City/Village Tax Incremental Finance (s. 66.1105)
Amendment Packets
In the spring of 2004, a major package of TIF reforms was adopted by the Wisconsin Legislature. The changes:
- expanded the ways TIF could be used
- bolstered the level of oversight the state had regarding its use
- affect the legal requirements and forms needed for creating a TID
Because of these changes, there are different sets of forms for amending an active TID. Please choose the correct forms from their respective sections below.
Existing Tax Incremental Districts (TID's) are able to amend their project plans in the following three situations:
- Project Plan Amendment: Adds projects that were not included in the original plan. This does not affect the project implementation period, base value nor the TID's maximum life.
- Allocation Amendment: Allows a community to allocate increment from one TID to another. This could affect the length of time a TID remains open while it is sharing increments with another district. The base value, implementation period, and maximum life are not affected.
- Territory Amendment: Allows the addition or subtraction of territory to a district. This can be done up to four times during the TIF district's expenditure life. The value of the new area is added or subtracted from the original base. Note: If you are adding and subtracting territory in one amendment, both sets of forms must be submitted, and a fee of $2,000 is required.
The Department of Revenue uses the information on these forms to verify that proper legal procedures were followed and to establish the district's amended base value, if needed. They must be completed and submitted to the department on or before December 31st based on the amendment resolution date.
For more information contact:
- E-mail - tif@revenue.wi.gov
- Susan Plakus (608) 261-5335
- Mary Lou Clayton (608) 266-5708
Last updated September 20, 2006