A bill to require accurate billing by telecommunications carriers with respect to the costs and fees resulting from the enactment of the Telecommunications Act of 1996, and for other purposes.

Directs the Federal Communications Commission (FCC) and the Federal Trade Commission (FTC) to jointly conduct an investigation of the billing practices of telecommunications carriers (carriers) to determine whether bills sent to customers accurately assess and characterize any additional fees paid by customers for telecommunications services as a result of the enactment of the Telecommunications Act of 1996. Requires access to carrier records relevant to such investigation. Directs either the FCC or FTC to take appropriate disciplinary actions against carriers whose customer bills inaccurately assess and characterize such fees. Requires a joint report to the Congress on investigation results.

Requires carriers that include on customer bills a charge or charges attributed to Federal regulatory actions to: (1) specify in such bill any reduction in charges or fees allocable to all classes of customers by reason of such regulatory actions; and (2) submit to the FCC certain disclosure reports required to be submitted by such carriers to the Securities and Exchange Commission under the Securities Exchange Act of 1934.