Title: An act relating to the Washington real estate research account.

Brief Description: Changing the expiration date of the Washington real estate research account.

Sponsors: Representatives Conway, Tom, Wood, Buri, Miloscia, Condotta, Armstrong and Kenney.

Brief History: Passed House: 3/04/05, 96-0.

Committee Activity: Labor, Commerce, Research & Development: 3/24/05 [DP].

SENATE COMMITTEE ON LABOR, COMMERCE, RESEARCH & DEVELOPMENT

Majority Report: Do pass.Signed by Senators Kohl-Welles, Chair; Franklin, Vice Chair; Parlette, Ranking Minority Member; Hewitt, Keiser and Prentice.

Staff: Alison Mendiola (786-7483)

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 salespersons when their licenses are issued or renewed. During the 2003-05 biennium, the fees totaled $300,000 and provided approximately two-thirds of the Center's funding. Grants and private funding sources provided the other third of the funding.

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 expires September 30, 2005.

Summary of Bill: The Department of Licensing's authority to collect a $10 fee from real estate brokers and sellers to fund the Washington Center on Real Estate Research's activities is extended for five additional years, from September 30, 2005- September 30, 2010. Related provisions are also extended for five years.

Appropriation: None.

Fiscal Note: Available.

Committee/Commission/Task Force Created: No.

Effective Date: Ninety days after adjournment of session in which bill is passed.

Testimony For: The Center provides a great resource to those in the real estate industry, the legislature, state agencies, local groups, the media, and the general public. Though the Center is housed at Washington State University, they receive no higher education funding. The $10 fee that is collected provides 2/3 of the funding for the Center, with the other 1/3 coming from contracts and other support.

Testimony Against: None.

Who Testified: PRO: Representative Conway; Glenn Crellin, WA Center for Real Estate Research; and Bob Mitchell, WA Association of Realtors.