What does Texas HB3114 do?
HB3114 immediately deregulates vertical construction limits in Central Austin by abolishing four specific Capitol View Corridors (CVCs) and raising height caps for the University of Texas Royal-Texas Memorial Stadium. This action instantly alters the "highest and best use" valuation for real estate assets near Mueller, I-35/MLK, and Oakwood Cemetery, requiring developers and land owners to update feasibility studies and pause pending real estate transactions to reassess value. Implementation Timeline Effective Date: June 20, 2025 (Immediate effect triggered by supermajority vote, overriding the standard September 1 date).