HOUSE BILL REPORT
SB 6133
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:
Business & Financial Services
Title: An act relating to real estate brokers and managing brokers.
Brief Description: Concerning expiration dates related to real estate broker provisions.
Sponsors: Senators Braun, Conway, King and Tom.
Brief History:
Committee Activity:
Business & Financial Services: 2/21/14, 2/25/14 [DP].
Brief Summary of Bill |
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HOUSE COMMITTEE ON BUSINESS & FINANCIAL SERVICES |
Majority Report: Do pass. Signed by 15 members: Representatives Kirby, Chair; Ryu, Vice Chair; Parker, Ranking Minority Member; Vick, Assistant Ranking Minority Member; Blake, Fagan, Habib, Hawkins, Hudgins, G. Hunt, Hurst, Kochmar, MacEwen, Santos and Stanford.
Staff: Linda Merelle (786-7092).
Background:
The Washington Center for Real Estate Research (Center) was established in 1989 to provide continuing research, education, and technical assistance to licensed real estate brokers and sales persons, educational institutions, state and local governments, the real estate industry, and the general public.
Individuals who obtain a real estate broker's license or a managing broker's license and who renew their licenses after October 1, 1999, must pay a fee of $10. The fee is deposited in the Washington Real Estate Research Account (Account). Expenditures from the Account may be used only to support a real estate research center in Washington. The Account is subject to appropriation. The appropriation for the Center in the 2013-15 Operating Budget was $415,000.
When the $10 fee was initially assessed, the provision requiring the fee was due to expire September 30, 2005. Since 2005 the expiration date has been extended twice. It was extended until 2010 and then to its current expiration date, September 30, 2015. The provisions that created the Account and authorized the establishment of the Center expire September 30, 2015.
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Summary of Bill:
The expiration date for the $10 assessment required for the original issuance and the renewal of licenses for real estate brokers and managing brokers is extended until September 30, 2025.
The expiration date of the provisions that authorized the creation of the Account and establishment of the Center are extended until September 30, 2025.
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Appropriation: None.
Fiscal Note: Available.
Effective Date: The bill takes effect 90 days after adjournment of the session in which the bill is passed.
Staff Summary of Public Testimony:
(In support) This is an important bill to the real estate industry. Real estate license fees have supported the Center financially since the Center was created in 1989. For the first 10 years, the Center was supported through agreements for contracts that were renegotiated every couple of years. In 1999 the decision was made to make it more permanent, and the fee has been extended for five-year periods of time. The real estate community has decided to request an extension for 10 years. No higher education funding goes to support the Center. It is supported by fees and additional grants and projects funded by others.
(Opposed) None.
Persons Testifying: Representative Kirby; and Bob Mitchell, Washington Realtors.
Persons Signed In To Testify But Not Testifying: None.