Relating to the authority of certain special districts and corporations created by certain special districts to exercise certain rights and powers outside district boundaries.

SB 2518 limits special districts and their created corporations from acquiring, developing, or leasing multifamily housing or property outside their district boundaries after September 1, 2025. It specifically prohibits these entities from granting leases that would exempt private tenants from property taxes. The bill includes an exception allowing districts to exercise restricted powers only to fulfill existing debts, bonds, or obligations. This law takes effect on September 1, 2025, unless passed with a two-thirds vote for immediate implementation.