Washington State House of Representatives Office of Program Research | BILL ANALYSIS |
Commerce & Labor Committee |
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. |
Brief Description: Concerning real estate broker licensure fees.
Sponsors: Representatives Conway and Condotta.
Brief Summary of Bill |
|
Hearing Date: 1/27/10
Staff: Alison Hellberg (786-7152).
Background:
In 1989 the Washington Center for Real Estate Research (Center) was established at the 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. Moneys 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 brokers and sellers 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.
Effective Date: The bill takes effect July 1, 2010.