Calculating the allowable number of amendments that a municipality may make to a tax incremental district's project plan and creating an exception to certain requirements in the amendment of such a district's plan. (FE)

As under current law, a single amendment which both adds and subtracts territory is still counted as one amendment.

Currently, before a TID may be created or its project plan amended, the city or village must adopt a resolution containing a finding that the equalized value of taxable property of the TID plus the value increment of all existing TIDs does not exceed 12 percent of the total equalized value of taxable property in the city or village (the "12 percent test"), subject to one general exception. Under the exception, a city or village may simultaneously create a new TID and subtract territory from an existing TID without adopting a resolution containing the 12 percent test if the city or village demonstrates to DOR that the value of the territory that is subtracted at least equals the amount that DOR believes is necessary to ensure that, when the new TID is created, the 12 percent test is met. The city or village must also certify to DOR that no other TID created under this exception currently exists in the city or village.

Under this bill, an amendment to a project plan which only subtracts territory from a TID is not subject to the 12 percent test.