(1) Except as otherwise provided in this subchapter, no municipality shall be subject to the provisions of this act after five years from the effective date of an ordinance enacted in accordance with section 245 or 246.¹ No amendment to a plan shall affect the termination date as determined from the date of enactment of the original ordinance.

(2) Nothing in this section shall be construed to:

(1) Municipalities operating pursuant to a recovery plan on the effective date of this section shall be subject to a termination date five years from the effective date of the most recent recovery plan or amendment enacted in accordance with this act, provided, however, that municipalities subject to a plan that will remain in effect for one year or less on the effective date of this subsection shall be subject to a termination date three years from the termination date of the current plan or plan amendment.

(2) If its distressed status has not been rescinded or has been continued in accordance with section 710.1,⁴ a municipality operating under Chapter 7⁵ shall be subject to a final termination date no more than five years from the termination date of receivership. Section 255⁶ shall not apply to a termination of status under this paragraph.