H-2053.1  _______________________________________________

                    SUBSTITUTE HOUSE BILL 1184

          _______________________________________________

State of Washington      56th Legislature     1999 Regular Session

By House Committee on Commerce & Labor (originally sponsored by Representatives Kenney, Carlson, Schoesler, Ogden, Edmonds and Esser)

Read first time 02/26/1999.

Promoting cooperative real estate research.

    AN ACT Relating to real estate research; adding new sections to chapter 18.85 RCW; and providing expiration dates.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION. Sec. 1.  A new section is added to chapter 18.85 RCW to read as follows:

    (1) A fee of ten dollars is created and shall be assessed on each real estate broker, associate broker, and salesperson originally licensed after October 1, 1999, and upon each renewal of a license with an expiration date after October 1, 1999, including renewals of inactive licenses.

    (2) This section expires September 30, 2005.

NEW SECTION. Sec. 2.  A new section is added to chapter 18.85 RCW to read as follows:

    (1) The Washington real estate research account is created in the state treasury.  All receipts from the fee under section 1 of this act shall be deposited into the account.  Expenditures from the account may be used only for the purposes of section 3 of this act.

    (2) This section expires September 30, 2005.

NEW SECTION. Sec. 3.  A new section is added to chapter 18.85 RCW to read as follows:

    (1) The purpose of a real estate research center in Washington state is to provide credible research, value-added information, education services, and project-oriented research to real estate licensees, real estate consumers, real estate service providers, institutional customers, public agencies, and communities in Washington state and the Pacific Northwest region.  The center may:

    (a) Conduct studies and research on affordable housing and strategies to meet the affordable housing needs of the state;

    (b) Conduct studies in all areas directly or indirectly related to real estate and urban or rural economics and economically isolated communities;

    (c) Disseminate findings and results of real estate research conducted at or by the center or elsewhere, using a variety of dissemination media;

    (d) Supply research results and educational expertise to the Washington state real estate commission to support its regulatory functions, as requested;

    (e) Prepare information of interest to real estate consumers and make the information available to the general public, universities, or colleges, and appropriate state agencies;

    (f) Encourage economic growth and development within the state of Washington;

    (g) Support the professional development and continuing education of real estate licensees in Washington;

    (h) Study and recommend changes in state statutes relating to real estate; and

    (i) Publish, within three months of the conclusion of each fiscal year, a report that includes both a content review and a summary financial reporting of the public funds expended by the center.

    (2) The director shall establish a memorandum of understanding with an institution of higher learning that establishes a real estate research center for the purposes under subsection (1) of this section.

    (3) This section expires September 30, 2005.

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