Telecommunications Economic Opportunity Act of 1995

Telecommunications Economic Opportunity Act of 1995 - Directs the Federal Communications Commission (FCC) to require each provider of telecommunications services (provider) to submit annually a detailed and verifiable plan for increasing its procurement from businesses that are owned by minorities and women in all categories of procurement in which minorities are underrepresented. Requires each provider to report annually to the FCC regarding implementation of programs established under this Act. Directs the FCC to report annually to the Congress on the progress of activities undertaken by each provider.

Directs the FCC to establish regulations for: (1) implementing programs under this Act; and (2) verifying and determining the eligibility of businesses owned by minorities and women. Requires each provider and its affiliates to develop and implement an outreach program to inform and recruit eligible businesses to apply for procurement contracts under this Act. Allows for the waiver of such requirements when their application to a provider results in undue hardship or unreasonable expense.

Provides sanctions and remedies in the case of: (1) a business that falsely represents itself as a business owned by minorities or women; or (2) a provider which makes false representations in its annual report to the FCC or in its implementation of programs under this Act. Prohibits discrimination against eligible businesses attempting to procure contracts from telephone utilities. Authorizes civil actions by eligible businesses to enforce the provisions of this Act.