Public Utility Commission - As enacted, prohibits the commission from exercising regulatory authority over the entry of, rates for, or terms or conditions used by a broadband internet access service or interconnected VoIP service, or from treating a provider of such services as a carrier; makes other changes related to broadband services. - Amends TCA Title 7 and Title 65.

SB 556 prohibits Tennessee's Public Utility Commission from regulating the entry, rates, terms, or conditions of broadband internet access services or interconnected VoIP services, or treating providers of these services as carriers. It directly affects broadband and VoIP providers by removing state regulatory oversight and the Public Utility Commission by restricting its authority over these services. The bill preserves general consumer protection and fair competition laws while exempting existing tariffed services from 2006. It does not affect federal law, 911 fees, or universal service assessments.