AN ACT REQUIRING ELECTRIC SUPPLIERS TO OBTAIN SURETY BONDS.

HB 6302 requires third-party electric suppliers operating in the state to obtain a $500,000 surety bond to guarantee compliance with state and local laws. If a supplier engages in door-to-door sales, they must also secure an additional $500,000 bond. The bill directly affects independent electricity providers who sell directly to consumers, not traditional utility companies. This policy mandates financial guarantees to ensure suppliers follow applicable regulations, with no specified penalties for non-compliance outlined in the bill text.