CAP Act

Community Access Preservation Act or the CAP Act - Amends the Communications Act of 1934 to require, with a specified waiver authority, that public, educational, and government (PEG) channels be: (1) carried in the same channel capacity as local commercial television channels, or if no such stations are required to be carried, in the same channel capacity as network-affiliated commercial television stations carried on cable; and (2) provided to every cable subscriber without additional service or equipment charges.

Requires a cable operator to: (1) carry PEG signals to subscribers without material degradation and without altering content; and (2) provide facilities adequate to fulfill such requirements.

Requires cable operators in states that have adopted statewide franchising to: (1) make PEG support payments equal to the greater of the cash payment required under state law or the value of historically-provided PEG support; (2) carry PEG signals from the point of origin to subscribers; and (3) provide at least the number of channels for PEG use provided as of May 31, 2005.