UPDATE:

The FCC has passed the Net Neutrality rules to treat internet providers as "common carriers" under Title II of the Telecommunications Act.

As a result, this will allow the commission to prohibit providers from granting faster internet service for higher prices.See full story below.

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The FCC will be ruling on whether or not broadband internet access will be classified as a "telecommunications service under Title II."This means that the ruling will decide whether or not the FCC will classify broadband internet as a utility, which would give the commission greater regulatory power over ISPs.Regulating ISPs is seen by the FCC as necessary to protect what is referred to as the "Open Internet." The first three "bright line" rules laid out by the FCC to protect the Open Internet, as explained in an FCC fact sheet , prohibit blocking, throttling, and paid prioritization.Blocking, per the FCC's fact sheet, is explained as blocking access to "legal content, applications, services, or non-harmful devices." Throttling is explained as the impairment or degradation of "lawful Internet traffic on the basis of content, applications, services, or non-harmful devices." Paid prioritization prohibition means broadband providers "may not favor some lawful Internet traffic over other lawful traffic in exchange for consideration." The rule also bans ISPs from prioritizing content and services of their affiliates.The ruling has not yet been made, but when the decision has been announced, we will update this story. No matter what the decision, there is no doubt today's vote will have an historic impact on the way consumers and companies alike use and provide internet services. Be sure to keep checking back to IGN as we follow this ground-breaking decision.

Seth Macy is a freelance writer who just wants to be your friend. Follow him on Twitter @sethmacy , and MyIGN at sethgmacy , or check out Seth Macy Photography on Flickr.