WI SB1033

Increases the maximum allowable residential land area in mixed-use Tax Incremental Districts (TIDs) in the Village of Somers from 35% to 50%

Creates a specific exception to statewide TIF rules that applies only to the Village of Somers

Amends Wisconsin statute 66.1105 (2) (cm), which defines "mixed-use development" for tax incremental financing purposes

Current law limits newly platted residential use to 35% of real property within mixed-use TIDs statewide; this exception allows Somers more flexibility for residential development