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 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 within the village, permitting one amendment to the project plan for TID Number 9 without being subject to this limitation.

Furthermore, the bill stipulates that the housing stock improvement extension, which typically allows a city or village to extend a TID's life for up to one year 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 life of TID Number 9 for housing improvements, thereby focusing the TID's purpose solely on its original project plan and financing goals.