Sec. 1. The purposes of this chapter are to:
(1) fulfill the requirements to be met by the state under the federal Abandoned Shipwreck Act of 1987; and
(2) provide special protection in perpetuity for abandoned property and features and formations in:
(A) Lake Michigan; or
(B) the Ohio River;
that have historical, archeological, recreational, ecological, geological, environmental, educational, scenic, or scientific value.