This bill streamlines the federal approval process for major electric transmission projects by giving the Department of Energy authority to designate certain large transmission facilities as "national interest high-impact transmission facilities," which can then receive permits from the Federal Energy Regulatory Commission. To qualify, a project must cross at least two states or one state and the ocean, add at least 750 megawatts of transmission capacity, operate at high voltage levels, and demonstrate it serves the national interest and reliably supports the power grid. The bill requires the Energy Department to approve or deny designation applications within 90 days and the Commission to establish permitting regulations within 180 days, accelerating what are typically lengthy approval timelines. These designated projects become eligible for federal financing assistance under existing clean energy and infrastructure programs. The legislation essentially consolidates the permitting authority at the federal level to reduce delays caused by differing state approval processes and expedite construction of transmission lines needed to address grid congestion and support growing electricity demand.