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. Additionally, it allows for the allocation of tax increments for this extended period. The bill also creates an exception to the existing 12 percent limit on the total value of taxable property that can be included in TIF districts, stating that this limit does not apply to one amendment of the project plan for TID Number 9.

Furthermore, the bill specifies that the provisions for extending the life of a TID for housing stock improvement cannot be applied to TID Number 9. This means that while the district can benefit from an extended life and increased allocation of tax increments, it cannot utilize the typical one-year extension for housing improvements. The bill aims to facilitate development in the village of DeForest by providing these exceptions tailored specifically for TID Number 9.