House File 502 - Introduced HOUSE FILE 502 BY COMMITTEE ON COMMERCE (SUCCESSOR TO HSB 164) A BILL FOR An Act relating to real estate broker and real estate 1 salesperson licensing fees and allocations from those fees, 2 and making an appropriation. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 2164HV (3) 85 rn/sc
H.F. 502 Section 1. Section 543B.14, Code 2013, is amended to read 1 as follows: 2 543B.14 Fees and expenses —— funds. 3 All fees and charges collected by the real estate commission 4 under this chapter shall be paid into the general fund of 5 the state, except that fifty twenty-five dollars from each 6 real estate salesperson’s license fee and each broker’s 7 license shall be paid into the Iowa real estate education fund 8 created in section 543B.54 fee shall be appropriated to the 9 professional licensing and regulation bureau of the banking 10 division of the department of commerce for the purpose of 11 hiring and compensating a real estate education director and 12 regulatory compliance personnel . All expenses incurred by 13 the commission under this chapter , including compensation of 14 staff assigned to the commission, shall be paid from funds 15 appropriated for those purposes , except for expenses incurred 16 and compensation paid for the real estate education director, 17 which shall be paid out of the real estate education fund . 18 Sec. 2. Section 546.10, subsection 3, paragraph b, Code 19 2013, is amended to read as follows: 20 b. Notwithstanding subsection 5 , eighty-five percent of the 21 funds received annually resulting from an increase in licensing 22 fees implemented on or after April 1, 2002, by a licensing 23 board or commission listed in subsection 1 , is appropriated 24 to the professional licensing and regulation bureau to be 25 allocated to the board or commission for the fiscal year 26 beginning July 1, 2002, and succeeding fiscal years, for 27 purposes related to the duties of the board or commission, 28 including but not limited to additional full-time equivalent 29 positions. In addition, notwithstanding subsection 5, 30 twenty-five dollars from each real estate salesperson’s license 31 fee and each broker’s license fee received pursuant to section 32 543B.14 is appropriated to the professional licensing and 33 regulation bureau for the purpose of hiring and compensating 34 a real estate education director and regulatory compliance 35 -1- LSB 2164HV (3) 85 rn/sc 1/ 3
H.F. 502 personnel. The director of the department of administrative 1 services shall draw warrants upon the treasurer of state from 2 the funds appropriated as provided in this section and shall 3 make the funds available to the professional licensing and 4 regulation bureau on a monthly basis during each fiscal year. 5 Sec. 3. REPEAL. Section 543B.54, Code 2013, is repealed. 6 Sec. 4. REAL ESTATE EDUCATION FUND —— REMAINING FUNDS 7 TRANSFER. Any funds remaining in the real estate education 8 fund on June 30, 2013, shall not revert to the general fund 9 of the state but shall be appropriated to the professional 10 licensing and regulation bureau of the banking division of the 11 department of commerce. Funds appropriated pursuant to this 12 section shall be used for the public purpose of providing a 13 grant to a nonprofit foundation affiliated with a statewide 14 association of real estate professionals to provide real 15 estate education programs, scholarship assistance, housing 16 assistance programs, or to otherwise further the mission of the 17 foundation. 18 EXPLANATION 19 This bill relates to real estate broker and real estate 20 salesperson licensing fees and allocations from those fees. 21 The bill reduces an allocation of $50 that is currently 22 mandated from each real estate broker and real estate 23 salesperson licensing fee for deposit into the Iowa real estate 24 education fund created in Code section 543B.54 to provide 25 grants to educational institutions to provide real estate 26 education programs and to hire and compensate a real estate 27 education director and regulatory compliance personnel. The 28 bill reduces the allocation to $25, and directs the allocation 29 to be appropriated to the professional licensing and regulation 30 bureau of the banking division of the department of commerce 31 for the purpose of hiring and compensating a real estate 32 education director and regulatory compliance personnel. 33 The bill also repeals Code section 543B.54, modifies related 34 provisions, and provides that any funds remaining in the Iowa 35 -2- LSB 2164HV (3) 85 rn/sc 2/ 3
H.F. 502 real estate education fund on June 30, 2013, shall not revert 1 to the general fund of the state but shall be appropriated 2 to the professional licensing and regulation bureau for the 3 public purpose of providing a grant to a nonprofit foundation 4 affiliated with a statewide association of real estate 5 professionals for purposes specified in the bill. 6 -3- LSB 2164HV (3) 85 rn/sc 3/ 3