Except as provided in section 7.5 of this chapter, after June 30, 2026, a prohibited person may not do any of the following:

1. (1) Acquire by grant, purchase, devise, descent, or otherwise any real property located in Indiana.
2. (2) Acquire by grant, purchase, devise, descent, or otherwise any mineral right or water or riparian right on any real property located in Indiana.

3. (3) Enter into a new lease agreement as a lessee for any real property located in Indiana. This subdivision does not apply to a lease agreement to which the following apply:

   1. (A) The real property that is the subject of the lease agreement will be used only for residential purposes.
   2. (B) The lease agreement is for a term of not more than twenty-four (24) months.
4. (4) Enter into a new lease agreement for any mineral right or riparian right on any real property located in Indiana.

As added by P.L.131-2026, SEC.5.