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z?d104:SN00652:@@@D at thomas.loc.gov Page 6 of 16 exchange access; and (2) preferring or discriminating in favor of its telemessaging service operations in its provision of telecommunications services. Directs the FCC to establish 110 procedures or regulations thereunder for the expedited receipt and review of complaints alleging violations that result in material financial harm to providers of telemessaging services. (Sec. 102) Specifies that a common carrier designated as an "eligible telecommunications carrier" shall: (1) be eligible to receive universal service support; and (2) throughout the service area for which the designation is received, offer the services that are supported by Federal universal service support mechanisms either using its own facilities or a combination of its own facilities and resale of another carrier's services, and advertise the availability of such services and the charges therefor using media of general distribution. Requires a State commission to designate such a carrier for the service area. Authorizes (in the case of an area served by a rural telephone company) or requires (in the case of all other areas) the State commission to designate more than one common carrier as an eligible carrier for a service area designated by the State commission, as long as each additional requesting carrier meets the requirements of this section and such designation is in the public interest. Sets forth provisions regarding: (1) designation of eligible carriers for unserved areas; and (2) relinquishment of universal service (in areas served by more than one eligible carrier). (Sec. 103) Amends the Public Utility Holding Company Act of 1935 (PUHCA) to allow registered holding companies to diversify into telecommunications, information, and related services and products where the Securities and Exchange Commission (SEC) determines that a • registered holding company is providing telecommunications, information, and other related services through a single purpose subsidiary, designated an "exempt telecommunications company" (ETC). Requires prior State approval before any utility that is associated with a registered holding company may sell to an ETC any asset in the retail rates of that utility as of December 19, 1995. Specifies that the ownership of ETCs by registered holding companies shall not be subject to prior approval or other restriction by the SEC, but the relationship between an ETC and a registered holding company shall remain subject to SEC jurisdiction, with exceptions. Requires any registered holding company or subsidiary thereof that acquires or holds the securities, or an interest in the business, of an ETC to file with the SEC such information as the SEC may prescribe concerning: (1) investments and activities by the registered holding company, or any subsidiary thereof, with respect to ETCs; and (2) any activities of an ETC within the holding company system that are reasonably likely to have a material impact on the financial or operational condition of the holding company system. Prohibits public utility companies from assuming the liabilities of an ETC and from pledging or mortgaging the assets of a utility for the benefit of an ETC. Sets forth provisions regarding: (1) protection against abusive affiliate transactions; and (2) non-preemption of rate authority. Prohibits reciprocal arrangements to avoid the provisions of this section among companies that are not affiliates or associate companies of each other. Authorizes State commissions to: (1) examine the books and records of the ETC and any http://thomas.loc.gov/cgi-bin/bdquery/z?d104:SNO0652:@@@D 12/11/96