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SB991
Status and Testimony
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RELATING TO TELECOMMUNICATIONS.
Except for requirements under federal law and section 269-7 and 269-16.9,
exempts a public utility providing basic exchange service to every county in
the State or any affiliate or parent of such public utility from chapter 269
and the jurisdiction of the PUC and consumer advocate. Exempts a public utility
providing basic exchange service to every county in the State from financial
report requirements. Repeals language requiring approval of the PUC prior to
a telecommunications carrier charging a higher rate for basic exchange
service than the rate included in the carrier's filed tariff. Allows any
public utility providing basic exchange service to every county in the State
to issue stocks and stock certificates, bonds, notes, and other evidences of
indebtedness payable at periods of more than twelve months after the date
thereof, for any purpose, without securing approval of the PUC. Exempts
telecommunications carriers from utility rate regulation and ratemaking
procedures and provisions relating to valuations, regulatory flexibility for
effectively competitive services, cross-subsidies, and access to advanced
services. Allows any public utility providing basic exchange service to
every county in the State to sell, lease, assign, dispose of, or encumber its
property by any means without approval of the PUC, provided that the utility
notifies the PUC in writing of such a transaction within 30 days. Exempts
any transactions by public utilities providing basic exchange service to
every county in the State from provisions regulating relations with an affiliated
interest and contracts with affiliates filed and subject to PUC action and
issuance of voting stock restrictions.
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CPH
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