SULLIVAN. New Act Creates the Banking Development District Act. Provides for a system of tax exemptions for real property used for banks, trust companies, or national banks located within banking development zones. Provides that the Treasurer, in consultation with the Office of Banks and Real Estate, must promulgate rules setting forth the criteria for the establishment of banking development districts. Provides procedures by which local governments, in conjunction with banks, trust companies, or national banks, can establish banking development zones. Provides procedures for calculating and applying for tax exemptions. Effective immediately. JAN-30-2002 S FIRST READING JAN-30-2002 S REFERRED TO SENATE RULES COMMITTEE RULES JAN-07-2003 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary