Upon the corporate dissolution of a merged 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 reestablished township government created 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 each reestablished township government that is created 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 the merged township government.

As added by P.L.240-2005, SEC.4.