(a)  Within six (6) months of receiving its first request to collocate small wireless facilities on authority poles located within the public rights-of-way, but in no event later than April 1, 2018, an authority shall establish, by ordinance, regulation, or rule, nondiscriminatory, competitively neutral, and commercially reasonable rates, terms, and conditions for such collocation that are consistent with the provisions of this chapter. Aside from the application processing fee allowed under § 39-32-3, an authority shall not charge on an annual recurring basis more for such a collocation than one hundred and fifty dollars ($150) or the rate produced by applying the formula adopted by the Federal Communications Commission for telecommunications attachments under 47 U.S.C. § 224(e). The fee limitation shall not apply to authority structures.

(b)  An authority shall authorize the collocation of small wireless facilities on authority poles not located within the public rights-of-way and on authority structures to the same extent the authority permits access to the poles and structures for other commercial projects or uses, and may authorize the collocation if the authority has not previously permitted access. The collocation shall be subject to reasonable and nondiscriminatory rates, terms, and conditions as provided by ordinance or in one or more agreements between the wireless provider and the authority. An authority may not charge on an annual recurring basis more for such a collocation than the amount charged for similar commercial projects or uses to occupy or use the same amount of space on similarly situated property.