IA HF404

Establishes a community solar facility program allowing customers of rate-regulated electric utilities to subscribe to solar generation facilities and receive bill credits proportional to their subscription size

Community solar facilities must generate no more than 5 megawatts (or up to 20 megawatts if located on brownfield sites), have at least 3 subscribers, with no single subscriber holding more than 40% interest and at least 60% of capacity subscribed in portions of 40 kilowatts or less

Requires electric utilities to provide bill credits for at least 25 years from facility operation date, with excess credits carrying over monthly in perpetuity; subscriber organizations must provide periodic subscriber lists to utilities

Mandates decommissioning requirements including removal of equipment to 3 feet below grade, restoration of property, and financial assurances (bond, parent company guaranty, or letter of credit) equal to decommissioning costs minus salvage value

Requires the Iowa Utilities Commission to adopt implementation rules and electric utilities to file new or updated tariffs by January 1, 2026