H.B. No. 2313 amends the Texas Tax Code to expand the authority of certain municipalities to utilize tax revenue for qualified projects. The bill modifies the definition of a "project financing zone" to include areas within a three-mile radius of a qualified project or, if designated by specific municipalities by December 31, 2024, a continuous geographic area that meets certain size criteria. Additionally, the bill specifies that the designation of such zones must include precise geographic coordinates or boundaries and that these designations will expire no later than 30 years after they are established.

Furthermore, the bill clarifies the municipalities eligible for these provisions by updating the population criteria. It retains the requirement for municipalities to have populations of at least 700,000 but less than 950,000, and it adds new categories, including municipalities with over 70% of a county's population if that county has 1.5 million residents or more, as well as municipalities with populations exceeding 250,000. The bill is set to take effect on September 1, 2025.

Statutes affected:
Engrossed: Tax Code 351.1015 (Tax Code 351)
Senate Committee Report: Tax Code 351.1015 (Tax Code 351)
Enrolled: Tax Code 351.1015 (Tax Code 351)