summary
Introduced
01/12/2026
01/12/2026
In Committee
01/12/2026
01/12/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
Private credit funds. Provides that after June 30, 2026, the responsible party or fund manager for a private credit fund (fund) shall deliver to: (1) an Indiana investor that has invested capital in the fund; and (2) the securities commissioner (commissioner); an investor report on at least a quarterly basis. Sets forth certain disclosures that an investor report must include. Provides that any investment information that is delivered or communicated to an Indiana investor after June 30, 2026, may not include language that positively describes the fund's risk profile unless a disclaimer is provided or the fund's assets are rated by an outside credit rating agency. Provides that the responsible party or fund manager for a fund shall, upon the written request of an Indiana investor or the commissioner, make available in writing the fund manager's policies with respect to specified investment and management practices. Requires the commissioner to adopt rules to implement and administer these provisions. Authorizes the commissioner to use any lawful means within the commissioner's authority to enforce these provisions.
AI Summary
This bill, effective July 1, 2026, requires the responsible party or fund manager of a private credit fund—which pools money to lend directly to private businesses, often those that don't qualify for traditional bank loans—to provide quarterly investor reports to Indiana investors and the securities commissioner. These reports must include detailed financial performance, loan portfolio information, fee structures, and leverage levels. The bill also prohibits investment information from positively describing a fund's risk profile unless a disclaimer is included or the fund's assets are rated by an external agency. Furthermore, fund managers must provide written policies on valuation, liquidity, credit risk, default management, and conflicts of interest upon request from an Indiana investor or the commissioner. The securities commissioner is tasked with creating rules to implement and enforce these provisions, with the attorney general providing assistance.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Senate Insurance and Financial Institutions Hearing (09:30:00 1/21/2026 Room 130) (on 01/21/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://iga.in.gov/legislative/2026/bills/senate/279/details |
| BillText | https://iga.in.gov/pdf-documents/124/2026/senate/bills/SB0279/SB0279.01.INTR.pdf |
| Fiscal Note #1: Introduced | https://iga.in.gov/pdf-documents/124/2026/senate/bills/SB0279/fiscal-notes/SB0279.01.INTR.FN001.pdf |
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