Senate Bill 133 proposes amendments to the statutes governing Tax Incremental Financing (TIF) specifically for Tax Incremental District (TID) Number 9 in the village of DeForest. The bill extends the life of TID Number 9 from the current 20 years to a maximum of 30 years after its creation, allowing for continued allocation of tax increments during this extended period. Additionally, the bill exempts TID Number 9 from the existing 12 percent limit 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 this restriction.

Furthermore, the bill stipulates that the housing stock improvement extension, which typically allows for a one-year extension of a TID's life under certain conditions, cannot be applied to TID Number 9. This means that the village of DeForest will not have the option to extend the TID's life for housing improvements, thereby focusing solely on the extended financing period and the specific project plan amendment for TID Number 9.