This bill amends Section 291 of Title 17 of the Oklahoma Statutes to introduce new definitions and requirements related to electric transmission facilities. Key insertions include the definition of a "Certificate of Authority," which is necessary for transmission developers to commence any electric transmission facility projects. The bill outlines the application process for obtaining this certificate, detailing the information that must be provided, such as the developer's contact information, a description of the proposed routes, and environmental impact assessments. Additionally, it mandates public notice and meetings, insurance requirements, and the submission of a decommissioning plan.

The bill also specifies exemptions for existing electric transmission facilities, stating that Oklahoma retail electric suppliers or rural electric cooperatives do not need a Certificate of Authority for extensions or upgrades within their service areas. It establishes a timeline for the Commission to issue a Certificate of Authority, stipulating that if the Commission fails to act within 90 days of a completed application, the certificate will be deemed granted. The bill includes provisions for the assessment of filing fees and emphasizes the importance of public safety and environmental considerations in the development of electric transmission facilities. An emergency clause is included, allowing the act to take effect immediately upon passage.