- (a) Except as provided in subsection (b), after March 31, 2026, the school city may not take any action under the procedures set forth in IC 6-1.1-20 and instead the corporation shall assume the powers and duties of the school city under IC 6-1.1-20 in the territory of the school city. Property tax revenue received from a referendum controlled project tax levy that is approved by the voters after March 31, 2026, shall be distributed to the corporation in the manner provided under IC 6-1.1-20 .
- (b) A referendum controlled project tax levy that is approved by the voters before April 1, 2026, shall continue to be imposed after March 31, 2026, and the school city shall continue to use the revenue from the referendum controlled project tax levy to pay debt service on the same terms, for the same period of time, and for the same purposes for which it was originally approved by the voters.
As added by P.L.101-2026, SEC.12.