BILL REQ. #: H-4869.1
| State of Washington | 58th Legislature | 2004 Regular Session |
READ FIRST TIME 02/06/04.
AN ACT Relating to real estate appraisers; amending RCW 18.140.005, 18.140.010, 18.140.020, 18.140.030, 18.140.060, 18.140.070, 18.140.100, 18.140.110, 18.140.120, 18.140.130, 18.140.140, 18.140.150, 18.140.155, 18.140.160, 18.140.170, 18.140.200, 18.140.202, 18.140.220, and 18.140.260; reenacting and amending RCW 43.84.092 and 43.84.092; adding a new section to chapter 18.140 RCW; providing effective dates; providing an expiration date; and declaring an emergency.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1 RCW 18.140.005 and 1996 c 182 s 1 are each amended to read
as follows:
(1) It is the intent of the legislature that only individuals who
meet and maintain minimum standards of competence and conduct
established under this chapter for certified ((or)), licensed, or
registered real estate appraisers may provide real estate appraisal
services to the public.
(2) It is the further intent of the legislature to provide for the
proper supervision and training of new entrants to the appraiser
profession through the implementation of the state-registered appraiser
trainee classification.
Sec. 2 RCW 18.140.010 and 2000 c 249 s 1 are each amended to read
as follows:
((As used in this chapter,)) The ((following terms have the
meanings indicated)) definitions in this section apply throughout this
chapter unless the context clearly requires otherwise.
(1) "Appraisal" means the act or process of estimating value; an
estimate of value; or of or pertaining to appraising and related
functions.
(2) "Appraisal report" means any communication, written or oral, of
an appraisal, review, or consulting service in accordance with the
standards of professional conduct or practice, adopted by the director,
that is transmitted to the client upon completion of an assignment.
(3) "Appraisal assignment" means an engagement for which an
appraiser is employed or retained to act, or would be perceived by
third parties or the public as acting, as a disinterested third party
in rendering an unbiased analysis, opinion, or conclusion relating to
the value of specified interests in, or aspects of, identified real
estate. The term "appraisal assignment" may apply to valuation work
and analysis work.
(4) "Brokers price opinion" means an oral or written report of
property value that is prepared by a real estate broker or salesperson
licensed under chapter 18.85 RCW.
(5) "Certified appraisal" means an appraisal prepared or signed by
a state-certified real estate appraiser. A certified appraisal
represents to the public that it meets the appraisal standards defined
in this chapter.
(6) "Client" means any party for whom an appraiser performs a
service.
(7) "Commission" means the real estate appraiser commission of the
state of Washington.
(8) "Comparative market analysis" means a brokers price opinion.
(9) "Department" means the department of licensing.
(10) "Director" means the director of the department of licensing.
(11) "Expert review appraiser" means a state-certified or state-licensed real estate appraiser chosen by the director for the purpose
of providing appraisal review assistance to the director.
(12) "Federal department" means an executive department of the
United States of America specifically concerned with housing finance
issues, such as the department of housing and urban development, the
department of veterans affairs, or their legal federal successors.
(13) "Federal financial institutions regulatory agency" means the
board of governors of the federal reserve system, the federal deposit
insurance corporation, the office of the comptroller of the currency,
the office of thrift supervision, the national credit union
administration, their successors and/or such other agencies as may be
named in future amendments to 12 U.S.C. Sec. 3350(6).
(14) "Federal secondary mortgage marketing agency" means the
federal national mortgage association, the government national mortgage
association, the federal home loan mortgage corporation, their
successors and/or such other similarly functioning housing finance
agencies as may be federally chartered in the future.
(15) "Federally related transaction" means any real estate-related
financial transaction that the federal financial institutions
regulatory agency or the resolution trust corporation engages in,
contracts for, or regulates; and that requires the services of an
appraiser.
(16) "Financial institution" means any person doing business under
the laws of this state or the United States relating to banks, bank
holding companies, savings banks, trust companies, savings and loan
associations, credit unions, consumer loan companies, and the
affiliates, subsidiaries, and service corporations thereof.
(17) "Licensed appraisal" means an appraisal prepared or signed by
a state-licensed real estate appraiser. A licensed appraisal
represents to the public that it meets the appraisal standards defined
in this chapter.
(18) "Mortgage broker" for the purpose of this chapter means a
mortgage broker licensed under chapter 19.146 RCW, any mortgage broker
approved and subject to audit by the federal national mortgage
association, the government national mortgage association, or the
federal home loan mortgage corporation as provided in RCW 19.146.020,
any mortgage broker approved by the United States secretary of housing
and urban development for participation in any mortgage insurance under
the national housing act, 12 U.S.C. Sec. 1201, and the affiliates,
subsidiaries, and service corporations thereof.
(19) "Real estate" means an identified parcel or tract of land,
including improvements, if any.
(20) "Real estate-related financial transaction" means any
transaction involving:
(a) The sale, lease, purchase, investment in, or exchange of real
property, including interests in property, or the financing thereof;
(b) The refinancing of real property or interests in real property;
and
(c) The use of real property or interests in property as security
for a loan or investment, including mortgage-backed securities.
(21) "Real property" means one or more defined interests, benefits,
or rights inherent in the ownership of real estate.
(22) "Review" means the act or process of critically studying an
appraisal report prepared by another.
(23) "Specialized appraisal services" means all appraisal services
which do not fall within the definition of appraisal assignment. The
term "specialized appraisal service" may apply to valuation work and to
analysis work. Regardless of the intention of the client or employer,
if the appraiser would be perceived by third parties or the public as
acting as a disinterested third party in rendering an unbiased
analysis, opinion, or conclusion, the work is classified as an
appraisal assignment and not a specialized appraisal service.
(24) "State-certified general real estate appraiser" means a person
certified by the director to develop and communicate real estate
appraisals of all types of property. A state-certified general real
estate appraiser may designate or identify an appraisal rendered by him
or her as a "certified appraisal."
(25) "State-certified residential real estate appraiser" means a
person certified by the director to develop and communicate real estate
appraisals of all types of residential property of one to four units
without regard to transaction value or complexity and nonresidential
property having a transaction value as specified in rules adopted by
the director. A state certified residential real estate appraiser may
designate or identify an appraisal rendered by him or her as a
"certified appraisal."
(26) "State-licensed real estate appraiser" means a person licensed
by the director to develop and communicate real estate appraisals of
noncomplex one to four residential units and complex one to four
residential units and nonresidential property having transaction values
as specified in rules adopted by the director.
(27) "State-registered appraiser trainee," "trainee," or "trainee
real estate appraiser" means a person registered by the director under
section 20 of this act to develop and communicate real estate
appraisals under the immediate and personal direction of a state-certified real estate appraiser. Appraisals are limited to those types
of properties that the supervisory appraiser is permitted by their
current credential, and that the supervisory appraiser is competent and
qualified to appraise. By signing the appraisal report, or being
identified in the certification or addenda as having lent significant
professional assistance, the state-registered appraiser trainee accepts
total and complete individual responsibility for all content, analyses,
and conclusions in the report.
(28) "Supervisory appraiser" means a person holding a currently
valid certificate issued by the director as a state-certified real
estate appraiser providing direct supervision to another state-certified, state-licensed, or state-registered appraiser trainee. The
supervisory appraiser must be in good standing in each jurisdiction
that he or she is credentialed. The supervisory appraiser must sign
all appraisal reports. By signing the appraisal report, the
supervisory appraiser accepts full responsibility for all content,
analyses, and conclusions in the report.
Sec. 3 RCW 18.140.020 and 1998 c 120 s 1 are each amended to read
as follows:
(1) No person other than a state-certified or state-licensed real
estate appraiser may receive compensation of any form for a real estate
appraisal or an appraisal review, except that a state-registered
appraiser trainee may receive compensation from one or more supervisory
appraisers or the supervisory appraiser's employer for appraisal
assignments. ((However,))
(2) Compensation may be provided for brokers price opinions
prepared by a real estate licensee, licensed under chapter 18.85 RCW.
(((2))) (3) No person, other than a state-certified ((or)), state-licensed real estate appraiser, or a state-registered appraiser trainee
may assume or use that title or any title, designation, or abbreviation
likely to create the impression of certification ((or)), licensure, or
registration as a real estate appraiser by this state.
(((3))) (4) A person who is not certified ((or)), licensed, or
registered under this chapter shall not prepare any appraisal of real
estate located in this state, except as provided under subsection
(((1))) (2) of this section.
(((4))) (5) This section does not preclude a staff employee of a
governmental entity from performing an appraisal or an appraisal
assignment within the scope of his or her employment insofar as the
performance of official duties for the governmental entity are
concerned. Such an activity for the benefit of the governmental entity
is exempt from the requirements of this chapter.
(((5))) (6) This chapter does not preclude an individual person
licensed by the state of Washington as a real estate broker or as a
real estate salesperson from issuing a brokers price opinion. However,
if the brokers price opinion is written, or given as evidence in any
legal proceeding, and is issued to a person who is not a prospective
seller, buyer, lessor, or lessee as the only intended user, then the
brokers price opinion shall contain a statement, in an obvious location
within the written document or specifically and affirmatively in spoken
testimony, that substantially states: "This brokers price opinion is
not an appraisal as defined in chapter 18.140 RCW and has been prepared
by a real estate licensee, licensed under chapter 18.85 RCW, who
. . . . . (is/is not) also state-certified or state-licensed as a real
estate appraiser under chapter 18.140 RCW." However, the brokers price
opinion issued under this subsection may not be used as an appraisal in
conjunction with a federally related transaction.
(((6))) (7) This section does not apply to an appraisal or an
appraisal review performed for a financial institution or mortgage
broker by an employee or third party, when such appraisal or appraisal
review is not required to be performed by a state-certified or state-licensed real estate appraiser by the appropriate federal financial
institutions regulatory agency.
(((7))) (8) This section does not apply to an attorney licensed to
practice law in this state or to a certified public accountant, as
defined in RCW 18.04.025, who evaluates real property in the normal
scope of his or her professional services.
Sec. 4 RCW 18.140.030 and 2002 c 86 s 238 are each amended to
read as follows:
The director shall have the following powers and duties:
(1) To adopt rules in accordance with chapter 34.05 RCW necessary
to implement this chapter and chapter 18.235 RCW, with the advice and
approval of the commission;
(2) To receive and approve or deny applications for certification
or licensure as a state-certified or state-licensed real estate
appraiser and for registration as a state-registered appraiser trainee
under this chapter; to establish appropriate administrative procedures
for the processing of such applications; to issue certificates ((or)),
licenses, or registrations to qualified applicants pursuant to the
provisions of this chapter; and to maintain a ((register)) roster of
the names and addresses of individuals who are currently certified
((or)), licensed, or registered under this chapter;
(3) To provide administrative assistance to the members of and to
keep records for the real estate appraiser commission;
(4) To solicit bids and enter into contracts with educational
testing services or organizations for the preparation of questions and
answers for certification or licensure examinations;
(5) To administer or contract for administration of certification
or licensure examinations at locations and times as may be required to
carry out the responsibilities under this chapter;
(6) To enter into contracts for professional services determined to
be necessary for adequate enforcement of this chapter;
(7) To consider recommendations by the real estate appraiser
commission relating to the experience, education, and examination
requirements for each classification of state-certified appraiser and
for licensure;
(8) To consider recommendations by the real estate appraiser
commission relating to the educational requirements for the state-registered appraiser trainee classification;
(9) To consider recommendations by the real estate appraiser
commission relating to the maximum number of state-registered appraiser
trainees that each supervisory appraiser will be permitted to
supervise;
(10) To consider recommendations by the real estate appraiser
commission relating to continuing education requirements as a
prerequisite to renewal of certification or licensure;
(((9))) (11) To consider recommendations by the real estate
appraiser commission relating to standards of professional appraisal
conduct or practice in the enforcement of this chapter;
(((10))) (12) To employ such professional, clerical, and technical
assistance as may be necessary to properly administer the work of the
director;
(((11))) (13) To establish forms necessary to administer this
chapter;
(((12))) (14) To establish an expert review appraiser roster
comprised of state-certified or licensed real estate appraisers whose
purpose is to assist the director by applying their individual
expertise by reviewing real estate appraisals for compliance with this
chapter. Qualifications to act as an expert review appraiser shall be
established by the director with the advice of the commission. An
application to serve as an expert review appraiser shall be submitted
to the real estate appraiser program, and the roster of accepted expert
review appraisers shall be maintained by the department. An expert
review appraiser may be added to or deleted from that roster by the
director. The expert review appraiser shall be reimbursed for expenses
in the same manner as the department reimburses the commission; and
(((13))) (15) To do all other things necessary to carry out the
provisions of this chapter and minimally meet the requirements of
federal guidelines regarding state certification or licensure of
appraisers and registration of state-registered appraiser trainees that
the director determines are appropriate for state-certified and state-licensed appraisers and state-registered appraiser trainees in this
state.
Sec. 5 RCW 18.140.060 and 1993 c 30 s 6 are each amended to read
as follows:
(1) Applications for examinations, original certification ((or)),
licensure, or registration, and renewal certification ((or)),
licensure, or registration shall be made in writing to the department
on forms approved by the director. Applications for original and
renewal certification ((or)), licensure, or registration shall include
a statement confirming that the applicant shall comply with applicable
rules and regulations and that the applicant understands the penalties
for misconduct.
(2) The appropriate fees shall accompany all applications for
examination, reexamination, original certification ((or)), licensure,
or registration, and renewal certification ((or)), licensure, or
registration.
Sec. 6 RCW 18.140.070 and 1993 c 30 s 7 are each amended to read
as follows:
There shall be two categories of state-certified real estate
appraisers, one category of state-licensed real estate appraisers, and
((two categories of state-certified real estate appraisers)) one
category of state-registered appraiser trainee as follows:
(1) The ((state-licensed)) state-certified general real estate
appraiser;
(2) The state-certified residential real estate appraiser;
(3) The ((state-certified general)) state-licensed real estate
appraiser; and
(4) The state-registered appraiser trainee.
Sec. 7 RCW 18.140.100 and 1993 c 30 s 10 are each amended to read
as follows:
An original ((license or)) certificate or license shall be issued
to persons who have satisfactorily passed the written examination as
endorsed by the Appraiser Qualifications Board of the Appraisal
Foundation and as adopted by the director.
Sec. 8 RCW 18.140.110 and 1993 c 30 s 11 are each amended to read
as follows:
Every applicant for ((licensing or)) certification, licensing, or
registration who is not a resident of this state shall submit, with the
application for ((licensing or)) certification, licensing, or
registration an irrevocable consent that service of process upon him or
her may be made by service on the director if, in an action against the
applicant in a court of this state arising out of the applicant's
activities as a state-certified or state-licensed real estate appraiser
or ((state-certified real estate)) state-registered appraiser trainee,
the plaintiff cannot, in the exercise of due diligence, obtain personal
service upon the applicant.
Sec. 9 RCW 18.140.120 and 1993 c 30 s 12 are each amended to read
as follows:
An applicant for ((licensure or)) certification or licensure who is
currently ((licensed or)) certified or licensed and in good standing
under the laws of another state may obtain a ((license or)) certificate
or license as a Washington ((state-licensed or)) state-certified or
state-licensed real estate appraiser without being required to satisfy
the examination requirements of this chapter if: The director
determines that the ((licensure or)) certification or licensure
requirements are substantially similar to those found in Washington
state; and that the other state has a written reciprocal agreement to
provide similar treatment to holders of Washington state ((licenses
and/)) certificates and/or licenses.
Sec. 10 RCW 18.140.130 and 1996 c 182 s 6 are each amended to
read as follows:
(1) Each original and renewal ((license or)) certificate, license,
or registration issued under this chapter shall expire on the
applicant's second birthday following issuance of the ((license or))
certificate, license, or registration.
(2) To be renewed as a ((state-licensed or)) state-certified or
state-licensed real estate appraiser or state-registered appraiser
trainee, the holder of a valid ((license or)) certificate, license, or
registration shall apply and pay the prescribed fee to the director no
earlier than one hundred twenty days prior to the expiration date of
the ((license or)) certificate, license, or registration and shall
demonstrate satisfaction of any continuing education requirements.
(3) If a person fails to renew a ((license or)) certificate,
license, or registration prior to its expiration and no more than one
year has passed since the person last held a valid ((license or))
certificate, license, or registration, the person may obtain a renewal
((license or)) certificate, license, or registration by satisfying all
of the requirements for renewal and paying late renewal fees.
The director shall cancel the ((license or)) certificate, license,
or registration of any person whose renewal fee is not received within
one year from the date of expiration. A person may obtain a new
((license or)) certificate, license, or registration by satisfying the
procedures and qualifications for initial ((licensure or))
certification, licensure, or registration, including the successful
completion of any applicable examinations.
Sec. 11 RCW 18.140.140 and 1996 c 182 s 7 are each amended to
read as follows:
(1) A ((license or)) certificate, license, or registration issued
under this chapter shall bear the signature or facsimile signature of
the director and a ((license or)) certificate, license, or registration
number assigned by the director.
(2) Each ((state-licensed or)) state-certified or state-licensed
real estate appraiser or state-registered appraiser trainee shall place
his or her ((license or)) certificate, license, or registration number
adjacent to or immediately below the title (("state-licensed real
estate appraiser,")) "state-certified ((residential)) general real
estate appraiser," ((or)) "state-certified ((general)) residential real
estate appraiser," "state-licensed real estate appraiser," or "state-registered appraiser trainee" when used in an appraisal report or in a
contract or other instrument used by the ((licensee or)) certificate
holder, licensee, or registered appraiser trainee in conducting real
property appraisal activities, except that the ((license or))
certificate, license, or registration number shall not be required to
appear when the title is not accompanied by a signature as is typical
on such promotional and stationery items as brochures, business cards,
forms, or letterhead.
(3) Each state-registered appraiser trainee shall place his or her
registration number adjacent to or immediately below the title "state-registered appraiser trainee" when used in an appraisal report and the
supervisory appraiser shall place his or her certificate number
adjacent to or immediately below the title "state-certified general
real estate appraiser" or "state-certified residential real estate
appraiser."
Sec. 12 RCW 18.140.150 and 1996 c 182 s 8 are each amended to
read as follows:
(1) The term (("state-licensed" or)) "state-certified real estate
appraiser," "state-licensed real estate appraiser," or "state-registered appraiser trainee" may only be used to refer to individuals
who hold the ((license or)) certificate, license, or registration and
may not be used following or immediately in connection with the name or
signature of a firm, partnership, corporation, group, or limited
liability company, or in such manner that it might be interpreted as
referring to a firm, partnership, corporation, group, limited liability
company, or anyone other than an individual holder of the ((license
or)) certificate, license, or registration.
(2) No ((license or)) certificate, license, or registration may be
issued under this chapter to a corporation, partnership, firm, limited
liability company, or group. This shall not be construed to prevent a
((state-licensed or)) state-certified or state-licensed appraiser from
signing an appraisal report on behalf of a corporation, partnership,
firm, group practice, or limited liability company, nor may it be
construed to prevent a state-registered appraiser trainee from signing
an appraisal report under the supervision of a state-certified real
estate appraiser on behalf of a corporation, partnership, firm, group
practice, or limited liability company.
Sec. 13 RCW 18.140.155 and 2001 c 78 s 1 are each amended to read
as follows:
(1) A real estate appraiser from another state who is ((licensed
or)) certified or licensed by another state may apply for registration
to receive temporary ((licensing or)) certification or licensing in
Washington by paying a fee and filing a notarized application with the
department on a form provided by the department.
(2) The director is authorized to adopt by rule the term or
duration of the ((licensing and)) certification and licensing
privileges granted under the provisions of this section. ((Licensing
or)) Certification or licensing shall not be renewed. However, an
applicant may receive an extension of a temporary practice permit to
complete an assignment, provided that a written request is received by
the department prior to the expiration date, stating the reason for the
extension.
(3) A temporary practice permit issued under this section allows an
appraiser to perform independent appraisal services required by a
contract for appraisal services.
(4) Persons granted temporary ((licensing or)) certification or
licensing privileges under this section shall not advertise or
otherwise hold themselves out as being ((licensed or)) certified or
licensed by the state of Washington.
(5) Persons granted temporary ((licensure or)) certification or
licensure are subject to all provisions under this chapter.
Sec. 14 RCW 18.140.160 and 2002 c 86 s 239 are each amended to
read as follows:
In addition to the unprofessional conduct described in RCW
18.235.130, the director may take disciplinary action for the following
conduct, acts, or conditions:
(1) Failing to meet the minimum qualifications for state
((licensure or)) certification, licensure, or registration established
by or pursuant to this chapter;
(2) Paying money other than the fees provided for by this chapter
to any employee of the director or the commission to procure state
((licensure or)) certification, licensure, or registration under this
chapter;
(3) Continuing to act as a ((state-licensed or)) state-certified
real estate appraiser, state-licensed real estate appraiser, or state-registered appraiser trainee when his or her ((license or))
certificate, license, or registration is on an expired status;
(4) Violating any provision of this chapter or any lawful rule made
by the director pursuant thereto;
(5) Issuing an appraisal report on any real property in which the
appraiser has an interest unless his or her interest is clearly stated
in the appraisal report; and
(6) Being affiliated as an ((employee or independent contractor
with a state-licensed or state-certified real estate appraiser when the
appraiser's license or certificate has been revoked due to disciplinary
action)) employer, independent contractor, or supervisory appraiser of
a state-certified real estate appraiser, state-licensed real estate
appraiser, or state-registered appraiser trainee whose certification,
license, or registration is currently in a suspended or revoked status.
Sec. 15 RCW 18.140.170 and 2002 c 86 s 240 are each amended to
read as follows:
The director may investigate the actions of a ((state-licensed or))
state-certified or state-licensed real estate appraiser or a state-registered appraiser trainee or an applicant for ((licensure or))
certification, licensure, or registration or ((relicensure or))
recertification, relicensure, or reregistration. Upon receipt of
information indicating that a ((state-licensed or)) state-certified or
state-licensed real estate appraiser or state-registered appraiser
trainee under this chapter may have violated this chapter, the director
may cause one or more of the staff investigators to make an
investigation of the facts to determine whether or not there is
admissible evidence of any such violation. If technical assistance is
required, a staff investigator may consult with one or more of the
members of the commission.
Sec. 16 RCW 18.140.200 and 1996 c 293 s 19 are each amended to
read as follows:
The director shall suspend the certificate ((or)), license, or
registration of any person who has been certified by a lending agency
and reported to the director for nonpayment or default on a federally
or state-guaranteed educational loan or service-conditional
scholarship. Prior to the suspension, the agency must provide the
person an opportunity for a brief adjudicative proceeding under RCW
34.05.485 through 34.05.494 and issue a finding of nonpayment or
default on a federally or state-guaranteed educational loan or service-conditional scholarship. The person's certificate ((or)), license, or
registration shall not be reissued until the person provides the
director a written release issued by the lending agency stating that
the person is making payments on the loan in accordance with a
repayment agreement approved by the lending agency. If the person has
continued to meet all other requirements for certification ((or)),
licensure, or registration during the suspension, reinstatement shall
be automatic upon receipt of the notice and payment of any
reinstatement fee the director may impose.
Sec. 17 RCW 18.140.202 and 1997 c 58 s 832 are each amended to
read as follows:
The director shall immediately suspend any ((license or))
certificate, license, or registration issued under this chapter if the
holder has been certified pursuant to RCW 74.20A.320 by the department
of social and health services as a person who is not in compliance with
a support order ((or a residential or visitation order)). If the
person has continued to meet all other requirements for reinstatement
during the suspension, reissuance of the ((license or)) certificate,
license, or registration shall be automatic upon the director's receipt
of a release issued by the department of social and health services
stating that the person is in compliance with the order.
Sec. 18 RCW 18.140.220 and 1996 c 182 s 12 are each amended to
read as follows:
Any person acting as a state-certified or state-licensed real
estate appraiser or state-registered appraiser trainee without a
certificate ((or)), license, or registration that is currently valid is
guilty of a misdemeanor.
Sec. 19 RCW 18.140.260 and 2002 c 86 s 241 are each amended to
read as follows:
The real estate appraiser commission account is created in the
state treasury. All fees received by the department for certificates,
licenses, registrations, renewals, examinations, and audits must be
forwarded to the state treasurer who must credit the money to the
account. All fines and civil penalties ordered pursuant to RCW
18.140.020, 18.140.160, or 18.235.110 against holders of ((licenses,))
certificates, licenses, or registrations issued under the provisions of
this chapter must be paid to the account. All expenses incurred in
carrying out the certification, licensing, and registration activities
of the department under this chapter must be paid from the account as
authorized by legislative appropriation. Any residue in the account
shall be accumulated and shall not revert to the general fund at the
end of the biennium. ((All earnings of investments of balances in the
account shall be credited to the general fund.)) Any fund balance
remaining in the general fund attributable to the real estate appraiser
commission account as of July 1, 2003, must be transferred to the real
estate appraiser commission account.
NEW SECTION. Sec. 20 A new section is added to chapter 18.140
RCW to read as follows:
(1) The director may issue an original registration as a state-registered trainee real estate appraiser, to be valid for a term not
exceeding two years together with a maximum of two renewals, which must
be completed within seven years from the original date of registration,
unless either period is interrupted by service in the armed forces of
the United States of America.
(2) A trainee real estate appraiser may not provide appraisal
services other than through and under the direct supervision of a
state-certified general real estate appraiser or a state-certified
residential real estate appraiser.
Sec. 21 RCW 43.84.092 and 2003 c 361 s 602, 2003 c 324 s 1, and
2003 c 48 s 2 are each reenacted and amended to read as follows:
(1) All earnings of investments of surplus balances in the state
treasury shall be deposited to the treasury income account, which
account is hereby established in the state treasury.
(2) The treasury income account shall be utilized to pay or receive
funds associated with federal programs as required by the federal cash
management improvement act of 1990. The treasury income account is
subject in all respects to chapter 43.88 RCW, but no appropriation is
required for refunds or allocations of interest earnings required by
the cash management improvement act. Refunds of interest to the
federal treasury required under the cash management improvement act
fall under RCW 43.88.180 and shall not require appropriation. The
office of financial management shall determine the amounts due to or
from the federal government pursuant to the cash management improvement
act. The office of financial management may direct transfers of funds
between accounts as deemed necessary to implement the provisions of the
cash management improvement act, and this subsection. Refunds or
allocations shall occur prior to the distributions of earnings set
forth in subsection (4) of this section.
(3) Except for the provisions of RCW 43.84.160, the treasury income
account may be utilized for the payment of purchased banking services
on behalf of treasury funds including, but not limited to, depository,
safekeeping, and disbursement functions for the state treasury and
affected state agencies. The treasury income account is subject in all
respects to chapter 43.88 RCW, but no appropriation is required for
payments to financial institutions. Payments shall occur prior to
distribution of earnings set forth in subsection (4) of this section.
(4) Monthly, the state treasurer shall distribute the earnings
credited to the treasury income account. The state treasurer shall
credit the general fund with all the earnings credited to the treasury
income account except:
(a) The following accounts and funds shall receive their
proportionate share of earnings based upon each account's and fund's
average daily balance for the period: The capitol building
construction account, the Cedar River channel construction and
operation account, the Central Washington University capital projects
account, the charitable, educational, penal and reformatory
institutions account, the common school construction fund, the county
criminal justice assistance account, the county sales and use tax
equalization account, the data processing building construction
account, the deferred compensation administrative account, the deferred
compensation principal account, the department of retirement systems
expense account, the drinking water assistance account, the drinking
water assistance administrative account, the drinking water assistance
repayment account, the Eastern Washington University capital projects
account, the education construction fund, the election account, the
emergency reserve fund, The Evergreen State College capital projects
account, the federal forest revolving account, the health services
account, the public health services account, the health system capacity
account, the personal health services account, the state higher
education construction account, the higher education construction
account, the highway infrastructure account, the industrial insurance
premium refund account, the judges' retirement account, the judicial
retirement administrative account, the judicial retirement principal
account, the local leasehold excise tax account, the local real estate
excise tax account, the local sales and use tax account, the medical
aid account, the mobile home park relocation fund, the multimodal
transportation account, the municipal criminal justice assistance
account, the municipal sales and use tax equalization account, the
natural resources deposit account, the oyster reserve land account, the
perpetual surveillance and maintenance account, the public employees'
retirement system plan 1 account, the public employees' retirement
system combined plan 2 and plan 3 account, the public facilities
construction loan revolving account beginning July 1, 2004, the public
health supplemental account, the Puyallup tribal settlement account,
the real estate appraiser commission account, the regional
transportation investment district account, the resource management
cost account, the site closure account, the special wildlife account,
the state employees' insurance account, the state employees' insurance
reserve account, the state investment board expense account, the state
investment board commingled trust fund accounts, the supplemental
pension account, the Tacoma Narrows toll bridge account, the teachers'
retirement system plan 1 account, the teachers' retirement system
combined plan 2 and plan 3 account, the tobacco prevention and control
account, the tobacco settlement account, the transportation
infrastructure account, the tuition recovery trust fund, the University
of Washington bond retirement fund, the University of Washington
building account, the volunteer fire fighters' and reserve officers'
relief and pension principal fund, the volunteer fire fighters' and
reserve officers' administrative fund, the Washington fruit express
account, the Washington judicial retirement system account, the
Washington law enforcement officers' and fire fighters' system plan 1
retirement account, the Washington law enforcement officers' and fire
fighters' system plan 2 retirement account, the Washington school
employees' retirement system combined plan 2 and 3 account, the
Washington state health insurance pool account, the Washington state
patrol retirement account, the Washington State University building
account, the Washington State University bond retirement fund, the
water pollution control revolving fund, and the Western Washington
University capital projects account. Earnings derived from investing
balances of the agricultural permanent fund, the normal school
permanent fund, the permanent common school fund, the scientific
permanent fund, and the state university permanent fund shall be
allocated to their respective beneficiary accounts. All earnings to be
distributed under this subsection (4)(a) shall first be reduced by the
allocation to the state treasurer's service fund pursuant to RCW
43.08.190.
(b) The following accounts and funds shall receive eighty percent
of their proportionate share of earnings based upon each account's or
fund's average daily balance for the period: The aeronautics account,
the aircraft search and rescue account, the county arterial
preservation account, the department of licensing services account, the
essential rail assistance account, the ferry bond retirement fund, the
grade crossing protective fund, the high capacity transportation
account, the highway bond retirement fund, the highway safety account,
the motor vehicle fund, the motorcycle safety education account, the
pilotage account, the public transportation systems account, the Puget
Sound capital construction account, the Puget Sound ferry operations
account, the recreational vehicle account, the rural arterial trust
account, the safety and education account, the special category C
account, the state patrol highway account, the transportation 2003
account (nickel account), the transportation equipment fund, the
transportation fund, the transportation improvement account, the
transportation improvement board bond retirement account, and the urban
arterial trust account.
(5) In conformance with Article II, section 37 of the state
Constitution, no treasury accounts or funds shall be allocated earnings
without the specific affirmative directive of this section.
Sec. 22 RCW 43.84.092 and 2003 c 361 s 602, 2003 c 324 s 1, 2003
c 150 s 2, and 2003 c 48 s 2 are each reenacted and amended to read as
follows:
(1) All earnings of investments of surplus balances in the state
treasury shall be deposited to the treasury income account, which
account is hereby established in the state treasury.
(2) The treasury income account shall be utilized to pay or receive
funds associated with federal programs as required by the federal cash
management improvement act of 1990. The treasury income account is
subject in all respects to chapter 43.88 RCW, but no appropriation is
required for refunds or allocations of interest earnings required by
the cash management improvement act. Refunds of interest to the
federal treasury required under the cash management improvement act
fall under RCW 43.88.180 and shall not require appropriation. The
office of financial management shall determine the amounts due to or
from the federal government pursuant to the cash management improvement
act. The office of financial management may direct transfers of funds
between accounts as deemed necessary to implement the provisions of the
cash management improvement act, and this subsection. Refunds or
allocations shall occur prior to the distributions of earnings set
forth in subsection (4) of this section.
(3) Except for the provisions of RCW 43.84.160, the treasury income
account may be utilized for the payment of purchased banking services
on behalf of treasury funds including, but not limited to, depository,
safekeeping, and disbursement functions for the state treasury and
affected state agencies. The treasury income account is subject in all
respects to chapter 43.88 RCW, but no appropriation is required for
payments to financial institutions. Payments shall occur prior to
distribution of earnings set forth in subsection (4) of this section.
(4) Monthly, the state treasurer shall distribute the earnings
credited to the treasury income account. The state treasurer shall
credit the general fund with all the earnings credited to the treasury
income account except:
(a) The following accounts and funds shall receive their
proportionate share of earnings based upon each account's and fund's
average daily balance for the period: The capitol building
construction account, the Cedar River channel construction and
operation account, the Central Washington University capital projects
account, the charitable, educational, penal and reformatory
institutions account, the common school construction fund, the county
criminal justice assistance account, the county sales and use tax
equalization account, the data processing building construction
account, the deferred compensation administrative account, the deferred
compensation principal account, the department of retirement systems
expense account, the drinking water assistance account, the drinking
water assistance administrative account, the drinking water assistance
repayment account, the Eastern Washington University capital projects
account, the education construction fund, the election account, the
emergency reserve fund, The Evergreen State College capital projects
account, the federal forest revolving account, the health services
account, the public health services account, the health system capacity
account, the personal health services account, the state higher
education construction account, the higher education construction
account, the highway infrastructure account, the industrial insurance
premium refund account, the judges' retirement account, the judicial
retirement administrative account, the judicial retirement principal
account, the local leasehold excise tax account, the local real estate
excise tax account, the local sales and use tax account, the medical
aid account, the mobile home park relocation fund, the multimodal
transportation account, the municipal criminal justice assistance
account, the municipal sales and use tax equalization account, the
natural resources deposit account, the oyster reserve land account, the
perpetual surveillance and maintenance account, the public employees'
retirement system plan 1 account, the public employees' retirement
system combined plan 2 and plan 3 account, the public facilities
construction loan revolving account beginning July 1, 2004, the public
health supplemental account, the public works assistance account, the
Puyallup tribal settlement account, the real estate appraiser
commission account, the regional transportation investment district
account, the resource management cost account, the site closure
account, the special wildlife account, the state employees' insurance
account, the state employees' insurance reserve account, the state
investment board expense account, the state investment board commingled
trust fund accounts, the supplemental pension account, the Tacoma
Narrows toll bridge account, the teachers' retirement system plan 1
account, the teachers' retirement system combined plan 2 and plan 3
account, the tobacco prevention and control account, the tobacco
settlement account, the transportation infrastructure account, the
tuition recovery trust fund, the University of Washington bond
retirement fund, the University of Washington building account, the
volunteer fire fighters' and reserve officers' relief and pension
principal fund, the volunteer fire fighters' and reserve officers'
administrative fund, the Washington fruit express account, the
Washington judicial retirement system account, the Washington law
enforcement officers' and fire fighters' system plan 1 retirement
account, the Washington law enforcement officers' and fire fighters'
system plan 2 retirement account, the Washington school employees'
retirement system combined plan 2 and 3 account, the Washington state
health insurance pool account, the Washington state patrol retirement
account, the Washington State University building account, the
Washington State University bond retirement fund, the water pollution
control revolving fund, and the Western Washington University capital
projects account. Earnings derived from investing balances of the
agricultural permanent fund, the normal school permanent fund, the
permanent common school fund, the scientific permanent fund, and the
state university permanent fund shall be allocated to their respective
beneficiary accounts. All earnings to be distributed under this
subsection (4)(a) shall first be reduced by the allocation to the state
treasurer's service fund pursuant to RCW 43.08.190.
(b) The following accounts and funds shall receive eighty percent
of their proportionate share of earnings based upon each account's or
fund's average daily balance for the period: The aeronautics account,
the aircraft search and rescue account, the county arterial
preservation account, the department of licensing services account, the
essential rail assistance account, the ferry bond retirement fund, the
grade crossing protective fund, the high capacity transportation
account, the highway bond retirement fund, the highway safety account,
the motor vehicle fund, the motorcycle safety education account, the
pilotage account, the public transportation systems account, the Puget
Sound capital construction account, the Puget Sound ferry operations
account, the recreational vehicle account, the rural arterial trust
account, the safety and education account, the special category C
account, the state patrol highway account, the transportation 2003
account (nickel account), the transportation equipment fund, the
transportation fund, the transportation improvement account, the
transportation improvement board bond retirement account, and the urban
arterial trust account.
(5) In conformance with Article II, section 37 of the state
Constitution, no treasury accounts or funds shall be allocated earnings
without the specific affirmative directive of this section.
NEW SECTION. Sec. 23 Section 21 of this act expires July 1,
2005.
NEW SECTION. Sec. 24 Section 22 of this act takes effect July 1,
2005.
NEW SECTION. Sec. 25 (1) Sections 1, 2, 4, 5, 7, 9, 13, and 19
of this act are necessary for the immediate preservation of the public
peace, health, or safety, or support of the state government and its
existing public institutions, and take effect July 1, 2004.
(2) Sections 3, 6, 8, 10 through 12, 14 through 18, and 20 of this
act take effect April 1, 2005.