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TITLE 7BANKING AND SECURITIES
PART 1FINANCE COMMISSION OF TEXAS
CHAPTER 6BANKING DEVELOPMENT DISTRICTS
RULE §6.1Purpose; Scope

(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

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