SENATE BILL REPORT
HB 2697
This analysis was prepared by non-partisan legislative staff for the use of legislative members in their deliberations. This analysis is not a part of the legislation nor does it constitute a statement of legislative intent. |
As of February 24, 2010
Title: An act relating to real estate broker licensure fees.
Brief Description: Concerning real estate broker licensure fees.
Sponsors: Representatives Conway and Condotta.
Brief History: Passed House: 2/18/10, 89-2; 2/18/10, 91-0.
Committee Activity: Labor, Commerce & Consumer Protection: 2/23/10.
SENATE COMMITTEE ON LABOR, COMMERCE & CONSUMER PROTECTION |
Staff: Ingrid Mungia (786-7423)
Background: In 1989 the Washington Center for Real Estate Research (Center) was established at Washington State University. The Center's purpose is to provide research and education services to real estate licensees, others in the industry, and the public, including consumers, agencies, and communities in Washington and the Pacific Northwest. Since 1999 the Center has been funded, in part, with revenues from a $10 fee assessed on real estate licensees when their licenses are issued or renewed. The Department of Licensing (Department) collects the fees and deposits them in the Washington Real Estate Research Account (Account). Monies in the Account must be appropriated. The Department's authority to collect the fees and related provisions expire September 30, 2010.
Summary of Bill: The Department's authority to collect a $10 fee from real estate licensees to fund the Center's activities is extended for five additional years (from September 30, 2010, to September 30, 2015). Related provisions are also extended for five years.
Appropriation: None.
Fiscal Note: Available.
[OFM requested ten-year cost projection pursuant to I-960.]
Committee/Commission/Task Force Created: No.
Effective Date: The bill takes effect on July 1, 2010.
Staff Summary of Public Testimony: PRO: Real estate licensees have financially supported the activities of the Washington center for real estate research since its establishment in 1989. In 1999 the real estate license law was amended to create a dedicated account to fund the research center and the statutory duties of the center were codified. Please extend this for another five years so it will be in effect until 2015.
Persons Testifying: PRO: Bob Mitchell, Washington Realtors.