Senate Bill 28 aims to modify the rights and responsibilities of incumbent transmission facility owners regarding the construction, ownership, and maintenance of regionally cost-shared transmission lines approved by the Midcontinent Independent System Operator (MISO). The bill establishes that an incumbent transmission facility owner, which includes transmission companies or utilities regardless of their principal place of business, has the right to construct and maintain transmission facilities that connect to their existing infrastructure. It also stipulates that if multiple owners are involved, the rights to the transmission facility are shared proportionally unless otherwise agreed upon. Additionally, the bill requires these owners to notify the Public Service Commission (PSC) of their intent to construct a line within 90 days of MISO's approval and to provide detailed cost estimates and quarterly updates during construction.

The bill includes specific definitions for terms such as "regionally cost-shared transmission line" and outlines the procedures for the PSC to follow if an incumbent owner decides not to proceed with construction. It mandates that the owner must explain their decision, allowing the PSC to determine who will construct the line based on various factors. Furthermore, the bill requires the incumbent owner to report on costs charged to energy consumers outside the state. Notably, the rights and responsibilities established by this bill will sunset after ten years, as indicated by the provisions for repeal included in the text.