H.B. No. 4824 amends the Tax Code to expand the authority of certain municipalities to utilize specific tax revenue for qualified projects. The bill reenacts and modifies Section 351.1015(b), which now applies to municipalities with populations of at least 700,000 but less than 950,000, those containing over 70% of a county's population with 1.5 million or more, and municipalities with populations of at least two million. Additionally, it introduces new criteria for eligibility, including municipalities with populations over 150,000 that are entirely located in counties with populations of 3.3 million or more.

The bill also clarifies that it takes precedence over any conflicting legislation from the 89th Legislature, Regular Session, 2025, regarding nonsubstantive changes to enacted codes. The provisions of this act are set to take effect on September 1, 2025.