1. (a) On January 1, 2029, each designated township that meets the criteria described in section 1(b) of this chapter is dissolved. All of the following occur:

   1. (1) The term of office of an individual who holds a township office ends on December 31, 2028. An election for a township office shall not be held in 2029 or thereafter.

   2. (2) The:

      1. (A) powers and duties of the office of township trustee are transferred to the executive of the recipient municipality;
      2. (B) legislative powers and duties of the office of township board members are transferred to the legislative body of the recipient municipality;
      3. (C) fiscal powers and duties of the office of township board members are transferred to the fiscal body of the recipient municipality; and
      4. (D) powers and duties of the township assessor (if the office exists) are transferred to the county assessor.
   3. (3) The boundaries of the dissolved township remain as the boundaries of the service area within which the recipient municipality provides township services.

   4. (4) If a designated township participates in a fire protection territory or fire protection district, the fire protection territory or fire protection district is unaffected by the reorganization and the area within the boundaries of the dissolved township remain a part of the fire protection territory or fire protection district after reorganization. The recipient municipality succeeds the designated township in the designated township's role as:

      1. (A) a participating unit that is not a provider unit in the fire protection territory; or

      2. (B) a participant in the fire protection district;

         for the area within the boundaries of the dissolved designated township.

   5. (5) The balance in the general fund of the designated township shall be transferred to the general fund of the recipient municipality.
   6. (6) The balance in the township assistance fund of a designated township shall be transferred to a township assistance fund established by the recipient municipality.
   7. (7) The balance of a fund for which the township imposes property taxes that are not subject to the maximum ad valorem levy limits under IC 6-1.1-18.5 to pay for debt service shall be transferred to the fund of the recipient municipality for which the recipient municipality imposes property taxes that are not subject to the maximum ad valorem levy limits under IC 6-1.1-18.5 to pay for debt service. If the recipient municipality does not have such a fund as of January 1, 2029, the designated unit shall establish the fund. If a township has more than one fund for which the township imposes property taxes that are not subject to the maximum ad valorem levy limits under IC 6-1.1-18.5 to pay for debt service, then the designated unit shall establish one fund for each fund for which the township imposes property taxes that are not subject to the maximum ad valorem levy limitations under IC 6-1.1-18.5 to pay for debt service.
   8. (8) Subject to section 29 of this chapter, the property and liabilities of the designated township become the property and liabilities of the recipient municipality.
2. (b) IC 36-1-8-5 does not apply to a balance referred to in subsection (a).

As added by P.L.134-2026, SEC.3.