Indiana Code Title 36. Local Government § 36-7-14-12.4

Sec. 12.4. Notwithstanding any other provision in this chapter, after June 30, 2014:

may not own, lease, or otherwise hold a single family dwelling or condominium unit for purposes of leasing for the use by individuals as a dwelling.  In addition, an arrangement or agreement that is contrary to this section may not be extended beyond the term of the arrangement or agreement as in effect on June 30, 2014.  However, a commission, department, or entity covered by this section may own property in the capacity of a land bank for a unit.