May 9, 2014 10:36 AM by David Randall
DENVER (AP) - Gov. John Hickenlooper is signing legislation that reroutes part of a $54 million annual ratepayer subsidy to telecom companies into a broadband fund to provide service in rural areas.
The subsidy goes back to the days when most people had landlines and few provider options. The money was used to provide service in hard-to-reach areas.
The plan is to phase out the ratepayer subsidy in 10 years.
The governor is signing the bill Friday, along with three others dealing with updating the state's decades-old telecommunication laws.