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WI SB1033
WI SB1033Allowing more than 35 percent of the area within a tax incremental district in the Village of Somers to be used for residential use. (FE)
summary
Introduced
02/17/2026
02/17/2026
In Committee
02/17/2026
02/17/2026
Crossed Over
Passed
Dead
Introduced Session
Potential new amendment
2025-2026 Regular Session
Bill Summary
Current law requires that revenue obtained through tax incremental financing (TIF) be used only for certain project costs, including any expenditures made or estimated to be made or monetary obligations incurred or estimated to be incurred for a mixed-use development tax incremental district (TID). Under current law, mixed-use development means development that contains a combination of industrial, commercial, or residential uses, except that lands proposed for newly platted residential use may not exceed 35 percent of the real property within the TID. This bill creates an exception to this 35 percent limit for TIDs in the Village of Somers. Under the bill, lands proposed for newly platted residential use within a mixed-use development TID in the Village of Somers may not exceed 50 percent of the real property within the TID. For further information see the local fiscal estimate, which will be printed as an appendix to this bill. LRB-6416/1 MDE:skw 2025 - 2026 Legislature SENATE BILL 1033
AI Summary
This bill allows the Village of Somers to designate up to 50 percent of the land within a tax incremental district (TID) for new residential development, increasing the current limit of 35 percent. Tax incremental financing, or TIF, is a tool used by local governments to finance development and redevelopment projects, where future property tax revenue generated by the increased value of the property within the TID is used to pay for the project costs. A "mixed-use development" TID, as defined in the bill, is one that includes a combination of industrial, commercial, or residential uses, and this change specifically impacts the proportion of residential use allowed within such districts in the Village of Somers.
Committee Categories
Transportation and Infrastructure
Sponsors (3)
Last Action
Fiscal estimate received (on 02/18/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://docs.legis.wisconsin.gov/2025/proposals/reg/sen/bill/sb1033 |
| Senate Amendment 1 | https://docs.legis.wisconsin.gov/document/amends/2025/REG/SB1033-SA1.pdf |
| Fiscal Note - SB1033: Fiscal Estimate From DOR | https://docs.legis.wisconsin.gov/2025/related/fe/sb1033/sb1033_dor.pdf |
| BillText | https://docs.legis.wisconsin.gov/document/proposaltext/2025/REG/SB1033.pdf |
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