Text: S05171 Text: S05173 Text: S05100 - S05199 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend Senate File 429, as amended, passed, and 1 2 reprinted by the Senate, as follows: 1 3 #1. By striking everything after the enacting 1 4 clause and inserting the following: 1 5 "Section 1. Section 476.97, subsection 11, 1 6 paragraph e, subparagraph (1), Code 2001, is amended 1 7 by striking the subparagraph and inserting in lieu 1 8 thereof the following: 1 9 (1) A price-regulated local exchange carrier shall 1 10 not increase its rates for basic communications 1 11 services, for a period of twelve months after electing 1 12 to become price regulated. To the extent necessary, 1 13 rates for basic services may be increased to carry out 1 14 the purpose of any rules that may be adopted by the 1 15 board relating to the terms and conditions of 1 16 unbundled services and interconnection. A price- 1 17 regulated local exchange carrier may increase its 1 18 rates for basic communications services following the 1 19 initial twelve-month period, to the extent that the 1 20 change in its aggregate revenue weighted prices does 1 21 not exceed the most recent annual change in the gross 1 22 domestic product price index, as published by the 1 23 federal government. If application of that formula 1 24 achieves a negative result, prices shall be reduced so 1 25 that the cumulative price change for basic services, 1 26 including prior price reductions in these services, 1 27 achieves the negative result. The board by rule may 1 28 adopt different measures of inflation if they are 1 29 found to be more reflective of the individual price- 1 30 regulated carriers. 1 31 Sec. 2. Section 476.97, subsection 11, paragraph 1 32 g, subparagraph (4), Code 2001, is amended by striking 1 33 the subparagraph and inserting in lieu thereof the 1 34 following: 1 35 (4) Rates may be adjusted by the board to reflect 1 36 any changes in revenues, expenses, and investment due 1 37 to exogenous factors beyond the control of the local 1 38 exchange carrier, including, but not limited to, the 1 39 effects of local competition. The board shall have 1 40 ninety days to consider rate changes proposed under 1 41 this subparagraph, but for good cause may grant one or 1 42 more extensions in thirty-day increments, not to 1 43 exceed a total of one hundred eighty days. 1 44 Sec. 3. Section 476.97, subsection 11, paragraph 1 45 h, Code 2001, is amended to read as follows: 1 46 h. The board may review a local exchange carrier's 1 47 operation under this subsection, with notice and an 1 48 opportunity for hearing, after four years of the 1 49 carrier's election to be price-regulated. The local 1 50 exchange carrier, consumer advocate, or any person may 2 1 propose, and the board may approve, any reasonable 2 2 modifications to the price-regulation requirements in 2 3 this subsection as a result of the specific carrier 2 4 review,except that suchwith the following 2 5 limitations: 2 6 (1) Such modifications shall not require a 2 7 reduction in the rates for any basic communications 2 8 service or a return to rate-base, rate-of-return 2 9 regulation. 2 10 (2) Such proposals for modifications under this 2 11 paragraph "h" are limited to no more than one every 2 12 three years. 2 13 The board shall approve, or approve subject to 2 14 modification, a proposal for modification within one 2 15 hundred eighty days of filing, but for good cause may 2 16 grant one extension of sixty days, not to exceed a 2 17 total of two hundred forty days. Reasonable 2 18 modifications may include increases without offsetting 2 19 decreases in any rate for basic and nonbasic 2 20 communications service of the carrier. In reviewing 2 21 the carrier's proposal, the board shall consider, but 2 22 not be limited to, potential rate consolidations, the 2 23 impact of competition or other external factors since 2 24 election of price regulation, the impact of the 2 25 proposal on the carrier's ability to attract capital, 2 26 and the impact of the proposal on the ability of the 2 27 carrier to deploy advanced telecommunications 2 28 services. 2 29 Sec. 4. Section 476.97, subsection 11, Code 2001, 2 30 is amended by adding the following new paragraphs: 2 31 NEW PARAGRAPH. j. Upon the request of a local 2 32 exchange carrier, the board shall, when required by 2 33 this subsection, grant the carrier temporary authority 2 34 to place in effect seventy-five percent, or such 2 35 lesser amount as the carrier may request, of the 2 36 requested increases in rates, charges, schedules, or 2 37 regulations by filing with the board a bond 2 38 conditioned upon the refund in a manner to be 2 39 prescribed by the board of any amounts collected from 2 40 any customer class in excess of the amounts which 2 41 would have been collected under rates, charges, 2 42 schedules, or regulations finally approved by the 2 43 board. The board shall approve a request for 2 44 temporary authority within thirty days after the date 2 45 of filing of the request. The decision shall be 2 46 effective immediately. 2 47 The board shall determine the rate of interest to 2 48 be paid by a public utility to persons receiving 2 49 refunds. The interest rate to be applied to refunds 2 50 of moneys collected subject to refund under this 3 1 subsection is one percent per annum plus the average 3 2 quarterly interest rate at commercial banks for 3 3 twenty-four-month loans for personal expenditures, as 3 4 determined by the board, compounded annually. The 3 5 board shall consider federal reserve statistical 3 6 release G.19 or its equivalent when determining 3 7 interest to be paid under this subsection. 3 8 NEW PARAGRAPH. k. The board and the consumer 3 9 advocate may employ additional temporary staff, or may 3 10 contract for professional services with persons who 3 11 are not state employees, as the board and consumer 3 12 advocate deem necessary to review a local exchange 3 13 carrier's operations, proposal for modifications, rate 3 14 change proposal, or proposed changes in aggregate 3 15 revenue weighted prices pursuant to this subsection. 3 16 Beginning July 1, 2002, there is appropriated out of 3 17 any funds in the state treasury not otherwise 3 18 appropriated, such sums as may be necessary to enable 3 19 the board to hire additional staff and contract for 3 20 services under this subsection. The costs of the 3 21 additional staff and services shall be assessed to the 3 22 local exchange carrier pursuant to the procedures in 3 23 sections 475A.6 and 476.10. 3 24 Sec. 5. EFFECTIVE DATE. This Act, being deemed of 3 25 immediate importance, takes effect upon enactment." 3 26 #2. Title page, by striking lines 2 through 4 and 3 27 inserting the following: "including the modification 3 28 or adjustment of certain rates, making an 3 29 appropriation, and providing an effective date." 3 30 SF 429H 3 31 jj/es/25
Text: S05171 Text: S05173 Text: S05100 - S05199 Text: S Index Bills and Amendments: General Index Bill History: General Index
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