1. (a) If a majority of the persons who voted in the referendum did not vote "yes" on the referendum question:

   1. (1) the school corporation may not make any levy for its school safety referendum tax levy fund; and

   2. (2) another referendum under this chapter may not be held earlier than:

      1. (A) except as provided in clause (B), seven hundred (700) days after the date of the referendum; or
      2. (B) three hundred fifty (350) days after the date of the referendum, if a petition that meets the requirements of subsection (b) is submitted to the county auditor.

2. (b) If a majority of the persons who voted in the referendum did not vote "yes" on the referendum question, a petition may be submitted to the county auditor to request that the limit under subsection (a)(2)(B) applies to the holding of a subsequent referendum by the school corporation. If such a petition is submitted to the county auditor and is signed by the lesser of:

   1. (1) five hundred (500) persons who are either owners of property within the school corporation or registered voters residing within the school corporation; or

   2. (2) five percent (5%) of the registered voters residing within the school corporation;

      the limit under subsection (a)(2)(B) applies to the holding of a second referendum by the school corporation, and the limit under subsection (a)(2)(A) does not apply to the holding of a second referendum by the school corporation.

As added by P.L.272-2019, SEC.12.