Companion bills proposed by Gov. Kim Reynolds in Iowa aim to enhance energy generation, transmission, and storage projects while focusing on water infrastructure development. The legislation, undergoing review in the state House and Senate, advocates for exploring nuclear power through small modular reactors (SMR) to ensure a reliable baseload energy source. The bills propose changes in the regulation and funding of energy projects, fostering the development of nuclear electric power generation within the state. The legislation also introduces a tariff for public utility 'innovation' programs, enabling special ratemaking for customers to fund new power generation assets. Additionally, the bill expands Iowa's energy infrastructure loan fund to include water projects and shifts oversight to the Iowa Economic Development Authority. The bills aim to facilitate economic growth by lowering the threshold for utilities seeking special ratemaking procedures and could potentially attract large industrial projects and data centers to the state. While some environmentalists have expressed concerns about nuclear energy's impact, the legislation reflects a positive sentiment towards diversifying Iowa's energy mix. The proposal aligns with Iowa's goal of promoting economic development through energy infrastructure, responding to the increasing demand for electricity in sectors like data centers and industrial manufacturing. The focus on nuclear power and other renewable energy sources underscores the state's commitment to sustainable energy solutions amidst evolving economic needs.