§ 7523 - Rate adjusted annually - Vermont Statutes

§ 7523. Rate adjusted annually

(a) Annually, after considering the probable expenditures for programs funded pursuant to this chapter, the probable service revenues of the industry and seeking recommendations from the department, the public service board shall establish a rate of charge to apply during the 12 months beginning on the following September 1. However, the rate so established shall not at any time exceed two percent of retail telecommunications service. The board's decision shall be entered and announced each year before July 15. However, if the general assembly does not enact an authorization amount for E-911 before July 15, the board may defer decision until 30 days after the E-911 authorization is established, and the existing charge rate shall remain in effect until the board establishes a new rate.

(b) Universal service charges imposed and collected by the fiscal agent under this subchapter shall not be transferred to any other fund or used to support the cost of any activity other than in the manner authorized by section 7511 of this title. (Added 1993, No. 197 (Adj. Sess.), § 5; amended 1995, No. 182 (Adj. Sess.), § 7, eff. May 22, 1996; 2005, No. 171 (Adj. Sess.), § 2.)