(a) The amount of incentive aid payments may not exceed the difference between:
(1) the sum of the entitlements computed under Section 48.266 that would have been paid to the districts included in the reorganized district if the districts had not been consolidated; and
(2) the amount to which the reorganized district is entitled under Section 48.266.
(b) If the reorganized district is not eligible for an entitlement under Section 48.266, the amount of the incentive aid payments may not exceed the sum of the entitlements computed under Section 48.266 for which the districts included in the reorganized district were eligible in the school year when they were consolidated.
(c) If there is a series of consolidations at intervals in compliance with this chapter, the school district last organized is eligible to receive at due times the total sum of the series of incentive aid payments as computed separately at the time of each consolidation, subject to this subchapter.