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