Bill
Bill > SF2058
IA SF2058
IA SF2058A bill for an act relating to pipeline project investor disclosures, making penalties applicable, and providing effective date and retroactive applicability provisions.
summary
Introduced
01/15/2026
01/15/2026
In Committee
01/15/2026
01/15/2026
Crossed Over
Passed
Dead
Introduced Session
91st General Assembly
Bill Summary
This bill relates to pipeline project investor disclosures. The bill defines “investor” as a natural person who owns a beneficial interest of greater than $1 in a planned pipeline project, either directly or through a business association. The bill provides that a pipeline company seeking eminent domain rights shall include investor information in the application for a permit submitted to the utilities board. The permit application shall include the names and home addresses of all planned pipeline investors and the range of planned investment per investor as indicated in a range from $l to $9,999.99, $10,000 to $49,999.99, $50,000 to $99,999.99, $100,000 to $499,999.99, $500,000 to $999,999.99, or $1 million or over. The bill provides that if a pipeline company fails to accurately and fully comply with the disclosures required, the commission shall assess a civil penalty of not less than $1 million. Additionally, the bill creates a cause of action for residents of the state if a violation occurs for all damages incurred by the resident due to the violation. The bill takes effect upon enactment. The bill applies retroactively to applications submitted by pipeline companies seeking the right of eminent domain on or after July 1, 2019.
AI Summary
This bill requires pipeline companies seeking the right of eminent domain, which is the government's power to take private property for public use, to disclose detailed information about their investors in their permit applications to the utilities board. An "investor" is defined as any natural person who has a beneficial interest of more than one dollar in a planned pipeline project, either directly or through a business association. The required disclosures include the names and home addresses of all planned investors, as well as the range of their planned investment, categorized into specific dollar amounts from under $10,000 to over $1 million. Failure by a pipeline company to accurately and fully provide these disclosures will result in a civil penalty of at least $1 million, and any resident of the state can sue the company and the board for damages incurred due to such a violation. This bill takes effect immediately upon enactment and applies retroactively to applications submitted for pipeline construction on or after July 1, 2019.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Subcommittee: Bousselot, Knox, and Webster. S.J. 159. (on 01/28/2026)
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://www.legis.iowa.gov/legislation/BillBook?ga=91&ba=SF2058 |
| BillText | https://www.legis.iowa.gov/docs/publications/LGI/91/attachments/SF2058.html |
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