Sec. 21. (a) This section applies to rental agreements entered into or renewed after June 30, 2009, for residential, agricultural, and commercial property.
(b) If the lowest floor of a structure, including a basement, that is the subject of a rental agreement is at or below the one hundred (100) year frequency flood elevation, as determined by:
(1) the department of natural resources;
(2) the Federal Emergency Management Agency's (FEMA) Flood Insurance Rate Maps; or
(3) FEMA approved local flood plain maps;
the landlord shall clearly disclose in a landlord-tenant rental agreement that the structure is located in a flood plain.