WI AB706

Increases the maximum percentage of a municipality's equalized value that may be contained within tax incremental districts (TIDs) from 12% to 18%

Expands allowable TID project costs to include construction of residential buildings and costs to develop, improve, or expand parks

Removes the 35% cap on land proposed for newly platted residential use within mixed-use TIDs

Repeals 2023 Wisconsin Act 12 provisions that limited local levy calculations to only 90% of new construction value within TIDs created after December 31, 2024

Restores prior law allowing political subdivisions to increase their levy limit by 50% of the terminated TID's value increment, eliminating the Act 12 formula based on 10-15% of lifetime equalized value increases