FASTNET Act

[AI summary unavailable — showing source text] Facilitating Access to Speedy Transmissions for Networks, E-commerce, and Telecommunications Act or FASTNET Act - Amends the Communications Act of 1934 to define a "two percent carrier" as a local telecommunications exchange carrier with fewer than two percent of the Nation's subscriber lines installed in the aggregate nationwide. Directs the Federal Communications Commission (FCC), in adopting rules that apply to incumbent local exchange carriers, to adopt separate and less burdensome rules and requirements for two percent carriers which take into account the more limited resources available to such carriers and the greater burden such rules impose on such carriers and their customers. Authorizes a two percent carrier to seek a waiver or reconsideration of an adopted rule which does not impose less burdensome rules and requirements upon such carriers. Prohibits the FCC from requiring a two percent carrier to file cost allocation manuals or Automated Reporting and Management Information Systems. Prohibits the FCC from adopting or enforcing any regulation which impairs the ability of a two percent carrier to integrate its operations in one or more entities, at its discretion. States…