(a)      The organizing committee shall present to the county governing body a proposed charter for use in the referendum election:

            (1)      Within 45 days of receipt of the comments submitted to the organizing committee under § 22(b) of this subtitle; or

            (2)      If the county governing body has not submitted comments, no later than 90 days after the date the report is sent by the organizing committee under § 22(a)(1)(iii) of this subtitle.

      (b)      The organizing committee shall also submit with the proposed charter statements that describe:

            (1)      The likely fiscal effect of the proposed incorporation on residents of the proposed municipality, residents in the vicinity of the proposed municipality, and the county as a whole;

            (2)      The services the proposed municipality will provide; and

            (3)      The impact the proposed incorporation will have on property tax rates.