Texas HB2877 amends the definition of a project financing zone for municipalities using tax revenue for convention centers and related infrastructure.

Texas HB2877 amends the definition of a "project financing zone" in the Tax Code. It specifies that such zones must be designated by a municipality through ordinance or agreement under the Local Government Code. The boundaries of these zones can be within a three-mile radius of a qualified project or a contiguous area containing the project, not exceeding the three-mile radius. The designation must specify the exact boundaries or the longitude and latitude of the project's center and expires 30 years after designation. This Act takes effect September 1, 2025.

Texas HB2877 amends the definition of a project financing zone for municipalities using tax revenue for convention centers and related infrastructure.

Texas HB2877 amends the definition of a "project financing zone" in the Tax Code. It specifies that such zones must be designated by a municipality through ordinance or agreement under the Local Government Code. The boundaries of these zones can be within a three-mile radius of a qualified project or a contiguous area containing the project, not exceeding the three-mile radius. The designation must specify the exact boundaries or the longitude and latitude of the project's center and expires 30 years after designation. This Act takes effect September 1, 2025.