Provides that: (1) a rural electric membership corporation (REMC); (2) a nonprofit corporation that is an electric cooperative and that has at least one member that is an REMC; and (3) certain corporations resulting from a merger or consolidation of an REMC and a telephone cooperative corporation; are exempt from the requirement that a public utility obtain a certificate of public convenience and necessity before beginning the construction, purchase, or lease of certain facilities to be used for furnishing public utility service.