This bill establishes new regulations for electric transmission development in Oklahoma, specifically requiring transmission developers to obtain a certificate of authority from the Corporation Commission before commencing any electric transmission facility projects. The bill defines key terms such as "certificate of authority," "electric transmission facility," and "transmission developer," and outlines the necessary contents of the application for the certificate. It mandates that the application includes detailed information about the proposed facility, including maps, contact information, and environmental impact assessments. Additionally, the bill stipulates that the Corporation Commission must approve any transfer of ownership of the electric transmission facility.

The legislation also includes provisions for public notification and engagement, requiring developers to publish notices and hold public meetings in affected counties. It establishes a timeline for the Corporation Commission to issue a decision on the application, stating that failure to do so within 200 days will result in automatic approval. Furthermore, the bill allows the Corporation Commission to assess a filing fee for the application, capped at $1,000, and grants the Commission the authority to create rules to implement these provisions. An emergency clause is included, allowing the act to take effect immediately upon passage and approval.