HI HB272

Caps annual rate increases for basic exchange service in counties with populations under 500,000 at $6.50 per month without Public Utilities Commission (PUC) approval.

Allows telecommunications carriers providing fully competitive retail services to modify rates, charges, and terms and conditions without PUC approval, with rates posted on the carrier's website instead of filed with the commission.

Exempts telecommunications service providers offering fully competitive retail services from PUC approval requirements for issuing stocks, bonds, and other evidence of indebtedness, provided the PUC is notified upon execution.

Exempts telecommunications service providers offering fully competitive retail services from PUC approval for selling, leasing, mortgaging, or otherwise disposing of property or equipment, except mergers or consolidations with other public utilities.

Exempts telecommunications service providers offering fully competitive retail services from filing accident reports with the PUC and creates an exemption for public utilities providing basic exchange service statewide from certain foreign investment restrictions and affiliate transaction requirements.