HB 470, the Texas Capitol Public Safety Protection Act, designates the Texas Department of Public Safety (DPS) as the primary authority for law enforcement, security, traffic, and parking enforcement within the Capitol Complex, amending Sections 411.061 and 411.062 of the Government Code and introducing provisions in the Tax Code. The bill mandates an interlocal agreement between DPS and the City of Austin to define responsibilities within the complex, including private property. It establishes a formula to calculate DPS’s annual cost of providing these services and reduces Austin’s share of taxes collected under Subchapter F, Chapter 321 of the Tax Code by an equivalent amount, which is credited to the general revenue fund and earmarked for DPS activities. The act takes effect immediately with a two-thirds majority vote or on September 1, 2025, otherwise.