The Nevada Tahoe Regional Planning Agency shall exercise authority, powers and functions within the region pursuant to NRS 278.780 to 278.828, inclusive:

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1.  Only with respect to business and recreational establishments which are required by law to be individually licensed by the State of Nevada, whether or not any such business or establishment was so licensed prior to April 30, 1973, or is to be constructed on land which was so zoned or designated in a finally adopted master plan on February 5, 1968, as to permit the construction of any such business or establishment; and

2.  Only with respect to authority, powers and functions which are not granted to the Tahoe Regional Planning Agency by the Tahoe Regional Planning Compact or which are excluded, excepted or limited, wholly or partially, from the authority, powers and functions granted to the Tahoe Regional Planning Agency by such Compact.