NY A07167

Allows telegraph and telephone corporations to issue stocks, bonds, notes, or other evidence of indebtedness with Public Service Commission authorization for acquiring property, constructing facilities, or improving service, including expansion of broadband services using federal loans or grants.

Requires the Commission to determine whether to approve broadband expansion financing applications within sixty calendar days of receipt, with automatic approval if no determination is made within that timeframe.

Permits corporations to proceed without Commission consent on applications for federal loan proceeds for broadband expansion if the Commission has not issued a written determination within sixty days.

Establishes a forty-five day deemed approval process for all applications under this section unless the Commission determines public interest requires its written review and order within that period.

Requires applicants to certify that funds are reasonably required for specified purposes and not chargeable to operating expenses, with the Commission retaining investigative and examination powers.