Sec. 1. (a) Except as provided in subsection (b), this chapter applies to:
(1) political subdivisions; and
(2) their agencies.
(b) This chapter does not apply to the purchase of:
(1) real property having a total price (including land and structures, if any) of twenty-five thousand dollars ($25,000) or less;
(2) airport land or structures under IC 8-22;
(3) library land or structures under IC 36-12;
(4) school land or structures under IC 20-47;
(5) hospital land or structures by a hospital or health and hospital corporation established and operated under IC 16-22 or IC 16-23;
(6) land or structures acquired for a road or street right-of-way for a federal-aid project funded in any part under 23 U.S.C. 101 et seq.;
(7) land or structures by redevelopment commissions under IC 36-7-14 or IC 36-7-15.1, or redevelopment authorities under IC 36-7-14.5;
(8) land by a municipally owned water utility, if:
(A) the municipally owned water utility has performed or contracted with another party to perform sampling and drilling tests of the land; and
(B) the sampling and drilling tests indicate the land has water resources; or
(9) land or structures acquired for railroad right-of-way or other railroad purposes for a federal aid project funded in any part under 49 U.S.C. 103 et seq.