A proposed soybean processing plant in Evansville would be so massive that the City wouldn’t be able to create another tax incremental financing district for 20 years under current state law.

State Senator Mark Spreitzer introduced a bill that grants a one-time exception to state statutes limiting tax incremental financing districts to 12 percent of the total equalized value of taxable property in a city or village.

The Beloit Democrat says when it is completed, the proposed CHS facility will be able to process 70 million bushels each year – representing an almost 50% increase for the state of Wisconsin’s total soybean processing capacity.

Spreitzer partnered on the legislation with Senator Howard Marklein, Representative Todd Novak, and Representative Clinton Anderson.