HOUSE 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 Reported by House Committee On:
Commerce & Labor
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:
Committee Activity:
Commerce & Labor: 1/27/10 [DP].
Brief Summary of Bill |
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HOUSE COMMITTEE ON COMMERCE & LABOR |
Majority Report: Do pass. Signed by 7 members: Representatives Conway, Chair; Wood, Vice Chair; Condotta, Ranking Minority Member; Chandler, Green, Moeller and Williams.
Minority Report: Without recommendation. Signed by 1 member: Representative Crouse.
Staff: Alison Hellberg (786-7152).
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 brokers and sellers 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). Moneys in the Account must be appropriated. The Department's authority to collect the fees and related provisions expire September 30, 2010.
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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.
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Appropriation: None.
Fiscal Note: Available.
Effective Date: The bill takes effect July 1, 2010.
Staff Summary of Public Testimony:
(In support) Since 1999 real estate licensees have been paying this $10 fee when a license is issued or renewed to fund the Center. It was extended five years ago and will expire again this year. It is important to extend this fee because the research of the Center not only benefits the real estate industry and the public, but also benefits many of the legislative policy committees.
(Opposed) None.
Persons Testifying: Bob Mitchell, Washington Realtors.
Persons Signed In To Testify But Not Testifying: None.