Indiana Code Title 8. Utilities and Transportation § 8-15.7-9-2

(1) the lease is not required to comply with IC 8-14.5-5-3(a)(1); and

(2) notwithstanding IC 8-14.5-5-2(a)(2), a lease under this chapter may be extended from biennium to biennium, with the extensions not to exceed a lease term of seventy-five (75) years unless the department gives notice of nonextension at least six (6) months before the end of the biennium, in which event the lease expires at the end of the biennium in which the notice is given.