S742 - Adjust the Utility Regulatory Fee

• Establishes separate regulatory fee rates for telecommunications companies based on whether they operate under competitive or noncompetitive jurisdictions under G.S. 62-133.5.

• Sets regulatory fee rate for subsection (h) competitive jurisdictional revenues at 0.06% for quarters beginning July 1, 2015, and 0.04% for quarters beginning July 1, 2016.

• Sets regulatory fee rate for subsection (m) competitive jurisdictional revenues at 0.05% for quarters beginning July 1, 2015, and 0.02% for quarters beginning July 1, 2016.

• Requires adjustment of noncompetitive jurisdictional revenue rates for fiscal years 2015-2016 and 2016-2017 to offset the fee decreases and maintain sufficient funding for the Public Utilities Commission and Public Staff operations.

• Allows utilities to recover increased regulatory fee obligations through rate adjustments or accounting orders for deferrals, effective July 1, 2015.