H.B. No. 4308 seeks to establish county industrial development districts in select Texas counties to foster economic growth and attract major industrial employers. The bill introduces a new Chapter 389 to the Local Government Code, detailing the definitions, purposes, and governance structure of these districts. Key provisions grant the districts the authority to issue bonds, impose assessments, fees, or taxes, and create a board of directors to oversee operations. The bill emphasizes that these districts are intended to enhance employment and public welfare while complementing existing county or municipal services. The process for creating a district requires a majority vote in an election called by the county commissioners court.

Additionally, the bill outlines the operational framework for the districts, including the establishment of a nonprofit corporation to assist in project implementation, and specifies the qualifications and terms for directors. It allows for economic development activities, such as providing loans and grants, and includes provisions for the inclusion or exclusion of land within the district. The bill also addresses financing requirements, including the need for a written petition from property owners before assessments can be imposed, and outlines the process for adopting a sales and use tax, which requires voter approval. Furthermore, it grants the board the authority to abolish the tax under certain conditions and details the dissolution process for a district. The bill is set to take effect immediately upon a two-thirds vote or on September 1, 2025, if that threshold is not met.

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