WI SB689

Maximum tax incremental district (TID) life extension for housing stock improvement increases from 1 year to 3 years under this amendment to Wisconsin statute 66.1105.

Extensions beyond 1 year require approval by resolution from the joint review board, which includes representatives from other affected taxing jurisdictions.

Cities must forward copies of extension resolutions to the Department of Revenue to continue receiving tax increment allocations.

At least 75% of tax increments collected during the extension period must benefit affordable housing, with the remainder going to other housing stock improvements.