Adopts the interstate electric transmission line siting compact to simplify and standardize the application and filing process; create a transparent and streamlined process for review and decision making; allow states to consider regional benefits; minimize impediments and delays to the siting of interstate transmission lines; promote regional collaborative decision-making on line siting while providing the opportunity for public review and comments regarding the application; and create a forum for federal agencies and tribes to become part of the siting review process simultaneously with states.   Official Text and Analysis.