After continued speculation (LINK), Governor Reynolds has called a special session of the Iowa Legislature to consider changes to certain economic development incentives. The announcement follows President Trump’s announcement on Monday that Mesabi Metallics intends to invest $15 billion to develop a steel mill in southeast Iowa (LINK).
Lawmakers will convene on Friday, October 2, 2026, for “the sole and singular purpose of enacting amendments to the state’s Major Economic Growth Attraction (MEGA) program” pursuant to the Proclamation Governor Reynolds issued in accordance with Article IV, Section 11, and Article III, Section 2, of the Constitution of the State of Iowa. Reynolds’ Proclamation includes the specific modifications we anticipate the legislature will seek to enact this Friday.
Given the high profile of this project, as well as the fast-approaching midterm elections, we anticipate this process will move quickly. Legislative leadership will likely seek to limit the session to a single day of activity. Regardless of the length of duration, our team will be at the Capitol closely monitoring all proceedings and any related legislative activity.
Although a special session is generally called for the purpose identified in the Governor’s proclamation, we will remain attentive to any additional policy proposals, amendments, or procedural developments that may arise during the session.