TID by a joint review board that consists of members who represent the

overlying taxation districts, and adoption of a resolution by the common council or

village board that creates the TID as of a date provided in the resolution.

Under the current law limitations on towns to use tax incremental financing

(TIF), a town may create a TID for projects related to tourism, agriculture,

manufacturing, or forestry. A town may also use TIF for residential projects, but only

to the extent that the residential project has a necessary and incidental relationship

to a tourism, agricultural, manufacturing, or forestry project, and for retail projects

to the extent that the retail development is related to the retail sale of a product that

is produced due to an agricultural, forestry, or manufacturing project.

A town may also create a TID in limited circumstances under which the town

enters into a cooperative plan with a city or village under which part or all of the town

will be annexed or attached by the city or village.

This bill authorizes the town of Rome in Adams County to make direct cash

grants or loan subsidies to an owner, lessee, or developer of land in a TID that

includes a golf course. The authorization created in the bill may only be used for one

TID.