Texas Administrative Code (Last Updated: March 27,2024) |
TITLE 7. BANKING AND SECURITIES |
PART 1. FINANCE COMMISSION OF TEXAS |
CHAPTER 6. BANKING DEVELOPMENT DISTRICTS |
SECTION 6.1. Purpose; Scope
Latest version.
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(a) This chapter implements Finance Code, Chapter 279, by providing application requirements for a municipality or county that seeks to establish a banking development district in conjunction with a financial institution. (b) This chapter does not affect or circumvent: (1) requirements under the Tax Increment Financing Act or the Property Redevelopment and Tax Abatement Act (Tax Code, Chapters 311 and 312, respectively), including requirements for designation of an area as a municipal or county reinvestment zone or for authorization to enter into a tax abatement agreement; or (2) any required regulatory approval for a financial institution that seeks to establish a branch in a banking development district. Source Note: The provisions of this §6.1 adopted to be effective November 5, 2015, 40 TexReg 7621; amended to be effective January 2, 2020, 44 TexReg 8230