The following apply:

1. (1) Indebtedness that was incurred by the recipient municipality or designated township before January 1, 2029:

   1. (A) may not be imposed on taxpayers that were not responsible for payment of the indebtedness before January 1, 2029; and
   2. (B) must be paid by the taxpayers that were responsible for payment of the indebtedness before January 1, 2029.

2. (2) Pension obligations existing as of January 1, 2029:

   1. (A) may not be imposed on taxpayers that were not responsible for payment of the pension obligations before January 1, 2029; and
   2. (B) must be paid by the taxpayers that were responsible for payment of the pension obligations before January 1, 2029.

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