Ind. Code § 14-27-7.5-8

(5) may vary the standards for permits, maintenance, and operation, giving due consideration to the following: (A) The type, condition, and location of the structure. (B) The hazards to which the structure is or may be exposed. (C) The likely peril to life or serious damage to property if the structure fails to perform the structure's function. (b) The department shall establish by rule the criteria for assigning a hazard classification system to a structure that is based on the height of the structure, the volume of water impounded by the structure, and the force of the water resulting from the uncontrolled release of the structure's contents due to a failure of the structure. The hazard classification system must include the following classes of structures: (1) High hazard: A structure the failure of which is likely to cause the loss of life and serious damage to homes, industrial and commercial buildings, public utilities, major highways, or railroads. (2) Significant hazard: A structure the failure of which is likely to damage isolated homes and highways, or cause the temporary interruption of public utility services. (3) Low hazard: A structure the failure of which is likely to damage farm buildings, agricultural land, or local roads. (c) For a dam constructed after June 30, 2022, if the department determines that the property owner's structure is a high hazard, significant hazard, or low hazard dam, the department shall provide the property owner with a notice stating the classification of the dam that the property owner owns.