Text: HF501            Text: HF503
Complete Bill History


House File 502

HOUSE FILE BY COMMITTEE ON COMMERCE (SUCCESSOR TO HSB 164) A BILL FOR 1 An Act relating to real estate broker and real estate 2 salesperson licensing fees and allocations from those fees, 3 and making an appropriation. 4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: TLSB 2164HV (3) 85 rn/sc PAG LIN 1 1 Section 1. Section 543B.14, Code 2013, is amended to read 1 2 as follows: 1 3 543B.14 Fees and expenses == funds. 1 4 All fees and charges collected by the real estate commission 1 5 under this chapter shall be paid into the general fund of 1 6 the state, except that fifty twenty=five dollars from each 1 7 real estate salesperson's license fee and each broker's 1 8 license shall be paid into the Iowa real estate education fund 1 9 created in section 543B.54 fee shall be appropriated to the 1 10 professional licensing and regulation bureau of the banking 1 11 division of the department of commerce for the purpose of 1 12 hiring and compensating a real estate education director and 1 13 regulatory compliance personnel. All expenses incurred by 1 14 the commission under this chapter, including compensation of 1 15 staff assigned to the commission, shall be paid from funds 1 16 appropriated for those purposes, except for expenses incurred 1 17 and compensation paid for the real estate education director, 1 18 which shall be paid out of the real estate education fund. 1 19 Sec. 2. Section 546.10, subsection 3, paragraph b, Code 1 20 2013, is amended to read as follows: 1 21 b. Notwithstanding subsection 5, eighty=five percent of the 1 22 funds received annually resulting from an increase in licensing 1 23 fees implemented on or after April 1, 2002, by a licensing 1 24 board or commission listed in subsection 1, is appropriated 1 25 to the professional licensing and regulation bureau to be 1 26 allocated to the board or commission for the fiscal year 1 27 beginning July 1, 2002, and succeeding fiscal years, for 1 28 purposes related to the duties of the board or commission, 1 29 including but not limited to additional full=time equivalent 1 30 positions. In addition, notwithstanding subsection 5, 1 31 twenty=five dollars from each real estate salesperson's license 1 32 fee and each broker's license fee received pursuant to section 1 33 543B.14 is appropriated to the professional licensing and 1 34 regulation bureau for the purpose of hiring and compensating 1 35 a real estate education director and regulatory compliance 2 1 personnel. The director of the department of administrative 2 2 services shall draw warrants upon the treasurer of state from 2 3 the funds appropriated as provided in this section and shall 2 4 make the funds available to the professional licensing and 2 5 regulation bureau on a monthly basis during each fiscal year. 2 6 Sec. 3. REPEAL. Section 543B.54, Code 2013, is repealed. 2 7 Sec. 4. REAL ESTATE EDUCATION FUND == REMAINING FUNDS 2 8 TRANSFER. Any funds remaining in the real estate education 2 9 fund on June 30, 2013, shall not revert to the general fund 2 10 of the state but shall be appropriated to the professional 2 11 licensing and regulation bureau of the banking division of the 2 12 department of commerce. Funds appropriated pursuant to this 2 13 section shall be used for the public purpose of providing a 2 14 grant to a nonprofit foundation affiliated with a statewide 2 15 association of real estate professionals to provide real 2 16 estate education programs, scholarship assistance, housing 2 17 assistance programs, or to otherwise further the mission of the 2 18 foundation. 2 19 EXPLANATION 2 20 This bill relates to real estate broker and real estate 2 21 salesperson licensing fees and allocations from those fees. 2 22 The bill reduces an allocation of $50 that is currently 2 23 mandated from each real estate broker and real estate 2 24 salesperson licensing fee for deposit into the Iowa real estate 2 25 education fund created in Code section 543B.54 to provide 2 26 grants to educational institutions to provide real estate 2 27 education programs and to hire and compensate a real estate 2 28 education director and regulatory compliance personnel. The 2 29 bill reduces the allocation to $25, and directs the allocation 2 30 to be appropriated to the professional licensing and regulation 2 31 bureau of the banking division of the department of commerce 2 32 for the purpose of hiring and compensating a real estate 2 33 education director and regulatory compliance personnel. 2 34 The bill also repeals Code section 543B.54, modifies related 2 35 provisions, and provides that any funds remaining in the Iowa 3 1 real estate education fund on June 30, 2013, shall not revert 3 2 to the general fund of the state but shall be appropriated 3 3 to the professional licensing and regulation bureau for the 3 4 public purpose of providing a grant to a nonprofit foundation 3 5 affiliated with a statewide association of real estate 3 6 professionals for purposes specified in the bill. LSB 2164HV (3) 85 rn/sc
Text: HF501            Text: HF503 Complete Bill History