The bill amends Section 39-1-26 of the General Laws concerning the Public Utilities Commission by establishing a public utilities reserve fund to support the commission and division in their operational expenses. The fund will be financed through annual appropriations from the General Assembly, amounting to 0.00025% of the gross annual operating revenues of gas, electric, and telephone companies. Additionally, the bill stipulates that public utilities involved in applications or investigations will be responsible for covering a portion of the incurred expenses, with a new cap on these charges raised from $750,000 to $1,000,000. Furthermore, the cap for the administrator's representation of the state before federal agencies is increased from $250,000 to $500,000.

The bill also introduces a regulatory requirement for the Division of Public Utilities and Carriers to establish a fee schedule for telecommunications filings, which will be directed to the general fund rather than the public utilities reserve fund. The overall intent of the legislation is to enhance the financial framework supporting the Public Utilities Commission and ensure adequate funding for its operations and legal representation. The act will take effect immediately upon passage.