Internet Investment, Innovation, and Competition Preservation Act

Internet Investment, Innovation, and Competition Preservation Act - Amends the Communications Act of 1934 to prohibit the Federal Communications Commission (FCC) from regulating the rates, terms, conditions, provisioning, or use of an information service or an Internet access service unless: (1) there is a market failure in the provision of such service; (2) there is substantial evidence such failure is preventing a substantial number of consumers nationwide from accessing a substantial amount of lawful Internet content, applications, and services of their choice on a continuing basis; (3) regulations are necessary to ameliorate such consumer harm; and (4) the FCC has performed a cost-benefit analysis determining that the benefit of such regulation exceeds its costs.

Requires any FCC regulation to: (1) be the least restrictive necessary to address market failure and consumer harm; and (2) not prohibit network management from addressing quality of service or measures to prevent unauthorized or illegal activity, including copyright infringement.

Requires the FCC to enforce any such regulation on a nondiscriminatory basis between and among broadband network providers, service providers, application providers, and content providers.