SS/SB 1066 - This act provides telecommunication companies subject to price cap regulation the opportunity to request a waiver from the public service commission and the requirement that tariffs be filed to reduce rates for any service in which the current rate exceeds the maximum allowable price. The request may be made in the event that the CPI for the preceding twelve months is negative. All revenues attributable to such a waiver shall be used for the purposes approved by the commission to benefit local ratepayers including but not limited to expanded calling local scopes. Any request for a waiver must first be approved by the commission, for good cause shown, before taking effect. MEGAN WORD