A Boring Dystopia

Obviously no. Prior efforts at invoking this kind of legislation in Oklahoma failed and the federal court struck it down fairly quickly.

Texas actually already has House Bill 4211, the "Sharia Compound Ban", which states

The purchase agreement and any other agreement or rules governing the residential arrangement or the ownership interest in the entity may not require that a dispute concerning the arrangement or interest be brought before a tribunal other than a court established under the laws of this state or the United States.

This was intended to prevent the completion of EPIC City, a master-planned Islamic community-centered residential development project just north of Dallas. Although this mostly seems to be focused on investment and ownership stake in residential and commercial properties by a large pool of wealthy Muslim investors.

If there's any effort to invoke this law at a functional level, it will likely be targeted at the minority Muslim Texas residents, with the intent of depriving them of their property and possessions.