To require the regional holding companies of local telephone carriers to establish and carry out plans for procurement from businesses owned by minorities and women, and for other purposes.

Directs the Federal Communications Commission (FCC) to require each of the regional holding companies formed as a consequence of the divestiture of the American Telephone and Telegraph Company of its local telephone companies to submit an annual plan for increasing procurement from business enterprises which are owned by minorities and women. Directs the FCC to establish regulations for: ...