Senate utilities committee advances HB 1007 to speed large‑load projects, offer SMR incentives amid debate over ratepayer risk

A Senate utilities committee on Thursday moved House Bill 1007 forward to the Tax and Fiscal Committee after passing amendments and a floor motion to recommit. The bill would create a framework to support small modular nuclear reactors (SMRs), speed approvals for generation added to meet large industrial or data‑center customers, and allow utilities to recover certain development costs as projects advance.

Representative Soliday, the bill’s principal presenter, said the bill includes a construction‑in‑progress style mechanism intended to lower utilities’ financing costs during construction and to share some risk with customers. “Quip does not throw all of the risk on the consumer. It does not,” Soliday said, describing an 80/20 structure that limits automatic recovery if a project fails and directs the Indiana Utility Regulatory Commission (IURC) to judge prudence in any rate case.

Why it matters: supporters said the bill helps Indiana compete for large manufacturers and data centers by offering predictable timelines and tools for utilities to add capacity. Opponents said it shifts too much financial risk to ratepayers, risks subsidizing unproven SMR technology and could delay or complicate plant retirements.

Key provisions

- SMR incentives and manufacturing tax credit: HB 1007 authorizes a 20% sales‑tax credit for in‑state manufacture of SMR components intended to make Indiana a competitive site for SMR factories. Soliday noted SMR factories are factory‑built and shipped to sites, and cited Purdue research and industry…