86-127 Nebraska Competitive Telephone Marketplace Fund; created; use; investment. - Nebraska Statutes

86-127. Nebraska CompetitiveTelephone Marketplace Fund; created; use; investment.(1)One of the goals of the federal Telecommunications Act of 1996, as such actexisted on January 1, 2002, is to foster competition among telephone companies.Section 271 of the federal act (a) establishes specific incentives, procedures,and requirements for regional Bell operating companies to offer inter-LATAinterexchange service and (b) requires the Public Service Commission to monitorthe competitive performance of a regional Bell operating company and to consultwith the Federal Communications Commission regarding such activities.(2) The Nebraska Competitive Telephone Marketplace Fund iscreated. The Public Service Commission may accept, and the fund shall consistof, any voluntary performance payments received from a regional Bell operatingcompany. The fund shall be used by the commission for expenses related tothe monitoring of compliance with section 271 of the federal act. If moneyin the fund exceeds thirty thousand dollars, the commission shall remit suchexcess money to the State Treasurer for credit to the Nebraska Internet EnhancementFund, except that transfersmay be made from the Nebraska Competitive Telephone Marketplace Fund to theGeneral Fund at the direction of the Legislature. Any money inthe Nebraska Competitive Telephone Marketplace Fund available for investmentshall be invested by the state investment officer pursuant to the NebraskaCapital Expansion Act and the Nebraska State Funds Investment Act. SourceLaws 2002, LB 1211, § 11; Laws 2008, LB755, § 6; Laws 2009, First Spec. Sess., LB3, § 96.Effective Date: November 21, 2009 Cross ReferencesCertificates for inter-LATA interexchange services, see section 86-129.Nebraska Capital Expansion Act, see section 72-1269.Nebraska State Funds Investment Act, see section 72-1260.