Declares an intent to create a regional process for the siting of new electric transmission lines related to the national energy policy act of 2005. This regional process will facilitate the siting of new cross borders electric transmission lines by providing a "one stop" licensing process. This act calls for the creation of a legislative task force to establish an interstate compact to assert jurisdiction over national interest electric transmission corridors.

Directs the task force to report its preliminary recommendations on the compact to the appropriate committees of the legislature by January 1, 2008.

Directs the task force to report its final recommendations on the compact to the appropriate committees of the legislature by September 1, 2008.