Assembly Bill 22 proposes specific amendments to the tax incremental financing (TIF) regulations for the city of Middleton, particularly concerning Tax Incremental District (TID) Number 6. The bill creates new provisions under sections 66.1105 (6) (g) 7. and 66.1105 (17) (h) of the statutes, which 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 and management of TID Number 6, potentially facilitating economic development in the area.

Additionally, the bill stipulates that the extension of a TID's lifespan for housing stock improvement, which is typically allowed under current law, cannot be applied to TID Number 6 in Middleton. This means that once the TID is established, it will not have the option to extend its life for the purpose of improving housing stock, thereby placing a limitation on the district's operational timeframe. Overall, the bill aims to provide specific regulatory adjustments to support the development goals of Middleton while maintaining certain restrictions on TID Number 6.