As used in this chapter, "eligible school corporation" refers to any of the following:

1. (1) A school corporation located in a county in which distributions of property tax revenue for 2007 or 2008 to the taxing units (as defined in IC 6-1.1-1-21 ) of the county:

   1. (A) have not been made; or
   2. (B) were delayed by more than sixty (60) days after either due date specified in IC 6-1.1-22-9 .

2. (2) A school corporation that is:

   1. (A) designated by the distressed unit appeal board as a distressed political subdivision under IC 6-1.1-20.3 ; or
   2. (B) approved for a loan by the distressed unit appeal board under IC 6-1.1-20.3-8.3 .
3. (3) A school corporation that had a loan from the counter-cyclical revenue and economic stabilization fund denied in October 2013. However, the school corporation is not an eligible school corporation if in 2014 the voters approve a referendum tax levy for the school corporation under IC 20-46-1 .

As added by P.L.131-2008, SEC.5. Amended by P.L.145-2012, SEC.16; P.L.166-2014, SEC.5.