Required disclosures and access of foreign media., the official text

First Regular Session of the 124th General Assembly (2025)

PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
Constitution) is being amended, the text of the existing provision will appear in this style type,
additions will appear in this style type, and deletions will appear in this style type.

 Additions: Whenever a new statutory provision is being enacted (or a new constitutional
provision adopted), the text of the new provision will appear in this style type. Also, the
word NEW will appear in that style type in the introductory clause of each SECTION that adds
a new provision to the Indiana Code or the Indiana Constitution.
 Conflict reconciliation: Text in a statute in this style type or this style type reconciles conflicts
between statutes enacted by the 2024 Regular Session of the General Assembly.

  SENATE ENROLLED ACT No. 318

   AN ACT to amend the Indiana Code concerning trade regulation.

   Be it enacted by the General Assembly of the State of Indiana:

   SECTION 1. IC 24-4-25.5 IS ADDED TO THE INDIANA CODE
AS A NEW CHAPTER TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2025]:

   Chapter 25.5. Foreign Media Ownership
   Sec. 1. As used in this chapter, "foreign entity" means:

      (1) a foreign government;
      (2) one (1) or more individuals who are not United States
      citizens or permanent residents;
      (3) an organization that:

         (A) is an instrumentality of; or
         (B) is controlled by;
      a foreign government; or
      (4) an organization with regard to which five percent (5%) or
      more of the:
         (A) fair market value;
         (B) market capitalization; or
         (C) total voting rights;
      are owned by a foreign government, by an individual
      described in subdivision (2), by an organization described in
      subdivision (3), or by any other entity organized under the
      laws of a foreign government.
   Sec. 2. As used in this chapter, "foreign government" means the

SEA 318 — Concur
                                    2

government, or an agent or a political subdivision of the
government, of a country, nation, or group of nations other than:

      (1) the United States; or
      (2) a state, territory, or protectorate of the United States.
   Sec. 3. As used in this chapter, "foreign ownership" means an
ownership interest (including voting rights) in an Indiana media
entity that is held or controlled by a foreign entity. However, the
term does not include an ownership interest derived solely from
holding publicly traded securities of a media entity.
   Sec. 4. As used in this chapter, "funding" means:
      (1) income; or
      (2) a monetary or in-kind contribution or donation.
   Sec. 5. As used in this chapter, "Indiana media entity" means a
media entity that:
      (1) has a physical presence in Indiana; or
      (2) receives income from one (1) or more subscribers located
      in Indiana.
   Sec. 6. As used in this chapter, "media entity" means one (1) or
more of the following:
      (1) A newspaper of general circulation in Indiana.
      (2) A broadcaster serving Indiana.
      (3) A website that provides news, commentary, or discussion
      concerning political matters to Indiana residents.
      (4) Any other source of news or information that provides
      news, commentary, or discussion concerning political matters
      to Indiana residents.
   Sec. 7. (a) Before December 31, 2025, and before December 31
of each year thereafter, an Indiana media entity with foreign
ownership that is equal to or greater than five percent (5%) of the:
      (1) fair market value;
      (2) market capitalization; or
      (3) total voting rights;
of the Indiana media entity must file a report with the secretary of
state disclosing the foreign ownership.
   (b) An Indiana media entity required to make a report under
subsection (a) shall include in the report:
      (1) the percentage of foreign ownership;
      (2) the name of each foreign owner;
      (3) the country of origin of each foreign owner; and
      (4) any other relevant information required by the secretary
      of state.
The Indiana media entity shall publish the most recent copy of the

SEA 318 — Concur
                                    3

report on the entity's website not later than seven (7) days after the
report is filed with the secretary of state.

   Sec. 8. (a) Before December 31, 2025, and before December 31
of each year thereafter, an Indiana media entity that has received
at least ten thousand dollars ($10,000) in funding, in aggregate,
from one (1) or more foreign entities must file a report with the
secretary of state disclosing the funding.

   (b) An Indiana media entity required to make a report under
subsection (a) shall include in the report:

      (1) the total amount of the funding;
      (2) the name of each foreign entity that provided funding and
      the amount of funding provided;
      (3) the country of origin of each foreign entity;
      (4) the purpose of the funding and how the funding was used;
      and
      (5) any other relevant information required by the secretary
      of state.
The Indiana media entity shall publish the most recent copy of the
report on the entity's website not later than seven (7) days after the
report is filed with the secretary of state.
   Sec. 9. An Indiana media entity required to make a report under
sections 7 and 8 of this chapter may file one (1) report that includes
all of the information required under sections 7 and 8 of this
chapter.
   Sec. 10. An Indiana media entity that publishes or broadcasts
content:
      (1) sourced from; or
      (2) influenced by;
a foreign entity must include the name of the foreign entity in the
publication or broadcast.
   Sec. 11. (a) The secretary of state shall conduct regular audits
to ensure that an Indiana media entity complies with the
requirements of this chapter.
   (b) The secretary of state shall publish a list of Indiana media
entities that have complied with the requirements of this chapter
on the secretary of state's website.
   (c) The secretary of state may impose a civil penalty of not more
than fifty thousand dollars ($50,000) on an Indiana media entity
that knowingly or intentionally fails to comply with the disclosure
and reporting requirements of this chapter.
   Sec. 12. (a) This section applies to an Indiana media entity that:
      (1) is required to make a report under section 7 or 8 of this

SEA 318 — Concur
                                    4

      chapter; or
      (2) has been sanctioned by the secretary of state under section
      11 of this chapter.
   (b) A person to which this section applies must obtain special
accreditation from the Indiana department of administration to
attend a state government media event.
   (c) The Indiana department of administration shall establish
criteria for granting special accreditation under subsection (b). In
determining whether to grant special accreditation, the department
shall consider whether an Indiana media entity is included on the
secretary of state's published list described in section 11(b) of this
chapter.
   (d) The Indiana department of administration may revoke
special accreditation if a person to which this section applies has:
      (1) failed to comply with the requirements of this chapter; or
      (2) been removed from the secretary of state's published list
      of compliant media entities.

SEA 318 — Concur
President of the Senate

President Pro Tempore

Speaker of the House of Representatives

Governor of the State of Indiana

Date:                             Time:

SEA 318 — Concur