The bill establishes the Rivers Market Place Municipal Management District in Elgin, Texas, by adding Chapter 4022 to the Special District Local Laws Code. This district will have the authority to issue bonds, impose assessments, fees, and taxes, and will be granted limited powers of eminent domain, although it specifically states that the district may not exercise the power of eminent domain as outlined in the new Section 4022.0310. The district aims to promote economic development and enhance public welfare by providing essential services such as water, wastewater, drainage, and recreational facilities, while supplementing existing city services. Governance will be managed by a board of five elected directors serving staggered four-year terms, with the ability to engage in economic development programs and create a nonprofit corporation for project implementation.

The bill also details the operational framework of the district, including the classification of parking facilities as essential components of street improvements and the procedures for disbursements, land management, and potential division of the district. It requires a petition from property owners for financing services through assessments and mandates elections for imposing ad valorem taxes and issuing bonds. The bill emphasizes that the district cannot be dissolved while having outstanding debts or obligations. It will take effect immediately upon receiving a two-thirds vote from elected members in both houses, or on September 1, 2025, if that majority is not achieved. The restriction on eminent domain is a significant change that could influence future development and land use within the district.

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