An electing company with greater than five million access lines in this state shall reduce its switched access rates on a combined originating and terminating basis as follows:
(1) the electing company shall reduce switched access rates on a combined originating and terminating basis in effect on September 1, 1999, by one cent a minute; and
(2) the electing company shall reduce switched access rates on a combined originating and terminating basis by an additional two cents a minute on the earlier of:
(A) July 1, 2000; or
(B) the date the electing company, or its affiliate formed in compliance with 47 U.S.C. § 272, as amended, actually begins providing interLATA services in this state in accordance with the authorization required by 47 U.S.C. § 271, as amended.