“(a) Allocation of costs.—

“(1) IN GENERAL.—Any entity that proposes to own, control, or operate a transmission facility of national significance may file a tariff with the Commission in accordance with section 205 and the regulations of the Commission allocating the costs of such transmission facility of national significance.

“(2) COST CAUSATION PRINCIPLE.—The Commission shall require that any tariff filed under paragraph (1) allocate the costs of a transmission facility of national significance to customers within the applicable transmission planning region or regions in a manner that is at least roughly commensurate with the estimated anticipated benefits described in paragraph (3).

“(3) COST ALLOCATION PRINCIPLE.—The Commission shall require that any tariff filed under paragraph (1) allocate costs based on the broad range of reliability, economic, public policy, resilience, environmental, and other reasonably anticipated benefits of the applicable transmission facility of national significance.

“(b) Transmission facility of national significance.—In this section, the term ‘transmission facility of national significance’ means—

“(1) an interstate electric power transmission line (and any facilities necessary for the operation of such electric power transmission line) or an electric power transmission line that is located offshore (and any facilities necessary for the operation of such electric power transmission line)—

“(A) that has a transmission capacity of not less than 1,000 megawatts; and

“(B) the construction of which is completed on or after the date of enactment of this section; or

“(2) an expansion of, or upgrade to, an interstate electric power transmission line (and any facilities necessary for the operation of such electric power transmission line) or an electric power transmission line that is located offshore (and any facilities necessary for the operation of such electric power transmission line) that—

“(A) increases the transmission capacity of such electric power transmission line by at least 500 megawatts; and

“(B) is completed on or after the date of enactment of this section.

“(c) Savings provision.—This section does not affect the authority of the Commission to approve the allocation of costs of transmission facilities other than transmission facilities of national significance.”.

“(a) Allocation of costs.—

“(1) IN GENERAL.—Any entity that proposes to own, control, or operate a transmission facility of national significance may file a tariff with the Commission in accordance with section 205 and the regulations of the Commission allocating the costs of such transmission facility of national significance.

“(2) COST CAUSATION PRINCIPLE.—The Commission shall require that any tariff filed under paragraph (1) allocate the costs of a transmission facility of national significance to customers within the applicable transmission planning region or regions in a manner that is at least roughly commensurate with the estimated anticipated benefits described in paragraph (3).

“(3) COST ALLOCATION PRINCIPLE.—The Commission shall require that any tariff filed under paragraph (1) allocate costs based on the broad range of reliability, economic, public policy, resilience, environmental, and other reasonably anticipated benefits of the applicable transmission facility of national significance.

“(b) Transmission facility of national significance.—In this section, the term ‘transmission facility of national significance’ means—

“(1) an interstate electric power transmission line (and any facilities necessary for the operation of such electric power transmission line) or an electric power transmission line that is located offshore (and any facilities necessary for the operation of such electric power transmission line)—

“(A) that has a transmission capacity of not less than 1,000 megawatts; and

“(B) the construction of which is completed on or after the date of enactment of this section; or

“(2) an expansion of, or upgrade to, an interstate electric power transmission line (and any facilities necessary for the operation of such electric power transmission line) or an electric power transmission line that is located offshore (and any facilities necessary for the operation of such electric power transmission line) that—

“(A) increases the transmission capacity of such electric power transmission line by at least 500 megawatts; and

“(B) is completed on or after the date of enactment of this section.

“(c) Savings provision.—This section does not affect the authority of the Commission to approve the allocation of costs of transmission facilities other than transmission facilities of national significance.”.