As used in this chapter, "eligible municipality" means a municipality that:

1. (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:

   1. (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
   2. (B) twelve (12); and
2. (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.