(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.
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