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
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.) | ||
COMMITTEE SUBSTITUTE FOR S.B. No. 1497 | By: Zaffirini |
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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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