This bill would amend federal law to give states a veto over new electric transmission lines. Currently, the Federal Energy Regulatory Commission can approve interstate electric transmission projects even if a state objects, but this legislation would prohibit the Commission from issuing permits whenever a state with authority over the siting denies or is reviewing an identical or substantially similar application. The bill also adds new requirements that transmission projects must minimize adverse effects on farmers and landowners, provide adequate compensation for any harms, and deliver consumer benefits that exceed the damage caused to agricultural interests. Additionally, the legislation requires the Federal Energy Regulatory Commission to submit annual reports to Congress detailing all transmission decisions and describing how impacts on farmers and private landowners were addressed. The bill would take effect upon enactment and has no specific funding provisions, though the reporting requirement begins one year after passage.