Sec. 2. As used in this chapter, “eligible municipality” means a municipality that:

(1) includes any territory located in a township for which the township assistance property tax rate for property taxes first due and payable in any year after 2014 and before 2024 is more than:

Terms Used In Indiana Code 36-1-1.5-2

(A) the statewide average township assistance property tax rate for property taxes first due and payable in the preceding year (as determined by the department of local government finance); multiplied by

(B) twelve (12); and

(2) is adjacent to one (1) or more townships other than the township described in subdivision (1).

As added by P.L.234-2013, SEC.10. Amended by P.L.249-2015, SEC.25; P.L.143-2020, SEC.1.