IL HB5234

Creates the Transmission Efficiency and Cooperation Law as Article XXIII of the Public Utilities Act, establishing rights for incumbent electric transmission owners.

Grants incumbent electric transmission owners the right to construct, own, and maintain transmission lines approved in a regional transmission operator's transmission plan that connect to their existing facilities under functional control of a regional transmission operator.

For transmission lines connecting to facilities owned by multiple incumbent electric transmission owners, ownership rights are divided individually and proportionally based on each owner's retail service territory location, unless otherwise agreed in writing.

Permits incumbent electric transmission owners to assign their construction and ownership rights to a transmission affiliate holding a certificate of public convenience and necessity.

Allows incumbent electric transmission owners to notify the Illinois Commerce Commission within 90 days that they will not construct the approved transmission line, and grants the Commission authority to approve construction by another qualified entity.