Cell Phone Early Termination Fee, Transparency, and Fairness Act or the Cell Phone ETF Act - Requires the Federal Communications Commission (FCC) to promulgate regulations requiring, at a minimum, that providers of commercial mobile service: (1) prorate any early termination fee over the term of a subscriber's contract; and (2) link the fee to the cost to the provider of the handset provided to the subscriber, reduced by the price paid by the subscriber for the handset at the start of a subscriber's contract.
Prohibits construing this Act to preempt related state or local laws.