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.

SF 585 modifies how Iowa utilities calculate rates for large-scale energy projects. It establishes new ratemaking rules for electric power generation, energy storage, and transmission facilities over 340 megawatts, including projects that convert coal plants to gas, add carbon capture, or repower existing facilities. The bill explicitly encourages development of nuclear power and innovation programs, creating new tariffs for utility-led projects and setting land restoration standards. It also updates loan programs for energy infrastructure and adds regulations for anaerobic digester systems, affecting utilities planning major facility investments in Iowa.