House Journal: Page 801: Thursday, March 14, 2002
21 not exceed the most recent annual change in the gross
22 domestic produce price index, as published by the
23 federal government. If application of that formula
24 achieves a negative result, prices shall be reduced so
25 that the cumulative price change for basic services,
26 including prior price reductions in these services,
27 achieves the negative result. The board by rule may
28 adopt different measures of inflation if they are
29 found to be more reflective of the individual price-
30 regulated carriers.
31 Sec. 2. Section 476.97, subsection 11, paragraph
32 g, subparagraph (4), Code 2001, is amended by striking
33 the subparagraph and inserting in lieu thereof the
34 following:
35 (4) Rates may be adjusted by the board to reflect
36 any changes in revenues, expenses, and investment due
37 to exogenous factors beyond the control of the local
38 exchange carrier, including, but not limited to, the
39 effects of local competition. The board shall have
40 ninety days to consider rate changes proposed under
41 this subparagraph, but for good cause may grant one or
42 more extensions in thirty-day increments, not to
43 exceed a total of one hundred eighty days.
44 Sec. 3. Section 476.97, subsection 11, paragraph
45 h, Code 2001, is amended to read as follows:
46 h. The board may review a local exchange carrier's
47 operation under this subsection, with notice and an
48 opportunity for hearing, after four years of the
49 carrier's election to be price-regulated. The local
50 exchange carrier, consumer advocate, or any person may
Page 2
1 propose, and the board may approve, any reasonable
2 modifications to the price-regulation requirements in
3 this subsection as a result of the specific carrier
4 review, except that such with the following
5 limitations:
6 (1) Such modifications shall not require a
7 reduction in the rates for any basic communications
8 service or a return to rate-base, rate-of-return
9 regulation.
10 (2) Such proposals for modifications under this
11 paragraph "h" are limited to no more than one every
12 three years.
13 The board shall approve, or approve subject to
14 modification, a proposal for modification within
15 ninety days of filing, but for good cause may grant
16 one or more extensions in thirty-day increments, not
17 to exceed a total of one hundred eighty days.
18 Reasonable modifications may include increases without
19 offsetting decreases in any rate for basic and
© 2002 Cornell College and
League of Women Voters of Iowa
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