Sec. 1. This chapter applies to a school corporation that:
(1) after June 30, 2001, establishes a retirement or severance plan that will require the school corporation to pay postretirement or severance benefits to employees of the school corporation; or
(2) includes in a collective bargaining agreement or other contract entered into after June 30, 2001, a provision to increase:
(A) the benefit; or
(B) the unfunded liability;
under a retirement or severance provision that will require the school corporation to pay postretirement or severance benefits to employees of the school corporation.