(a) Within not more than sixty (60) days of the date all petitions are filed, the secretary of state shall review the petitions and shall notify the committee of applicants whether the petitions were properly or improperly filed. The petitions shall be determined to be improperly filed if:
(i) There is an insufficient total number of signatures of qualified registered voters; or (ii) There is an insufficient number of signatures of qualified registered voters in at least two-thirds (2/3) of the counties of the state.