HB 2877 expands the definition of a project financing zone for municipalities using certain tax revenue to fund convention center facilities, multipurpose arenas, venues, and related infrastructure. The bill modifies Section 351.1015(a)(4) of the Tax Code to allow municipalities to designate a project financing zone within a three-mile radius of the center of a qualified project or, in certain cases, within a contiguous geographic area of equal or lesser size. The bill also clarifies that the designation must specify the longitude and latitude of the project center or the exact boundaries of the zone, and that the designation expires no later than 30 years from the date of its creation.