Bill Title: Amends the Public Utilities Act. Provides that all third-party sales representatives engaged in the marketing of retail electricity supply, including exclusive and non-exclusive agents, must, prior to the customer signing a contract, disclose in writing that they are not employed by the electric utility operating in the applicable service territory and, if applicable, that they are compensated in whole or part on a commission basis. Provides that for telephonic solicitations, the disclosure may initially be made verbally prior to the customer signing a contract, with a follow-up written disclosure required prior to any customer contract being finalized. Excludes the Illinois Power Agency and its employees from the definition of "agents, brokers, and consultants engaged in the procurement or sale of retail electricity supply for third parties" and changes the requirements of parties already subject to licensure. Provides that any person or entity required to be licensed under specified provisions must, among other requirements, disclose in plain language in writing to all customers, prior to the customer signing a contract, the total anticipated remuneration to be paid to it by any third party over the period of the proposed underlying customer contract. Removes provisions requiring agents, brokers, and consultants to file copies of their verified financial statements with the Commission on an annual basis. Makes changes concerning disciplinary actions against agents, brokers, and consultants. Effective immediately.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2010-04-15 - Rule 3-9(a) / Re-referred to Assignments [SB3627 Detail]

Text: Latest bill text (Introduced) [HTML]

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