A bill to amend the Communications Act of 1934 to assure that any system to access charges provide funding for reduced telephone rates for low-income elderly residential subscribers.

Amends the Communications Act of 1934 to require that any system of exchange access charges established by the Federal Communications Commission provide for the collection and disbursement of funds to defray the costs to exchange carriers of providing single line residential telephone service to low-income elderly subscribers at a rate not exceeding 50 percent of the regular rate for such service. Prohibits any payment of such funds for service to a household that: (1) is not the subscriber's principal residence; (2) has more than one telephone line at a discounted rate; or (3) is receiving any other exchange telephone service.