DISPOSITIONS OF TRANSMISSION PROPERTY TO IMPLEMENT FERC RESTRUCTURING POLICY.

SEC. 1305. DISPOSITIONS OF TRANSMISSION PROPERTY TO IMPLEMENT FERC RESTRUCTURING POLICY. (a) In General.—Section 451(i)(3) (defining qualifying electric transmission transaction) is amended by striking “2007” and inserting “2008”. (b) Technical Amendment Related to Section 909 of the American Jobs Creation Act of 2004.—Clause (ii) of section 451(i)(4)(B) is amended by striking “the close of the period applicable under subsection (a)(2)(B) as extended under paragraph (2)” and inserting “December 31, 2007”. (c) Effective Dates.— (1) In general.—The amendment made by subsection (a) shall apply to transactions occurring after the date of the enactment of this Act. (2) Technical amendment.—The amendment made by subsection (b) shall take effect as if included in the amendments made by section 909 of the American Jobs Creation Act of 2004.