Assembly Bill 22 proposes specific amendments to the statutes regarding tax incremental financing districts (TIDs) in the city of Middleton. The bill creates two new sections: 66.1105 (6) (g) 7. and 66.1105 (17) (h). The first section states that the existing limitations on the total value of taxable property that may be included in a TID do not apply to Tax Incremental District Number 6 in Middleton if it is created before June 1, 2025. The second section explicitly notes that the 12 percent limit on the equalized value of taxable property for TIDs does not apply to the creation of TID Number 6 under the same conditions.

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 once TID Number 6 is established, it cannot benefit from the one-year extension typically available for housing improvements, which requires the city to pay off project costs and adopt a resolution for the extension. Overall, the bill aims to provide specific exemptions for TID Number 6 in Middleton, facilitating its creation and limiting the conditions under which it can be extended.