A bill for an act relating to energy systems by modifying electric power generation, energy storage, and transmission facility ratemaking principles, creating tariffs for public utility innovation programs, implementing land restoration standards, including right of first refusal, modifying the energy infrastructure revolving loan program, and creating regulations for anaerobic digester systems, making appropriations, providing penalties, and including effective date and applicability provisions.

HB 123 modifies how Iowa utilities set prices for new or significantly upgraded electricity generation, storage, and transmission facilities. It establishes new rules for approving large projects (340+ MW or major retrofits like carbon capture) and requires commission approval based on public interest, economic development, and avoiding facility duplication. The bill also creates land restoration standards for utility projects with landowner "right of first refusal," sets new regulations for anaerobic digester systems, and adjusts a revolving loan program for energy infrastructure. It does not change utility rates directly but affects how costs for qualifying projects are included in future rate calculations.