Assembly Bill 137 proposes specific amendments to the statutes governing Tax Incremental Financing (TIF) for Tax Incremental District (TID) Number 9 in the village of DeForest. The bill extends the maximum life of TID Number 9 from the current 20 years to 30 years after its creation in September 2017, allowing for continued allocation of tax increments during this extended period. Additionally, the bill exempts TID Number 9 from the existing 12 percent cap on the total value of taxable property that can be included in TIF districts within the village, permitting one amendment to the project plan without being subject to this limitation.

Furthermore, the bill specifies that the provisions for extending the life of a TID for housing stock improvement do not apply to TID Number 9. This means that while other TIDs may be eligible for a one-year extension under certain conditions, TID Number 9 will not have this option available. The changes aim to facilitate development and investment in the village of DeForest by providing more flexibility in the management of TID Number 9.