Senate Bill 24 proposes amendments to the statutes regarding tax incremental financing districts (TIDs) specifically for the city of Middleton. The bill creates two new sections, 66.1105 (6) (g) 7. and 66.1105 (17) (h), which provide exceptions for TID Number 6. Notably, the bill states that the existing 12 percent limit on the total value of taxable property that can be included in a TID does not apply to TID Number 6 if it is created before June 1, 2025.

Additionally, the bill stipulates that the provisions allowing for the extension of a TID's lifespan for housing stock improvement do not apply to TID Number 6 in Middleton. This means that while other TIDs may be eligible for a one-year extension under certain conditions, TID Number 6 will not have this option. Overall, the bill aims to provide more flexibility for the city of Middleton in managing its tax incremental financing district.