WI AB737

Municipalities may create neighborhood improvement districts with special assessment authority when petitioned by all property owners in the proposed district, with proceeds restricted to funding infrastructure related to residential development within the district.

Special assessments may be collected in installments and included in tax rolls for collection, with municipalities designating the maximum number of years for installment payments.

Operating plans for these districts must describe the infrastructure to be funded and specify repayment amounts attributed to each parcel or the method for determining those amounts.

Mailed notice requirements may be waived if a single person owns all property in the district, and board composition rules are modified when fewer than 5 persons own property within the district.

Real estate disclosure forms are amended to require sellers to disclose existing neighborhood improvement special assessments, effective the first day of the 7th month after publication.