Bill > HB998

This bill allows certain smaller local telephone companies, specifically "Tier 2 local exchange companies" that are not affiliated with larger national providers and are responsible for providing basic local phone service, to choose to be regulated under a "rate of return" system instead of an "alternative regulation" system. Rate of return regulation generally means the company's profits are limited to a certain percentage of its investment, which can provide more stability. This election must be made by August 1, 2026, and these companies will be prohibited from switching back to the alternative regulation until August 1, 2031. The bill also makes changes to the "Universal Access Fund," which helps ensure phone service is available in all areas, by extending the time certain distributions can be made, requiring more detailed financial information from companies seeking reimbursement, and capping the total annual distributions from the fund at $50 million for costs incurred after July 1, 2026. Additionally, the bill mandates annual reports on the Universal Access Fund's financial status and operations.

Business and Industry, Transportation and Infrastructure

https://www.legis.ga.gov/legislation/72277