The bill amends Section 42-98-1.1 of the Energy Facility Siting Act to establish a "Capital city underground utility initiative" aimed at facilitating the underground construction of portions of the E-183 electric transmission line in Providence and East Providence. It highlights the historical context of the project, including the cities' decision in 2004 to forgo customer credits from The Narragansett Electric Company to fund the underground alignment, which has yet to be realized. The bill seeks legislative authorization to secure funding for the incremental costs of burying parts of the transmission line, particularly along the southern shore of Fox and India Points and in East Providence. Key provisions allow the cities to apply their pro rata share of customer refunds towards the project and grant the public utilities commission the authority to modify the project license without meeting certain prior requirements.

Additionally, the bill modifies property transfer procedures by removing previous language regarding the retention of properties acquired for the underground alignment. Instead, it mandates that the cities acquire and convey necessary property rights to the utility company at no cost. It also stipulates that any easements no longer needed after the completion of the new Bridge Alignment South-Hybrid will be returned to the respective city upon request without additional costs. The bill ensures that any additional costs incurred beyond the funding obtained will be included in the electric rates charged to customers in Providence and East Providence, with a structured approach to rate adjustments and a review process for compliance. The act will take effect upon passage.