CA SB1122

Requires the Public Utilities Commission to issue final decisions on general rate cases for small independent telephone corporations within 390 days of filing, or the corporation may implement interim rates.

Allows small independent telephone corporations to file interim rate tariffs with increases up to the rate of inflation if the commission misses the 390-day deadline, with rates subject to refund and adjustment based on final commission decision.

Includes rate case expenses as part of the revenue requirement for small independent telephone corporations participating in the California High-Cost Fund-A program.

Maintains the California High-Cost Fund-A program to provide universal service rate support to small independent telephone corporations in rural areas to ensure affordable and widespread availability of communications services.

Allows the 390-day and interim rate requirements to be waived by mutual consent between the Public Utilities Commission's executive director and the small independent telephone corporation.