Indiana would bar utility sales to certain buyers if enacted

If enacted, public utilities would be barred from selling, transferring, leasing, or pledging covered property, or selling or transferring shares, to a prohibited person. A prohibited person includes a private equity firm or its affiliate. It also covers citizens of, and companies owned or controlled by or headquartered in, China, Iran, North Korea, Russia, or a country the governor designates as a threat to critical infrastructure. The commission would be barred from approving a covered transaction, and a contract for one would be void. The restriction would not apply to stock lawfully held before February 28, 2026, or a covered transaction lawfully completed before that date. If enacted, the restriction would take effect upon passage and cover transactions after February 27, 2026.