1. (a) Subject to IC 36-1-3-8.5 , this section does not apply to privately owned real property for which government funds or benefits have been allocated from the United States government, the state, or a political subdivision for the express purpose of providing reduced rents to low or moderate income tenants.

2. (b) A unit (as defined in IC 36-1-2-23 ) may not regulate rental rates for privately owned real property, through a zoning ordinance or otherwise, unless the regulation is authorized by an act of the general assembly.

   [Pre-2002 Recodification Citation: 32-7-1-19.]

As added by P.L.2-2002, SEC.16. Amended by P.L.266-2017, SEC.1.