Loudenbeck to help lead TIF committee
MADISON—Rep. Amy Loudenbeck, R-Clinton, has been named vice chair of the Legislative Council Special Committee on the Review of Tax Incremental Financing.
The committee will study and review the intent behind TIF laws and how they are used in Wisconsin. The committee will recommend legislation that could improve their effectiveness, and also will study the impact of TIF on a local governmental unit's finances and property taxes, economic and community development and job growth.
“Tax incremental financing is one the most powerful economic development tools in Wisconsin,” said Loudenbeck, who represents the 31st Assembly District that includes eastern Rock and western Walworth counties.
“Almost 40 years have passed since the first TIF laws were enacted. The committee will provide an important opportunity for stakeholders to evaluate the existing law and contemplate potential modifications.”
Sen. Rick Gudex, R-Fond du Lac, will chair the committee.