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Read. Follow. Verify.Indiana bill bans public utility sales to private equity and foreign-owned entities
Last action · January 5, 2026: Representative Zimmerman added as coauthorSponsors: Becky Cash and 3 others
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What This Bill Proposed
Indiana House Bill 1186 prohibits public utilities from selling, leasing, transferring, or ing their business, franchise, property, or stock to s or entities linked to designated foreign nations. Under the measure, the Indiana Utility Regulatory Commission is barred from approving such transactions, and any resulting contracts are declared upon passage.
Utility customers and local governments face direct restrictions on corporate ownership changes involving private equity funds and foreign investors from specified countries like China, Iran, North Korea, and Russia.
- The Indiana Utility Regulatory Commission regulates the rates, services, and corporate actions of state public utilities. context
- House Bill 1186 was introduced in the Indiana House of Representatives during the 2026 legislative session. context
Who It Would Have Affected
Groups the bill's text would have affected, as described in the record. Being affected is not a position for or against it.
public utilities
Public utilities are prohibited from transferring franchises, business, property, or stock to private equity firms or specified foreign entities.
private equity firms
Private equity firms and their affiliates are barred from purchasing or acquiring public utilities, utility property, or utility stock.
Indiana Utility Regulatory Commission
The commission is legally barred from approving utility transactions involving prohibited persons.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
Who is classified as a prohibited person under House Bill 1186?
Can the Indiana Utility Regulatory Commission approve a utility sale to a private equity firm?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
This bill did not become law - Died at adjournment · in House committee.
Procedural history
4 actions- Jan 5, 2026HouseRepresentative Zimmerman added as coauthor
- Jan 5, 2026HouseIntroducedFirst reading: referred to Committee on Utilities, Energy and Telecommunications
- Jan 5, 2026HouseCoauthored by Representatives Culp, Sweet
- Jan 5, 2026HouseAuthored by Representative Cash
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Expanded Utility Ownership Restrictions
The bill introduces strict categorical bans on utility asset and stock transfers to private equity and designated foreign entities, altering standard commission approval processes.
Connected Entities
Sources
iga.in.gov
Analysis Score
0–100- Significance20Lowered because this bill did not pass (its text scored 75)
- Controversy65Intensity of disagreement among stakeholders
- Entertainment10Compellingness for a non-policy-wonk reader
- Buzz40Current news / social attention level
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