Rental rate increase control.

Prohibits a landlord from increasing the gross rental rate for certain rental units more than the lesser of: (1) 5%, plus the percentage cost of living increase; or (2) 10%; of the lowest gross rental rate charged for the rental unit during the 12 months prior to the effective date of the increase. Prohibits a landlord from increasing the gross rental rate in more than two increments over a 12 month period. Requires the legislative services agency to submit a report to the general assembly not later than July 1, 2030, analyzing the impact of the rental rate cap on the housing market in Indiana.