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The Commission shall provide expedited review for such
transactions. The Commission shall grant or deny any
other application for approval of a transaction not later
than 180 days after the application is filed. If the Com-
mission does not act within 180 days, such application
shall be deemed granted unless the Commission finds,
based on good cause, that further consideration is required
to determine whether the proposed transaction meets the
standards of paragraph (4) and issues an order tolling the
time for acting on the application for not more than 180
days, at the end of which additional period the Commis-
sion shall grant or deny the application.
‘‘(6) For purposes of this subsection, the terms ‘asso-
ciate company’, ‘holding company’, and ‘holding company
system’ have the meaning given those terms in the Public
Utility Holding Company Act of 2005.’’.
(b) EFFECTIVE DATE.—The amendments made by
this section shall take effect 12 months after the date of
enactment of this section.
Subtitle I—Definitions
SEC. 1295. DEFINITIONS.
(a) ELECTRIC UTILITY.—Section 3(22) of the Fed-
eral Power Act (16 U.S.C. 796(22)) is amended to read
as follows:
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‘‘(22) ELECTRIC UTILITY.—The term ‘electric
utility’ means any person or Federal or State agency
(including any entity described in section 201(f))
that sells electric energy; such term includes the
Tennessee Valley Authority and each Federal power
marketing administration.’’.
(b) TRANSMITTING UTILITY.—Section 3(23) of the
Federal Power Act (16 U.S.C. 796(23)) is amended to
read as follows:
‘‘(23) 
TRANSMITTING
UTILITY.—The 
term
‘transmitting utility’ means an entity, including any
entity described in section 201(f), that owns, oper-
ates, or controls facilities used for the transmission
of electric energy—
‘‘(A) in interstate commerce; or
‘‘(B) for the sale of electric energy at
wholesale.’’.
(c) ADDITIONAL DEFINITIONS.—Section 3 of the
Federal Power Act (16 U.S.C. 796) is amended by adding
at the end the following:
‘‘(26) ELECTRIC
COOPERATIVE.—The term
‘electric cooperative’ means a cooperatively owned
electric utility.
‘‘(27) RTO.—The term ‘Regional Transmission
Organization’ or ‘RTO’ means an entity of sufficient
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regional scope approved by the Commission to exer-
cise operational or functional control of facilities
used for the transmission of electric energy in inter-
state commerce and to ensure nondiscriminatory ac-
cess to such facilities.
‘‘(28) ISO.—The term ‘Independent System
Operator’ or ‘ISO’ means an entity approved by the
Commission to exercise operational or functional
control of facilities used for the transmission of elec-
tric energy in interstate commerce and to ensure
nondiscriminatory access to such facilities.’’.
(d) COMMISSION.—For the purposes of this title, the
term ‘‘Commission’’ means the Federal Energy Regu-
latory Commission.
(e) APPLICABILITY.—Section 201(f) of the Federal
Power Act (16 U.S.C. 824(f)) is amended by adding after
‘‘political subdivision of a state,’’ the following: ‘‘an elec-
tric cooperative that has financing under the Rural Elec-
trification Act of 1936 (7 U.S.C. 901 et seq.) or that sells
less than 4,000,000 megawatt hours of electricity per
year,’’.
Subtitle J—Technical and
Conforming Amendments
SEC. 1297. CONFORMING AMENDMENTS.
The Federal Power Act is amended as follows: