Interstate Transmission Act

Summary

Interstate Transmission Act- Amends the Federal Power Act to direct the Federal Energy Regulatory Commission (FERC) to establish transmission pricing policies and standards for promoting the expansion of interstate transmission networks through incentive-based, performance-based, participant-funded, and/or cost-based rate treatments to ensure reliability of the electric system, to support interstate wholesale markets for electric power, and to expand transmission transfer capacity needed for wholesale competition. Grants FERC jurisdiction over Electric Reliability Organizations certified by FERC to establish and enforce reliability standards for the bulk-power system. Exempts Hawaii and Alaska from application of this Act. Repeals the requirement for FERC prior authorization of the disposition of public utility facilities. Authorizes FERC to promote voluntary development of regional transmission organizations, independent transmission providers, and similar organizations in order to enhance electric energy transmission in interstate commerce. Creates State and Federal authority to site transmission facilities. Amends the Public Utility Holding Company Act to exclude from its purview a multistate independent transmission company or any action to otherwise affect such an organization. Amends the Internal Revenue Code to treat as an involuntary conversion, for which no gain shall be recognized for capital gains tax purposes, any disposition to an independent transmission company of property, stock, or partnership interest in an entity whose principal trade or business provides electric transmission services, if the transaction is meant to implement FERC or State electric restructuring policy.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 19 March 2003

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• Introduced in House (PDF)

  Introduced in House · EN · 19 March 2003

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• Introduced in House

  summary · EN · 19 March 2003

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