IA SSB1113

Grants incumbent electric transmission owners (entities owning transmission lines in Iowa as of July 1, 2024) the right of first refusal to construct, own, and maintain new transmission lines that connect to their existing facilities when approved by federally registered planning authorities

Requires incumbent transmission owners to offer public power utilities the opportunity to jointly own a portion of new transmission lines based on their load ratio share, with written agreements required for joint ownership arrangements

Establishes detailed agricultural land restoration requirements following transmission line construction, including drain tile repair, rock removal, deep tilling (18 inches for crop land, 12 inches for other land), and soil conservation structure restoration

Mandates cost accountability measures requiring incumbent transmission owners to submit construction cost estimates to the Iowa Utilities Commission within 30 days of franchise issuance, with quarterly updates and documentation of competitively bid contracts

Takes effect upon enactment and applies retroactively to transmission lines in federally registered planning authority long-term plans approved on or after July 1, 2020, except joint ownership provisions which apply retroactively to July 1, 2024