(1) The authority shall expend money from the operational fund created in section 40-42-106 to study the need for expanded transmission capacity in the state, including: (a) The ability to expand capacity through the construction of new transmission lines, improvements to existing transmission lines, and connections to organized wholesale markets, as defined in section 40-5-108 (1)(a); (b) Whether and how expanded transmission capacity will: (I) Improve the system reliability of the electric grid and provide optimal utilization of electricity flows in the state; (II) Support the state's emission reduction goals set forth in section 25-7-102 (2)(g); (III) Support the state's forecasted electricity needs; and (IV) Reduce land impacts by using existing rights-of-way, including for large capacity transmission lines; co-locating multiple transmission lines; reconductoring transmission lines; and strategically siting new transmission corridors. (2) The authority shall prepare: (a) An initial report of the study, including any recommendations, and present the initial report to the commission on or before September 1, 2024; and (b) A final report of the study, including any recommendations, and present the final report to the joint committee of the house of representatives energy and environment committee and the senate transportation and energy committee, or their successor committees, on or before January 31, 2025. (3) This section is repealed, effective September 1, 2025.
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