House Sponsors: RUTHERFORD-MAUTINO-PERSICO-NOVAK AND O'CONNOR. Senate Sponsors: MAITLAND Short description: TELECOM-STOCKS-BONDS-NOTES Synopsis of Bill as introduced: Amends the Public Utilities Act. Provides that a telecommunications carrier must conform its depreciation accounts to the rates determined by the Commerce Commission for only one year after the determination. Permits a telecommunications carrier to alter depreciation rates in accordance with generally accepted accounting principles. Effective immediately. HOUSE AMENDMENT NO. 1. Adds reference to: 220 ILCS 5/6-102 220 ILCS 5/10-114 new 220 ILCS 5/13-301 from Ch. 111 2/3, par. 13-301 220 ILCS 5/13-506.1 from Ch. 111 2/3, par. 13-506.1 220 ILCS 5/13-507 from Ch. 111 2/3, par. 13-507 Replaces the title and everything after the enacting clause. Amends the Public Utilities Act. Provides that a telecommunications carrier must conform its depreciation accounts to the rates determined by the Commerce Commission for only one calendar year after the determination. Permits a telecommunications carrier to alter depreciation rates in accordance with generally accepted accounting principles. Exempts telecommunications carriers from a provision requiring that notes they issue be payable within 12 months after the date of issuance. Requires the Commerce Commission to resolve proceedings on the basis of written pleadings and submissions that are verified or supported by affidavit. Requires the Commerce Commission to establish, if appropriate, a fund to permit eligible telecommunications carriers whose costs of providing services exceed the affordable rate to receive funds to mitigate the effect on customers resulting from the high costs. Provides that the costs of the established fund be recovered from all carriers on a competitively neutral basis. Provides that only the initial alternative regulation plan applicable to a telecommunications carrier limits the rates for basic residence service. Effective immediately. HOUSE AMENDMENT NO. 2. Deletes reference to: 220 ILCS 5/5-104 220 ILCS 5/10-114 new 220 ILCS 5/13-301 220 ILCS 5/13-506.1 220 ILCS 5/13-507 Replaces the title and everything after the enacting clause. Amends the Public Utilities Act. Exempts telecommunications carriers from a provision requiring that notes they issue be payable within 12 months after the date of issuance. Effective immediately. Last action on Bill: PUBLIC ACT.............................. 91-0069 Last action date: 99-07-09 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 2 SENATE - 0 END OF INQUIRY Full Text Bill Status