1. (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. (1) fair market value;
   2. (2) market capitalization; or

   3. (3) total voting rights;

      of the Indiana media entity must file a report with the secretary of state disclosing the foreign ownership.

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

   1. (1) the percentage of foreign ownership;
   2. (2) the name of each foreign owner;
   3. (3) the country of origin of each foreign owner; and

   4. (4) 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.

As added by P.L.132-2025, SEC.1.