Towns across Wisconsin will now be able to use tax money collected from new construction to fund projects that would help improve the town's infrastructure.
Governor Walker signed the bill into law today in Rib Mountain.
It, along with other towns in the state with populations over 3,500, will be able to create Tax Incremental Finance, or TIF districts.
Those allow the town to use tax funds to finance future development projects.
The governor says that whenever towns can expand their economies, it can spread to larger surrounding areas.
"If the town of Rib Mountain is doing well and adding new development, it will help other communities from Wausau to Brokaw to Mosinee and others in between. " Governor Walker says.
The TIF District bill was authored by State Senator Jerry Petrowski of Marathon. Towns must have an equalized tax value of at $500 million in order to qualify for the new TIF opportunities.
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to firstname.lastname@example.org.
Please provide detailed information.
All comments must adhere to the WSAW.com discussion rules.