Bill Text: TX SB1497 | 2019-2020 | 86th Legislature | Introduced
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-Introduced.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-Introduced.html
By: Zaffirini | S.B. No. 1497 | |
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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 providing advice or | ||
procurement services to, or acting on behalf of, a retail electric | ||
customer regarding the selection of a retail electric provider, or | ||
the product or service of a retail electric provider, or selling or | ||
attempting to sell retail electric products or services offered by | ||
retail electric providers to retail electric customers, including | ||
online services. | ||
(b) A person may not provide brokerage services in this | ||
state for compensation or other consideration unless the person is | ||
registered with the commission as a broker. | ||
(c) A retail electric provider is not a broker and may not | ||
knowingly provide bids or offers to an unregistered broker, and a | ||
broker may not sell or take title to electric energy. | ||
(d) 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. | ||
(e) The commission shall adopt rules as necessary to | ||
implement this section. | ||
(f) 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. |