Annexation of residential development. Allows a third class city to annex: (1) a noncontiguous residential development; and (2) the right of way of a public highway connecting the development to the city. Provides that annexation is initiated by: (1) the homeowner's association board petitioning the city legislative body for annexation of the development; and (2) the city legislative body adopting a resolution approving initiation of the annexation process. Requires the city to satisfy statutory requirements for annexation including adopting a written fiscal plan and annexation ordinance and conducting an outreach program. Changes population parameters to reflect the population count determined under the 2020 decennial census.