The bill establishes the Puerto Verde Port Authority District in Maverick County, Texas, granting it the authority to issue bonds, impose assessments, fees, and taxes, and exercise limited powers of eminent domain. It outlines the district's purpose of promoting economic development, transportation, and public welfare, while providing essential services and infrastructure, including rail facilities. The governance of the district will be managed by a board of five elected directors, and the bill specifies the initial territory of approximately 1898.24 acres, along with eligibility for inclusion in special zones like tax increment reinvestment zones. The district will also have the ability to contract with governmental or private entities and provide law enforcement services.

Additionally, the bill introduces a new section, 4011.0313, to the Special District Local Laws Code, which explicitly states that the district may not exercise the power of eminent domain, clarifying limitations on its authority regarding property acquisition. The legislation includes provisions for managing public parking facilities, developing rail and bridge facilities, and outlines the procedures for adding or excluding land from the district. It also establishes guidelines for financial operations, including assessments and bond issuance, while ensuring accountability and adherence to legal requirements. The bill will take effect immediately upon receiving a two-thirds vote from elected members in both houses, or on September 1, 2025, if this majority is not achieved.

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