This bill amends federal law to give states greater control over electric transmission line projects. Specifically, it prevents the Federal Energy Regulatory Commission from approving transmission facility construction or modifications if a state with authority to approve the project objects to it or is already reviewing a similar application. The legislation adds requirements that any approved projects must minimize harm to farmers and landowners, provide adequate compensation for damages, and deliver benefits to state consumers that exceed the harms caused. The bill also requires the Federal Energy Regulatory Commission to submit annual reports to Congress detailing all transmission siting decisions and documenting any adverse effects on farmers, landowners, and agricultural producers, along with steps taken to minimize those effects and provide compensation.