Senate Bill 1033 proposes an amendment to the existing law regarding tax incremental districts (TIDs) in the Village of Somers, specifically addressing the percentage of land that can be designated for residential use. Currently, the law stipulates that lands proposed for newly platted residential use within a mixed-use development TID cannot exceed 35 percent of the total area. This bill seeks to increase that limit to 50 percent for TIDs located in the Village of Somers, thereby allowing for a greater proportion of residential development within these districts.

The specific legal language amended in the bill modifies section 66.1105 (2) (cm) of the statutes. The new provision states that while the general limit remains at 35 percent for mixed-use developments, the Village of Somers is granted an exception where the residential use can occupy up to 50 percent of the TID area. This change aims to facilitate more residential development in the Village of Somers, potentially addressing housing needs and promoting growth in the area.

Statutes affected:
Bill Text: 66.1105(2)(cm), 66.1105