Sec. 2. (a) As used in this chapter, "long haul water pipeline" means a newly constructed, continuous pipeline that has the ability to transport water:
(1) at a capacity of at least ten million (10,000,000) gallons per day; and
(2) to a destination located at least thirty (30) miles from the withdrawal source.
(b) The term does not include:
(1) a project that will return at least fifty percent (50%) of the transported water after utilization back to the withdrawal source; or
(2) a pipeline project located, in whole or in part, inside the Great Lakes-St. Lawrence River basin (as defined in IC 14-25-15-1).