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 these transmission lines that connect to their existing facilities. It also stipulates that if multiple owners are involved, the rights to the transmission line are shared proportionally unless otherwise agreed upon. The bill requires these owners to notify the Public Service Commission (PSC) of their intent to construct within 90 days of MISO's approval or the bill's enactment, and if they choose not to proceed, they must provide a detailed explanation.

Additionally, the bill mandates that incumbent transmission facility owners submit cost estimates for construction based on competitive bidding and provide quarterly updates to the PSC until the project is completed. They are also required to report on costs charged to energy consumers outside the state. The rights and responsibilities outlined in this bill will sunset after ten years. The bill includes the creation and subsequent repeal of specific legal language related to these provisions, ensuring that the framework for managing regionally cost-shared transmission lines is clearly defined and regulated.