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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
9/21/2012--Introduced. Restore Effective Statistics to the Calculation of USF Expenditures Act of 2012 or the RESCUE Act of 2012 - Prohibits the Order of the Federal Communications Commission (FCC) in the Matter of Connect America Fund and High-Cost Universal Service Support from having any force or effect after the enactment of this Act. (The FCC Order relates to Universal Service Fund [USF] expenditures and the adoption, on April 25, 2012, of a methodology for establishing benchmarks for capital and operating costs reimbursable to rate-of-return cost companies from high-cost loop support.)
Directs the FCC to report to Congress on alternatives to the methodology in such Order and to make such report available to the public on the FCC website.
Prohibits the FCC from adopting such an alternative methodology until a specified period after the report is submitted to Congress.