SENATE BILL REPORT

                            SB 5358

               AS PASSED SENATE, MARCH 13, 1993

Brief Description:  Creating an appropriated real estate education account.

SPONSORS: Senators Pelz, Fraser, Prince and Winsley; by request of Department of Licensing

SENATE COMMITTEE ON WAYS & MEANS

Majority Report:  Do pass. 

     Signed by Senators Rinehart, Chairman; Spanel, Vice Chairman; Bauer, Bluechel, Cantu, Hargrove, Hochstatter, Jesernig, Moyer, Quigley, Snyder, Sutherland, Talmadge, and West.

Staff:  Martin Chaw (786‑7715)

Hearing Dates: February 17, 1993; February 24, 1993

BACKGROUND:

In the 1992 session, the Legislature adopted SB 6184, establishing ongoing education guidelines for real estate brokers and salespersons.  The legislation also created the nonappropriated real estate education account for the benefit of real estate education programs.  Revenues to support this program are raised through fines charged to real estate licenses and through 25 percent of the interest earnings from the brokers' trust fund account.

The Governor partially vetoed SB 6184 removing the nonappropriated real estate education account and directed the Department of Licensing to resubmit legislation in the 1993 session establishing the account with an appropriated status.

SUMMARY:

The appropriated real estate account is established within the Department of Licensing.

Appropriation:  none

Revenue:  none

Fiscal Note:  available

Effective Date:  July 1, 1993

TESTIMONY FOR:

The bill would create an accountability mechanism for the real estate education program.

TESTIMONY AGAINST:  None

TESTIFIED:  Bob Mitchell, Dept. of Licensing; Jim Hudson, Washington Association of Realtors