Sec. 4. As used in this chapter, "new electric transmission owner" means a corporation, company, partnership, limited liability company, or other organization that:
(1) on the date of its incorporation or organization, does not own, operate, or maintain an electric transmission facility located in whole or in part in Indiana; and
(2) is incorporated or organized to construct, own, operate, and maintain an electric transmission facility located in whole or in part in Indiana.