Upon the corporate dissolution of a township government under this article, the following apply for purposes of all state and federal licensing and regulatory laws, statutory entitlements, gifts, grants-in-aid, governmental loans, or other governmental assistance under state or federal statutes, rules, or regulations:

1. (1) The entire geographic area and population of a new township government that is established under this chapter shall be used when calculating and determining the distribution basis for the following:

   1. (A) State or federal government statutory entitlements.
   2. (B) Gifts.
   3. (C) Grants-in-aid.
   4. (D) Loans.
   5. (E) Any form of governmental assistance that is not listed in this subdivision.

2. (2) Following a public hearing for which notice is published in accordance with IC 5-3-1 at least thirty (30) days before the public hearing takes place, the executive of a new township government that is established under this chapter shall determine and designate to the appropriate state or federal agency the:

   1. (A) geographic areas;
   2. (B) parts of roads;
   3. (C) segments of population; or

   4. (D) combinations of the items listed in clauses (A) through (C);

      that constitute rural or urban areas, roads, or populations, if this designation was previously required of any township that merges under this chapter.

As added by P.L.240-2005, SEC.3.