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7 LONG TITLE
8 General Description:
9 This bill exempts certain telecommunication corporations from Public Service
10 Commission approval of certain mergers and acquisitions.
11 Highlighted Provisions:
12 This bill:
13 ▸ exempts a telecommunication corporation from obtaining Public Service
14 Commission consent and approval of certain mergers and acquisitions if the
15 telecommunication corporation is:
16 • a competitive entrant; or
17 • an incumbent telecommunications corporation with pricing flexibility;
18 ▸ requires a telecommunications corporation to provide notice to the Public Service
19 Commission of a merger or acquisition;
20 ▸ limits the applicability of the exemption to exclude a telecommunications
21 corporation that receives certain high cost support from the Universal Public
22 Telecommunications Support Fund; and
23 ▸ makes technical changes.
24 Money Appropriated in this Bill:
25 None
26 Other Special Clauses:
27 None
28 Utah Code Sections Affected:
29 ENACTS:
30 54-8b-3.4, Utah Code Annotated 1953
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32 Be it enacted by the Legislature of the state of Utah:
33 Section 1. Section 54-8b-3.4 is enacted to read:
34 54-8b-3.4. Exemption from merger and acquisition approval by commission.
35 (1) (a) Except as provided in Subsection (2), a telecommunications corporation is
36 exempt from the requirements of Sections 54-4-28, 54-4-29, and 54-4-30 if the
37 telecommunications corporation is:
38 (i) a competitive entrant pursuant to Section 54-8b-2.1; or
39 (ii) an incumbent telecommunications corporation that has pricing flexibility pursuant
40 to Section 54-8b-2.3.
41 (b) A telecommunications corporation that is exempt under Subsection (1) shall notify
42 the commission in writing prior to the conclusion of any transaction that would otherwise be
43 subject to Section 54-4-28, 54-4-29, or 54-4-30.
44 (2) The exemption described in Subsection (1) does not apply if the
45 telecommunications corporation receives high cost support from the Universal Public
46 Telecommunications Support Fund established in Section 54-8b-15, other than a one-time
47 distribution described in Section 54-8b-15.