HI SB991

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

Treats retail intrastate telecommunications services as fully competitive, allowing carriers to set rates, charges, terms, and conditions without prior commission approval and requiring only website posting of rates.

Exempts telecommunications service providers offering fully competitive retail services from seeking commission approval for issuing stocks, bonds, and other debt instruments, with notification to the PUC required upon execution.

Exempts telecommunications service providers offering fully competitive retail services from seeking commission approval for selling, leasing, mortgaging, or otherwise disposing of property and equipment, except for mergers or consolidations.

Exempts telecommunications service providers offering fully competitive retail services from filing accident reports with the commission and allows basic exchange service providers to engage in affiliate transactions without additional oversight.