HB 5260 Summary

• Changes heating fuel delivery fee restrictions to prohibit fees when delivery is less than 100 gallons (instead of "not more than" 100 gallons), effective July 1, 2014.

• Requires heating fuel dealers to obtain surety bonds of at least 80 percent of total consumer funds for prepaid guaranteed price plan contracts (increased from 50 percent).

• Eliminates the option for dealers to obtain physical heating fuel inventory as an alternative to surety bonds for prepaid contracts.

• Maintains existing requirement for dealers to obtain 80 percent physical inventory or futures contracts for non-prepaid guaranteed price plan contracts within five business days of entering the contract.

• Both amendments take effect July 1, 2014.