Indiana HB1186 restricts public utilities from selling or transferring assets or stock to certain entities.

HB1186 amends Indiana Code to restrict public utilities from selling, assigning, transferring, leasing, or encumbering their franchise, works, system, or stock to prohibited persons. A "prohibited person" includes private equity firms or affiliates, and entities from China, Iran, North Korea, Russia, or countries designated as threats to critical infrastructure. The Indiana Utility Regulatory Commission cannot approve such transactions, and any contracts for these transactions are void. The restrictions apply to transactions occurring after February 27, 2026.

Indiana HB1186 restricts public utilities from selling or transferring assets or stock to certain entities.

HB1186 amends Indiana Code to restrict public utilities from selling, assigning, transferring, leasing, or encumbering their franchise, works, system, or stock to prohibited persons. A "prohibited person" includes private equity firms or affiliates, and entities from China, Iran, North Korea, Russia, or countries designated as threats to critical infrastructure. The Indiana Utility Regulatory Commission cannot approve such transactions, and any contracts for these transactions are void. The restrictions apply to transactions occurring after February 27, 2026.