This bill amends existing laws regarding pipeline project investor disclosures in Iowa. It defines an "investor" as a natural person with a beneficial interest of over one dollar in a planned pipeline project, either directly or through a business association. Pipeline companies seeking the right of eminent domain must include specific investor information in their permit applications, such as the names and home addresses of all investors, as well as the range of their planned monetary investments categorized into various brackets.

Furthermore, the bill imposes a civil penalty of at least one million dollars on pipeline companies that fail to comply with these disclosure requirements. It also grants residents of Iowa the right to take legal action against the pipeline company and the commission for any damages incurred due to such violations. The bill is effective immediately upon enactment and applies retroactively to applications submitted on or after July 1, 2019.

Statutes affected:
Introduced: 479B.4