Bill No. 279 establishes new regulations for electric transmission developers in Oklahoma, requiring them 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. This includes details about the proposed facility, its route, and the environmental and public safety considerations. Additionally, the bill mandates that developers notify relevant stakeholders, including county commissioners and landowners, and hold public meetings to discuss the project.

The bill also stipulates that the Corporation Commission must approve any transfer of ownership of the electric transmission facility and sets a timeline for the approval process, requiring a decision within 200 days of the application submission. If the Commission fails to act within this timeframe, the certificate is automatically granted. Furthermore, the bill allows the Commission to assess a filing fee for the application, capped at $1,000, and authorizes the promulgation of rules to implement these provisions. An emergency clause is included, allowing the act to take effect immediately upon passage and approval.