For purposes of the property tax levy limits under IC 6-1.1-18.5 , a tax levied by a recipient municipality under this chapter is included in the calculation of the maximum permissible property tax levy for the recipient municipality. For property taxes first due and payable in 2029, the recipient municipality's maximum permissible ad valorem property tax levy under IC 6-1.1-18.5 shall be increased by:

1. (1) the township's maximum permissible ad valorem property tax levy under IC 6-1.1-18.5 for property taxes first due and payable in 2028; multiplied by

2. (2) the maximum levy growth quotient under IC 6-1.1-18.5-2 for property taxes first due and payable in 2029.

   The recipient municipality's maximum permissible ad valorem property tax levy under IC 6-1.1-18.5 for property taxes first due and payable in 2029 as adjusted under this section shall be used in the determination of the recipient municipality's maximum permissible ad valorem property tax levy under IC 6-1.1-18.5 for property taxes first due and payable in 2030 and thereafter.

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