(2)(a) The commission has jurisdiction over a municipal corporation with a population not exceeding 200,000 unless an election is made under this subsection.
(b) The governing body of a municipal corporation electing not to be under the jurisdiction of the commission must make the election and communicate its intention to the commission not later than January 1 of the calendar year in which the fiscal year for which the budget is proposed will begin.
(c) An election under this subsection is effective for a period of not less than three years. [Amended by 1961 c.678 §3; 1965 c.451 §12; 1969 c.155 §4; 1981 c.623 §1; 1991 c.459 §10; 2009 c.596 §6]