Sec. 8.3. (a) This section applies to a district if, as the result of:
(1) the merger of two (2) or more districts; or
(2) the changing of the boundaries of one (1) or more districts under IC 14-32-6.5;
the territory of the district is smaller than the entire area of one (1) county.
(b) The limit in section 8(b) of this chapter on the funds from political subdivisions that the state may be obligated to match shall be adjusted under this section in the case of a district described in subsection (a).
(c) If the territory of a district contains less than the entire area of one (1) county, the limit on the funds from political subdivisions that the state may be obligated to match is the product of:
(1) ten thousand dollars ($10,000); multiplied by
(2) a percentage equal to the percentage of the county's entire area that is included in the territory of the district.
As added by P.L.95-2016, SEC.6.