A bill for an act establishing procedures for system enhancement of infrastructure, including for development of ratemaking principles permitted for recovery costs of certain investments in infrastructure by water and wastewater utilities.

SSB 3068 allows Iowa water and wastewater utilities to recover costs for specific infrastructure improvements through new "system enhancement charges" after approval from the Iowa Utilities Commission. It directly affects investor-owned utilities providing regulated water and wastewater services, requiring them to submit multiyear plans for projects that improve resilience, safety, or environmental protection (e.g., replacing aging infrastructure or complying with federal regulations). Utilities must prove these projects meet defined criteria, including cost estimates and compliance benefits, before the Commission approves the charges. The bill excludes fines/penalties from recoverable costs and establishes a process for annual rate adjustments based on approved plans.