Bill Text: TX SB1497 | 2019-2020 | 86th Legislature | Comm Sub

NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to the registration and regulation of brokers by the Public Utility Commission of Texas.

Spectrum: Bipartisan Bill

Status: (Passed) 2019-06-15 - Effective on 9/1/19 [SB1497 Detail]

Download: Texas-2019-SB1497-Comm_Sub.html
 
 
  By: Zaffirini  S.B. No. 1497
         (In the Senate - Filed March 5, 2019; March 14, 2019, read
  first time and referred to Committee on Business & Commerce;
  March 27, 2019, reported adversely, with favorable Committee
  Substitute by the following vote:  Yeas 8, Nays 0; March 27, 2019,
  sent to printer.)
Click here to see the committee vote
 
  COMMITTEE SUBSTITUTE FOR S.B. No. 1497 By:  Zaffirini
 
 
A BILL TO BE ENTITLED
 
AN ACT
 
  relating to the registration and regulation of brokers by the
  Public Utility Commission of Texas.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter H, Chapter 39, Utilities Code, is
  amended by adding Section 39.3555 to read as follows:
         Sec. 39.3555.  REGISTRATION OF BROKERS. (a) In this
  section, "brokerage services" means:
               (1)  providing advice or procurement services to, or
  acting on behalf of, a retail electric customer regarding the
  selection of a retail electric provider, or a product or service
  offered by a retail electric provider; or
               (2)  selling or attempting to sell a product or service
  offered by a retail electric provider to a retail electric
  customer.
         (b)  A person may not provide brokerage services, including
  brokerage services offered online, in this state for compensation
  or other consideration unless the person is registered with the
  commission as a broker.
         (c)  A retail electric provider may not register as a broker.
  A broker may not sell or take title to electric energy.
         (d)  A retail electric provider may not knowingly provide
  bids or offers to a person who:
               (1)  provides brokerage services in this state for
  compensation or other consideration; and
               (2)  has not registered as a broker with the
  commission.
         (e)  A person who registers under this section shall comply
  with customer protection provisions, disclosure requirements, and
  marketing guidelines established by the commission and by this
  title.
         (f)  The commission shall adopt rules as necessary to
  implement this section.
         (g)  The commission shall process a person's application for
  registration as a broker not later than the 60th day after the date
  the person files the application.
         SECTION 2.  This Act takes effect September 1, 2019.
 
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