(1) For purposes of this section:

(a) Served location means a location receiving, or at the time the lease is filed with the Public Service Commission able to receive, communications service at a minimum download speed of twenty-five megabits per second and a minimum upload speed of three megabits per second or higher speeds, as determined by the Public Service Commission; and

(b) Unserved location means a location not receiving, and at the time the lease is filed with the Public Service Commission not able to receive, communications service at a minimum download speed of twenty-five megabits per second and a minimum upload speed of three megabits per second or higher speeds, as determined by the Public Service Commission.

(2) Any agency or political subdivision of the state may lease its dark fiber if:

(a) The lessee is a certificated telecommunications common carrier or a permitted telecommunications contract carrier pursuant to section 86-128 or an Internet service provider;

(b) The lease terms are fair, reasonable, and nondiscriminatory; and

(c) The lease complies with this section.

(3)(a) Before a lease of dark fiber under this section becomes effective, it shall be filed with the commission which shall expeditiously cause notice of the lease, including lease rates, to be published.

(b)(i) The lease shall become effective fourteen business days after the date of the published notice unless a protest is filed with the commission, in which event the commission shall consider the lease as a contested matter and consider the contested lease according to the commission's rules of procedure.

(ii) If the allocation of served location and unserved location in the lease is contested, the commission shall determine such allocation under the lease as a contested matter and consider the contested lease according to the commission's rules of procedure.

(4) For the lease of dark fiber:

(a) The commission shall establish a safe harbor range of market rates for all dark fiber leases using a competitive price determination comparison. When conducting a competitive price determination comparison, the commission, in its discretion, shall use rate schedules, interconnection agreements, or other documents within its regulatory oversight and shall gather other market rate information as deemed necessary. If a lease utilizes rates within the safe harbor range, such rates shall be deemed approved. Any other term of the lease may be contested pursuant to subdivision (3)(b) of this section; and

(b) Fifty percent of the profit earned by the agency or political subdivision under a lease of dark fiber leased to serve a served location shall be remitted to the State Treasurer for credit to the Nebraska Telecommunications Universal Service Fund. For purposes of this subdivision, profit earned by the agency or political subdivision means the lease price less the cost of infrastructure deployment. This subdivision does not apply to a lease or portion of a lease of dark fiber leased to exclusively serve unserved locations.

(5) The lessee shall make every reasonable effort to activate the maximum amount of the leased fiber as is possible, within one year after entering into the lease, unless good cause is shown.