Bill > AB140

This bill modifies existing tax incremental financing (TIF) district regulations specifically for the city of Port Washington by exempting TID Number 5 from the standard statewide limitation that restricts the total value of tax incremental districts to 12 percent of a city's total equalized taxable property value. Tax incremental financing is a tool used by local governments to fund public improvements by borrowing against future property tax revenue increases expected in a designated development area. Normally, municipalities are constrained from creating too many TIF districts by the 12 percent cap, but this bill provides a specific exception for Port Washington's fifth tax incremental district, effectively allowing the city more flexibility in financing local development projects without being limited by the typical statewide restrictions. The bill appears to be a targeted local measure designed to support specific economic development goals in Port Washington by providing a unique regulatory allowance for this particular tax incremental district.

Budget and Finance, Business and Industry

https://docs.legis.wisconsin.gov/2025/proposals/reg/asm/bill/ab140