The department shall certify a new township government's budget, tax rate, and levy as set forth in IC 6-1.1-17-16 . The department shall not approve a new township government's maximum permissible ad valorem property tax levy under IC 6-1.1-18.5 for taxes first due and payable in 2029 that exceeds the result of:

1. (1) the sum of the maximum permissible ad valorem property tax levies of the designated townships and recipient township participating in the merger for 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.

As added by P.L.134-2026, SEC.9.