S.B. No. 1497
AN ACT
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