This bill mandates that electric public utilities must submit a transmission project proposal to the Board of Public Utilities (BPU) for approval before initiating any transmission project. The proposal must include an assessment of the project's potential environmental, scenic, historic, and public safety impacts, a detailed documentation of all associated costs, an evaluation of whether the project meets a demonstrated need through public benefits, and identification of any alternative project ideas that could fulfill the same need at a lower cost. The BPU is required to review the proposal within 90 days and determine if it is reasonable, in the public interest, and cost-effective, ultimately approving it if these criteria are met.

The bill defines a transmission project as any initiative by an electric public utility to construct or modify transmission lines. The intent behind this legislation is to ensure that electric public utilities obtain necessary approvals from the BPU before proceeding with transmission projects, which could lead to reduced costs and more efficient project planning, as highlighted by the testimony of the Director of the Division of Rate Counsel during a legislative committee meeting.