Bill Text: TX SB1497 | 2019-2020 | 86th Legislature | Enrolled
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-Enrolled.html
| S.B. No. 1497 | ||
|
|
||
| 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 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. | ||
| (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 | ||
| chapter and Chapter 17. | ||
| (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. | ||
| ______________________________ | ______________________________ | |
| President of the Senate | Speaker of the House | |
| I hereby certify that S.B. No. 1497 passed the Senate on | ||
| April 11, 2019, by the following vote: Yeas 31, Nays 0; and that | ||
| the Senate concurred in House amendment on May 21, 2019, by the | ||
| following vote: Yeas 31, Nays 0. | ||
| ______________________________ | ||
| Secretary of the Senate | ||
| I hereby certify that S.B. No. 1497 passed the House, with | ||
| amendment, on May 16, 2019, by the following vote: Yeas 95, | ||
| Nays 38, three present not voting. | ||
| ______________________________ | ||
| Chief Clerk of the House | ||
| Approved: | ||
| ______________________________ | ||
| Date | ||
| ______________________________ | ||
| Governor | ||
