[atlas:bill]

AN ACT Relating to real estate research; adding new sections to chapter 18.85 RCW; providing an effective date; providing expiration dates; and declaring an emergency.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION. Sec. 1. A new section is added to chapter 18.85 RCW to read as follows:

(1) A fee of ten dollars is created and shall be assessed on each real estate broker, associate broker, and salesperson originally licensed after July 1, 1999, and upon each renewal of a license with an expiration date after July 1, 1999, including renewals of inactive licenses.

(2) This section expires June 30, 2005.

NEW SECTION. Sec. 2. A new section is added to chapter 18.85 RCW to read as follows:

(1) The Washington real estate research account is created in the custody of the state treasurer. All receipts from the fee under section 1 of this act shall be deposited into the account. Expenditures from the account may be made only upon the authorization of the director of the department of licensing, or a duly authorized representative of the director, and may be used only to support a real estate research center in Washington state. The account is subject to allotment procedures under chapter 43.88 RCW, but no appropriation is required for expenditures.

(2) This section expires June 30, 2005.

NEW SECTION. Sec. 3. A new section is added to chapter 18.85 RCW to read as follows:

(1) The purpose of a real estate research center in Washington state is to provide credible research, value-added information, education services, and project-oriented research to real estate licensees, real estate consumers, real estate service providers, institutional customers, public agencies, and communities in Washington state and the Pacific Northwest region. The center may:

(a) Conduct studies in all areas directly or indirectly related to real estate and urban or rural economics and economically isolated communities;

(b) Disseminate findings and results of real estate research conducted at or by the center or elsewhere, using a variety of dissemination media;

(c) Supply research results and educational expertise to the Washington state real estate commission to support its regulatory functions, as requested;

(d) Prepare information of interest to real estate consumers and make the information available to the general public, universities, or colleges, and appropriate state agencies;

(e) Encourage economic growth and development within the state of Washington;

(f) Support the professional development and continuing education of real estate licensees in Washington;

(g) Study and recommend changes in state statutes relating to real estate; and

(h) Publish, within three months of the conclusion of each fiscal year, a report that includes both a content review and a summary financial reporting of the public funds expended by the center.

(2) The director shall establish a memorandum of understanding with an institution of higher learning that establishes a real estate research center for the purposes under subsection (1) of this section.

(3) This section expires June 30, 2005.

NEW SECTION. Sec. 4. This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and takes effect July 1, 1999.