Allows the Town of Plainfield in Hendricks County (town) to annex a noncontiguous residential development that meets certain requirements. Provides that the annexation is initiated by: (1) the homeowner's association board petitioning the town legislative body for annexation of the residential development; and (2) the town legislative body adopting a resolution approving initiation of the annexation process. Provides that the town may not do the following: (1) Use the annexation territory to annex additional territory. (2) Annex additional territory within the unincorporated area extending 1/2 mile from the boundaries of the annexation territory, unless the annexation is with the consent of all of the landowners within the area to be annexed. (3) Annex, under any type of annexation, within the area that extends from the boundary of the 1/2 mile area to the town. Provides that the town's redevelopment commission may only enact a housing tax increment financing district in Liberty Township in Hendricks County if the district is approved by a resolution passed by the Mill Creek School Corporation.