Interstate Transmission Act

[AI summary unavailable — showing source text] Interstate Transmission Act - Amends the Federal Power Policy Act (FPA) to incorporate within its jurisdiction the unbundled transmission of electric energy sold at retail. (Sec. 3) Directs the Federal Energy Regulatory Commission (FERC) to determine by rule or order which facilities used for the transmission and delivery of electric energy are used in interstate commerce (subject to its jurisdiction), and which are used for local distribution (subject to State jurisdiction). Redefines "interstate commerce" to include, for FPA purposes, consumption of electricity in a foreign country. (Sec. 4) Repeals the statutory constraints placed upon the disposition of property by a public utility subject to FERC jurisdiction. (Sec. 5) Requires FERC to permit a transmitting utility to recover all its costs incurred in connection with the transmission services and necessary associated services, including the costs of any enlargement of transmission facilities. Prescribes guidelines for FERC review of rates, charges, terms, and conditions for transmission service, including: (1) voluntary innovative pricing policies; (2) negotiated rates; and (3) recovery of market-based rates for transmission s…