This bill mandates that electric public utilities in New Jersey must apply to the Board of Public Utilities (BPU) for a certificate of public convenience and necessity before initiating any transmission projects. The application must include information deemed necessary by the BPU and an application fee determined by the board. The bill outlines that the BPU must issue a decision on the application within 150 days, with the possibility of a 75-day extension if deemed in the public interest. The BPU's approval will depend on several criteria, including the necessity of the project for reliable service, the utility's capability to manage construction, and the financial implications for the utility and its customers.

Additionally, the bill defines a "transmission project" as the construction of new transmission lines or modifications to existing ones, excluding projects already approved by PJM Interconnection, L.L.C. The BPU is also tasked with adopting necessary rules and regulations for implementing this legislation, including establishing the application process and determining the application fee. This act is set to take effect immediately upon passage.