FASTER Act of 2023

This bill amends the Federal Power Act to speed up the review and permitting of certain electric transmission facilities. It creates a new process for designating national interest electric transmission corridors and issuing permits for facilities in those corridors, and it sets rules for community benefit agreements, federal agency coordination, and revenue sharing from transmission projects on federal land.

Sec. 2, National interest electric transmission facilities: This section replaces the existing section 216 of the Federal Power Act. It defines key terms like "national interest electric transmission facility" (a facility in a designated corridor or one crossing at least two states with at least 345 kV or 750 MW capacity) and "community benefit agreement" (a legally enforceable agreement between the project sponsor, local governments, tribes, community groups, and labor unions). The Secretary of Energy must study transmission congestion every three years and may designate national interest electric transmission corridors. Developers can also apply to have a specific route designated as a corridor. The Federal Energy Regulatory Commission (FERC) may issue permits for these facilities if a state lacks authority to approve siting, the applicant does not serve end-use customers in that state, or a state authority has not acted on an application.

Sec. 3, Support for regional offices of cooperating agencies: FERC is authorized to receive funds to provide to cooperating agencies (as defined in federal regulations) to cover costs of staff and resources for expeditious review of qualifying projects.

Sec. 4, FERC hiring and compensation authority: The Chairman of FERC may designate certain positions that can be filled without following standard civil service laws. FERC may set pay for those positions up to the rate for level III of the Executive Schedule.

Sec. 5, Disposition of certain revenues: This section sets rules for revenue from rights-of-way for electric transmission on federal land (public land and National Forest System land not excluded from such use). From enactment through 2039, 25% goes to the state, 25% to counties, 15% to the Secretary of the Interior for permit coordination, and 35% to a new Federal Land Electric Energy Transmission Conservation Fund. From 2040 onward, the shares change to 25% state, 25% county, 10% for permit coordination, and 40% to the Fund. The Fund, administered by the National Fish and Wildlife Foundation, is used for restoring fish and wildlife habitat and corridors, protecting water resources, and improving recreational access to federal land. Payments to states and counties must be used consistent with the Mineral Leasing Act.