The bill establishes the framework for creating science park districts in Texas counties with populations of 800,000 or more, or those adjacent to such counties, by introducing Chapter 398 to the Local Government Code. The primary objectives of these districts include fostering scientific research and technological innovation, supporting technology companies, and enhancing collaboration between educational institutions and the science and technology sector. The bill clarifies that these districts will not serve as agents for private interests, despite their potential benefits to both public and private sectors. To initiate the establishment of a district, owners of at least 1,000 contiguous acres can petition the Texas Economic Development and Tourism Office, which will evaluate the petition based on the chapter's requirements.

The bill outlines the governance structure of the districts, including the formation of a nine-member board of directors and their responsibilities, as well as the authority to impose assessments, fees, and taxes to fund district objectives. It allows districts to accept various forms of funding, including gifts and grants, and emphasizes the development of state-of-the-art facilities while ensuring minimal environmental impact. Additionally, the bill includes provisions for imposing ad valorem taxes with voter approval, restrictions on real property use in accordance with local regulations, and mandates for annual reporting and public meetings to ensure transparency. The new provisions are set to take effect on September 1, 2025.

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