(Des Moines) The Iowa Utilities Board met with Iowa’s rate-regulated utilities Friday to
discuss possible actions that can be taken to reduce the impact of increased natural gas
and electric costs on customers as a result of February’s severe weather.
The utilities presented information on recovery costs, a proposed time period for
recovery, and whether they will seek waivers of any IUB rules. Although the IUB does
not regulate the rates of Iowa’s rural electric cooperatives or municipal utilities, the Iowa
Association of Electric Cooperatives and the Iowa Association of Municipal Utilities were
also in attendance and discussed what their members are facing.
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Bill would exempt Iowa public utilities from tax to decrease customers’ rates by Mary Stroka, The Center Square | February 22, 2021 11:00 AM Print this article
Private corporations that provide water, sanitary sewage or storm water drainage service to the public may be exempt from state corporate income taxes.
Bills currently considered by Iowa legislators would grant the tax exemption to corporations that provide the above services by piped distribution or collection system.
Customers would be entitled to resulting cost reductions, according to
HF 607, which was introduced Feb. 18. Companion bill
SF 297 was in a Ways and Means subcommittee as of Feb. 16.
“The agreement is, if we were to exempt the corporate income tax because they are acting as a public utility, that that savings for them would not be their profit, but would actually, penny for penny, go back to the consumer, so that should lower the water bills for the people who