Senate
File
2058
-
Introduced
SENATE
FILE
2058
BY
TAYLOR
A
BILL
FOR
An
Act
relating
to
pipeline
project
investor
disclosures,
1
making
penalties
applicable,
and
providing
effective
date
2
and
retroactive
applicability
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
TLSB
5510XS
(3)
91
sb/js
S.F.
2058
Section
1.
Section
479B.4,
subsection
1,
Code
2026,
is
1
amended
to
read
as
follows:
2
1.
A
pipeline
company
doing
business
in
this
state
shall
3
file
a
verified
petition
with
the
commission
asking
for
a
4
permit
to
construct,
maintain,
and
operate
a
new
pipeline
5
along,
over,
or
across
the
public
or
private
highways,
grounds,
6
waters,
and
streams
of
any
kind
in
this
state.
Any
pipeline
7
company
now
owning
or
operating
a
pipeline
or
underground
8
storage
facility
in
this
state
shall
be
issued
a
permit
by
the
9
commission
upon
supplying
the
information
as
provided
for
in
10
section
479B.5,
subsections
1
through
5
,
section
479B.34,
and
11
meeting
the
requirements
of
section
479B.13
.
12
Sec.
2.
NEW
SECTION
.
479B.34
Investor
disclosures
seeking
13
the
right
of
eminent
domain.
14
1.
For
purposes
of
this
section,
“investor”
means
a
natural
15
person
who
owns
a
beneficial
interest
of
greater
than
one
16
dollar
in
a
planned
pipeline
project,
either
directly
or
17
through
a
business
association,
as
defined
in
section
202B.102.
18
2.
A
pipeline
company
seeking
the
right
of
eminent
domain
19
for
a
pipeline
project
shall
include
in
its
permit
application
20
all
of
the
following:
21
a.
The
names
of
all
planned
pipeline
project
investors.
22
b.
The
home
addresses
of
all
planned
pipeline
project
23
investors.
24
c.
Each
investor’s
range
of
planned
monetary
investment
as
25
follows:
26
(1)
At
least
one
dollar,
but
less
than
ten
thousand
dollars.
27
(2)
At
least
ten
thousand
dollars,
but
less
than
fifty
28
thousand
dollars.
29
(3)
At
least
fifty
thousand
dollars,
but
less
than
one
30
hundred
thousand
dollars.
31
(4)
At
least
one
hundred
thousand
dollars,
but
less
than
32
five
hundred
thousand
dollars.
33
(5)
At
least
five
hundred
thousand
dollars,
but
less
than
34
one
million
dollars.
35
-1-
LSB
5510XS
(3)
91
sb/js
1/
3
S.F.
2058
(6)
Over
one
million
dollars.
1
3.
A
pipeline
company
that
fails
to
accurately
and
fully
2
comply
with
the
disclosures
required
by
this
section
shall
be
3
assessed
a
civil
penalty
of
not
less
than
one
million
dollars
4
by
the
commission,
and
each
resident
of
the
state
of
Iowa
shall
5
have
a
cause
of
action
against
the
pipeline
company
and
the
6
commission
for
all
damages
incurred
by
the
resident
caused
by
7
the
violation.
8
Sec.
3.
EFFECTIVE
DATE.
This
Act,
being
deemed
of
immediate
9
importance,
takes
effect
upon
enactment.
10
Sec.
4.
APPLICABILITY.
This
Act
applies
retroactively
to
11
an
application
to
construct
a
pipeline
submitted
on
or
after
12
July
1,
2019.
13
EXPLANATION
14
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
15
the
explanation’s
substance
by
the
members
of
the
general
assembly.
16
This
bill
relates
to
pipeline
project
investor
disclosures.
17
The
bill
defines
“investor”
as
a
natural
person
who
owns
a
18
beneficial
interest
of
greater
than
$1
in
a
planned
pipeline
19
project,
either
directly
or
through
a
business
association.
20
The
bill
provides
that
a
pipeline
company
seeking
eminent
21
domain
rights
shall
include
investor
information
in
the
22
application
for
a
permit
submitted
to
the
utilities
board.
The
23
permit
application
shall
include
the
names
and
home
addresses
24
of
all
planned
pipeline
investors
and
the
range
of
planned
25
investment
per
investor
as
indicated
in
a
range
from
$l
to
26
$9,999.99,
$10,000
to
$49,999.99,
$50,000
to
$99,999.99,
27
$100,000
to
$499,999.99,
$500,000
to
$999,999.99,
or
$1
million
28
or
over.
29
The
bill
provides
that
if
a
pipeline
company
fails
to
30
accurately
and
fully
comply
with
the
disclosures
required,
31
the
commission
shall
assess
a
civil
penalty
of
not
less
than
32
$1
million.
Additionally,
the
bill
creates
a
cause
of
action
33
for
residents
of
the
state
if
a
violation
occurs
for
all
34
damages
incurred
by
the
resident
due
to
the
violation.
35
-2-
LSB
5510XS
(3)
91
sb/js
2/
3
S.F.
2058
The
bill
takes
effect
upon
enactment.
The
bill
applies
1
retroactively
to
applications
submitted
by
pipeline
companies
2
seeking
the
right
of
eminent
domain
on
or
after
July
1,
2019.
3
-3-
LSB
5510XS
(3)
91
sb/js
3/
3