Relating to the universal service fund; and prescribing an effective date.

Modifies definitions applicable for purposes of universal service surcharge. Subjects sale of retail commercial mobile radio services and retail interconnected voice over internet protocol services to universal service surcharge. Reduces rate cap to six percent of sale of services subject to surcharge. Directs Public Utility Commission to transfer up to $5 million per year of moneys deposited in universal service fund to Broadband Fund. Establishes Broadband Fund. Continuously appropriates moneys in Broadband Fund to Oregon Business Development Department to provide grants and loans through, and to administer, program related to broadband. Directs department to adopt program for providing grants and loans by rule. Directs department to report annually to interim committee of Legislative Assembly related to telecommunications on status of Broadband Fund. Sunsets Broadband Fund, transfer of moneys from universal service fund to Broadband Fund and grant program on January 2, 2030. Becomes operative on January 1, 2021. Takes effect on 91st day following adjournment sine die.