MO SB785

Establishes a Universal Service Board consisting of Public Service Commission members and public counsel to oversee a state universal service fund funded through assessments on telecommunications companies, interconnected voice over Internet protocol service providers, and commercial mobile radio service providers.

Funds from the universal service fund may be used to ensure reasonably comparable essential local telecommunications service in high-cost areas at just and affordable rates, support low-income and disabled customers, and cover fund administration costs.

Creates a Missouri High-Cost Support Mechanism within the universal service fund to offset revenue losses from elimination of intrastate carrier common line charges for incumbent local exchange companies with more than 25,000 Missouri access lines.

Requires eligible incumbent local exchange companies to reduce intrastate carrier common line charges to zero no sooner than 30 days after the commission concludes a proceeding to establish a benchmark rate for residential basic local telecommunications service and implement required funding.

Allows regulated telecommunications companies to recover assessments paid to the universal service board through a surcharge on retail customer access lines, and permits companies to increase residential basic local telecommunications service rates up to a commission-set benchmark rate.