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 2015 or in any year thereafter is more than:
(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.
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