Senate Bill 24 proposes amendments to the statutes regarding tax incremental financing districts (TIDs) specifically for TID Number 6 in the city of Middleton. The bill creates new provisions that exempt TID Number 6 from the existing 12 percent limit on the total value of taxable property that can be included in a TID, provided that the district is established before June 1, 2025. This exemption allows for greater flexibility in the creation of TID Number 6 without being constrained by the typical limitations that apply to other districts.

Additionally, the bill stipulates that the extension of a TID's lifespan for housing stock improvement cannot be applied to TID Number 6. This means that while other TIDs may have the opportunity to extend their lifespan under certain conditions, TID Number 6 will not have this option, thereby streamlining the regulations surrounding this specific district. Overall, the bill aims to facilitate the establishment and management of TID Number 6 in Middleton while imposing specific limitations on its lifespan extension.